Reliance Realty's smart fintech centre in Navi Mumbai gets state govt nod

Reliance Realty will develop Maharashtra's first and largest smart fintech centre in Navi Mumbai, the company announced on Monday.

The Department of Information Technology, Government of Maharashtra and the Maharashtra Industrial Development Corporation (MIDC) have granted approval to Reliance Realty for development of the smart fintech centre at its Dhirubhai Ambani Knowledge City in Navi Mumbai, under the new fintech policy.

Reliance Realty's Dhirubhai Ambani Knowledge City, which is spread across over 132 acres, will have a total saleable/leasable area of over 30 million square feet of prime real estate. Reliance Realty's saleable area post development will be double the size of the existing commercial area of Bandra Kurla Complex.

"Reliance Realty is best positioned to capture the growing demand for fintech, banking, financial services, insurance, NBFC, IT and ITES and knowledge sectors over a period of next 20 years and beyond," the company said in a statement.

Reliance Realty, a wholly-owned subsidiary of Reliance Communications, has already started major infrastructure development initiative in this regard.