Business Update4 Jun 2024, 02:30 pm
Reliance Industries Completes Registration of Sub-Lease Deeds for 3,750 Acres in Maharashtra for Rs. 13,400 Crore
AI Summary
Reliance Industries Limited (RIL) has completed the registration of sub-lease deeds for approximately 3,750 acres of land along with associated development rights for a period of 43 years for an aggregate consideration of Rs. 13,400 crore. The land is sub-leased from Navi Mumbai IIA Private Limited, in which CIDCO holds 26%. The sub-leased land is to be used for the development of an integrated industrial area in terms of Maharashtra Industrial Policy, 2013. RIL has a proven track record of developing large integrated industrial complexes and smart cities.
Key Highlights
- Reliance Industries completes registration of sub-lease deeds for 3,750 acres in Maharashtra.
- The land is sub-leased from Navi Mumbai IIA Private Limited for a consideration of Rs. 13,400 crore.
- The sub-leased land is to be used for the development of an integrated industrial area.
- RIL has a proven track record of developing large integrated industrial complexes and smart cities.
- The registration was completed on June 3, 2024.