The club have been drawing up redevelopment plans for 18 months with the aim of starting at the end of next season.
Plans include building a new Peter Taylor Stand and improvements to the Trentside area, Brian Clough and Bridgford Stands.
The new stand will include a museum, new club shop and a range of hospitality lounge facilities. When complete The City Ground’s capacity will reach 38,000.
The club unveiled the stadium plan, drawn up by architect Benoy, after an agreement with the City Council for an extended lease on The City Ground
Nottingham Forest owner Evangelos Marinakis said: “The City Ground has iconic history and memories for our supporters and these legacies were fundamental in our decision us to remain on the banks of the River Trent and not relocating to an alternative site.
“This is our home and we will remain here forever.
“This investment is about our club and the city of Nottingham and we are all committed together to deliver a place that we will all feel proud of, The New City Ground, our home forever.”