Big news! Mukesh Ambani to build awesome megacity
- IndiaGlitz, [Tuesday,April 09 2019]
In 2016, Mukesh Ambani wowed the entire nation when he launched Jio. All mobile users in India were stunned by the cheap rates at which he made data available. Since then, we have seen how Jio's competitors have slashed rates to save their skin.
Cut to 2019, we hear of a mega plan from Reliance Industries. India's wealthiest man is planning to build a megacity in Navi Mumbai. This city will be Maharashtra's first integrated industrial project. Reliance will invite investments to the tune of $ 75 billion in the next 10 years to make this dream possible. The unnamed city is going to host an airport, port and other huge infrastructure projects.
When it becomes a reality, lakhs of Mumbaikars are expected to migrate to the megacity. It can accommodate up to half a million. Property prices in Mumbai will come down because of the reverse migration, say experts.
Importantly, the megacity will be administered by Reliance itself. This is possible because it possesses a special planning authority license.