Maharashtra’s First Smart Fintech Centre  To Come Up At Navi Mumbai, Reliance Realty To Develop The ProjectA bird’s eye view of Mumbai. (Photo by Mahendra Parikha/Hindustan Times via Getty Images)

Maharashtra’s first and the largest smart fintech centre will be developed by Reliance Realty Limited, a wholly-owned subsidiary of Anil Ambani-led Reliance Communications, in Navi Mumbai, The Hindu has reported.

According to the report, the Department of Information Technology (DOIT) of the Government of Maharashtra and the Maharashtra Industrial Development Corporation (MIDC) have granted approval to Reliance Realty for the development of the Smart Fintech Centre at Dhirubhai Ambani Knowledge City in Navi Mumbai, under the new fintech policy of the state government.

As per the new fintech policy of the Maharashtra government, the Dhirubhai Ambani Knowledge city, that is spread across 132 acres, will have total saleable/leasable area of over 30 million square feet of prime real estate.

The saleable area of Reliance Realty after the development will reportedly be double the size of the existing commercial area of Bandra Kurla Complex in Mumbai.

The statement added that the company 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 the next 20 years, and beyond. It added that the company has already started major infrastructure initiatives in this regard.

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