Mumbai: Reliance Realty, a wholly-owned subsidiary of Reliance Communications (RCom), would develop Maharastra’s first and largest Smart Fintech Centre in Navi Mumbai. Also Read - Debt-ridden Anil Ambani Has to Pay $100 Million in London by End of Day

RCom said the Maharashtra government and the Maharashtra Industrial Development Corporation (MIDC) have approved building the centre at the Dhirubhai Ambani Knowledge City in Navi Mumbai. Also Read - Anil Ambani, 4 Others Resign as Directors of Reliance Communications Over Bankruptcy

According to the state government’s new fintech policy, Reliance Realty’s Dhirubhai Ambani Knowledge City, which is spread across over 132 acres, will have total saleable or leasable area of over 30 million square feet of prime real estate, it said in a regulatory filing to the BSE. Also Read - Immediate Payment of Dues May Cripple 5G Bids by Telcos, Says Fitch

“It’s saleable area post development will be double the size of the existing commercial area of Bandra Kurla Complex, Mumbai,” the statement said.