Noida Authority launches new industrial scheme; reserves 10 plots for startups

Noida Authority launches new industrial scheme; reserves 10 plots for startups
22/08/2017 , by , in News/Views

Uttar Pradesh industrial development minister Satish Mahana on Saturday launched a new industrial scheme in which the authority has introduced a special payment option for successful allottees of industrial plots. This scheme will be open till September 22 this year.

The Noida Authority has also reserved 10 plots for startups and 33% for expansion of existing industries in order to woo young entrepreneurs and promote ease of doing business.

According to officials, the allotment procedure will be made online and the land will also be allotted within a short timeframe to prospective allottees. “The aim is to provide entrepreneurs with a conducive environment for setting up industry and propel industrial growth. We want Noida to be a gateway for industrial development and not for real estate,” said Mahana.

“In the next two to three months, we will launch another industrial scheme across two other sectors 156 and 157 in the city. Industrial growth propels the development of an area and we will pull industry not only from other parts of the country, but also globally to put not only Noida but Greater Noida and Yamuna expressway on the industrial map,” he added.

Amit Mohan Prasad, CEO of Noida Authority informed that the prospective allottees will have to buy forms online and the processing fee will also be taken online. Applicants will have to upload their project details along with the investment details and timelines for making the project functional. He said, “Allotment for plots up to 4,000 square metres will be done by lottery, applications for plots measuring above will scrutinized by a screening committee and weighed according to criteria set by us. We have reserved five plots of 450 sq m and five plots of 1,000 sq m plots for startups and 33% reservation has been made for expansion of existing industries. We have devised a special payment plan for this scheme. 20% will have to be paid upfront at the time of allotment, and the balance 80% will have to be paid in 10 installments.”

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