The IIMC is an autonomous institution under the Union Ministry of Information and Broadcasting, for setting up its Amravati Regional Centre campus.
The cabinet decided to allot the land on a 30-year lease at a rent of Rs 1 per annum and directed the institution to launch construction work within three years of taking possession of the land, sources said.
Opened in 2011, IIMC's Amravati regional centre is presently located at the Sant Gadgebaba Amravati University campus.
"With enough space becoming available now, other courses running in IIMC Delhi at present could be run from IIMC's Amravati regional centre," Amravati IIMC officer in-charge Nadeem Khan said.
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