Reliance Buys Maharashtra’s Largest Industrial Land For Peanuts

Maharashtra’s biggest industrial land parcel of over 5,286 acres worth Rs 1 lakh crore was sold to Reliance Industries Ltd. for just Rs 2,200 crore [https://www.ndtvprofit.com/business/reliance-navi-mumbai-iia-stake-land-deal](https://www.ndtvprofit.com/business/reliance-navi-mumbai-iia-stake-land-deal) * Maharashtra's largest industrial land parcel, over 5,286 acres, was sold to Reliance Industries Ltd. for Rs 2,200 crore. * The economic potential of the Navi Mumbai SEZ was previously estimated at over Rs 1 lakh crore, supported by key infrastructures like the Mumbai Trans Harbour Link and Navi Mumbai Airport. The strategic location of the SEZ near major transport links enhances its value. * Jai Corp Ltd. announced an extraordinary general meeting to approve a proposed capital reduction by Urban Infrastructure Holdings Pvt. Ltd., in which it holds a 32% stake. * The Maharashtra government allowed the conversion of Navi Mumbai SEZ into an Integrated Industrial Area (IIA) in the financial year ending March 2018. * Urban Infrastructure Holdings Pvt. Ltd. has ownership stakes from both Reliance and Jai Corp Group, with SKIL Infrastructure currently under NCLT proceedings.