Reliance Realty Limited, a wholly-owned subsidiary of Anil Ambani led Reliance Communications, will develop Maharashtra's first and largest Smart Fintech Centre in Navi Mumbai.

The Department of Information Technology, Government of Maharashtra and the Maharashtra Industrial Development Corporation (MIDC granted approval to Reliance Realty for development of the Smart Fintech Centre at its Dhirubhai Ambani Knowledge City in Navi Mumbai, under the Government of Maharashtra’s new Fintech Policy, said a company statement.

As per the government of Maharashtra’s new Fintech Policy, the Dhirubhai Ambani Knowledge City, which is spread across over 132 acres, will have 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, Mumbai.

Reliance Realty is best positioned to capture the growing demand for Fintech, Banking, Financial Services, Insurance, NBFC, IT & ITES and Knowledge sectors over a period of next 20 years, and beyond, said the statement adding that the company has already started major infrastructure development initiative in this regard.