If you’re considering starting a business in Noida and need land, this news could be a game-changer for you. The Noida Authority is set to launch a new industrial plot scheme aimed at providing support to the MSME sector. This initiative aligns with the directives from the Uttar Pradesh government issued on December 26, 2024, which instructed the Noida, Greater Noida, and Yamuna Expressway authorities to standardize their allocation policies and obtain Board approval.
Details of the Industrial Plot Scheme
In the first phase, the authority will offer 17 plots ranging in size from 200 square meters to 7,500 square meters through an e-auction process. This scheme has been introduced to facilitate business owners looking for smaller plots to establish their units within the city. Owning a plot under this scheme presents a remarkable opportunity for entrepreneurs.
Available Sectors for Plot Allocation
The authority will allocate approximately 60,000 square meters of industrial land, with plots located in Noida sectors 7, 8, 10, 62, 80, and 164. Most of the paperwork has already been completed, and the authority is actively identifying additional vacant plots in other sectors for future initiatives. An official familiar with the matter indicated that this move is expected to provide a valuable opportunity for small and medium business owners to expand their operations in Noida.
Process for Obtaining a Plot
During a joint board meeting last month, the Noida and Greater Noida authorities approved the revised industrial plot allocation policy. According to Manoj Kumar Singh, the Chief Secretary and Commissioner for Industrial Development of Uttar Pradesh, it is crucial to have a clear and transparent process for industrial plot allocation.
As per the e-auction rules and regulations, interested buyers must submit a 10% deposit of the reserved price of the plot to participate in the e-auction. Upon success, they are required to pay 30% of the total cost immediately, while the remaining amount can be paid in installments over a specified period.
Benefits for Entrepreneurs
This new policy marks an important shift in the way industrial land is allocated in Noida. By providing smaller plots at reasonable costs, the Noida Authority aims to encourage entrepreneurship and boost the local economy. With the proximity to major transport routes and infrastructure facilities, businesses can thrive in this strategic location.
Conclusion
The upcoming industrial plot scheme in Noida represents a significant step forward for MSMEs and aspiring entrepreneurs. With the transparency and ease of access provided through the e-auction process, this initiative is poised to stimulate business growth and contribute to the region’s economic development.