Property in Noida: Noida Authority is going to launch a new industrial plot scheme soon to promote the MSME sector. Under this scheme, 17 industrial land will be offered in the first phase. The size of the industrial plot will be between 200 square meters to 7,500 square meters. These plots will be allotted through e-auction.
60,000 square meters of land will be allocated in the first phase
According to Noida Authority, 60,000 square meters of industrial land will be allocated under this scheme. These plots are located in Sector 7, 8, 10, 62, 80 and 164 of Noida. This scheme is a golden opportunity for traders who want to set up their industrial units on small plots. An official of Noida Authority said that most of his paperwork has been completed and we are identifying plots lying vacant in other sectors for further stages. This initiative will give MSME traders a great opportunity to expand their operations in Noida.
UP government instructions
The change in the policy took place during the Joint Board meeting of Noida and Greater Noida Authority last month, where the Revise Industrial Plot Allocation Policy was approved. On 26 December 2024, the Uttar Pradesh government directed Noida, Greater Noida and Yamuna Expressway Authority to standeze the industrial plot allocation policies and seek the approval of the board. Under the new policy, industrial plots of up to 8,000 square meters will be given through e-auction so that only real traders get a chance to replace investors.
The allocation of plots larger than 8,000 square meters will be based on interviews and other fixed criteria. UP Chief Secretary and Industrial Development Commissioner Manoj Kumar Singh emphasized on maintaining transparency and clarity in this policy. The policy was formally adopted at the Joint Board meeting of December 2024.
E-auction process and payment rules
To participate in the e-auction, buyers will have to submit 10% amount of the reserve price of the first plot. After being successful in the auction, they will have to pay 30% of the total cost immediately, while the remaining money will be allowed to be repaid in installments. Detailed information and eligibility conditions of this scheme will be released soon.
Controversy over allocation of big plots
There is a demand from some Industry Group to allocate plots larger than 2,000 square meters from lottery process so that small and medium entrepreneurs can get the same opportunity. However, the Noida Authority has made it clear that they will follow the government’s fixed policy and the plots will be allotted only through the e-auction process.
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