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Final clearance to Reliance Realty – A smart fintech centre is all set to develop in Mumbai

The State’s first and the largest Smart Fintech Centre is going to be developed in Navi Mumbai by Reliance Realty Limited, a wholly owned subsidiary of Reliance Communications.  

Maharashtra Industrial Development Corporation(MIDC), Government of Maharashtra and The Department of Information technology(MIDC) have approved Reliance Realty’s plan for development of the smart fintech centre at its Dhirubai Ambani Knowledge City in Navi Mumbai, under the Government of Maharashtra’s new Fintech Policy.

According to Maharashtra’s new Fintech Policy, Reliance Realty’s Dhirubhai Ambani Knowledge City, which is spread across over 132 acres, is going to have a  total leasable/saleable area of over 30 million square feet of prime real estate.

Post the establishment of Reliance Realty’s saleable area, it will be double the size of the existing commercial area of Bandra Kurla Complex, Mumbai.

It is supposed that Reliance Realty will efficiently capture the growing demand for Banking,  Fintech, Insurance, Financial Services, NBFC, IT& ITES and Knowledge sectors over a period of next 20 years and beyond. A major infrastructure development initiative has already been started by Reliance Realty in this regard.

As compared to the previous close of Rs. 5.19, shares of RELIANCE COMMUNICATIONS LTD. was last trading in BSE at Rs.5.44. The total number of shares traded during the day was 13756425 in over 269292 trades.

The stock hit an intraday high of Rs. 5.55 and intraday low of 4.85. The net turnover on that day was Rs. 73351798.

 

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