A new plot scheme is coming in the National Capital Region for small and medium sized industries (MSME). The upcoming industrial plot scheme will be launched by Noida Authority.
The first e-auction of this scheme will allocate 17 plots that vary between 200 square meters and 7,500 square meters. Businessmen seeking small plots should view this as an optimal time to make their investing decision.
Around 60,000 sq m of the industrial land will be allotted. These plots are available in sector 7,8,10,62, 80 and 164 in Noida.
As quoted by Navbharat Times, an official from the Noida Authority mentioned that, “We are bringing this scheme so that businessmen who want small plots can set up their units in the city. This is a great opportunity for businessmen.”
He further mentioned that, “Most of the paperwork has been completed. The authority is looking for more vacant plots in other sectors for future plans. This initiative will give a good opportunity to small and medium business owners to expand their business in Noida.”
A joint meeting between Noida and Greater Noida authorities during last month produced this policy change. The board members at this gathering approved the updated industrial plot allotment policy.
The Uttar Pradesh government issued its directive dated December 26, 2024 as a guiding principle for this initiative. The three authorities of Noida and Greater Noida and Yamuna Expressway received governmental instructions to unify their plot allotment procedures before seeking board authorization.
This new method establishes electronic auction procedures for assigning industrial land spaces measuring less than 8,000 sq m. The system functions to award real business owners instead of speculation investors.
The interested people must place 10% of plot reserve cost to join online auctions. They must submit 30% of the total purchase amount right after attaining success in their bid. The installments needed to cover the balance payment will follow a fixed time period. A separate official booklet with detailed rules and eligibility criteria is set to arrive within a short timeframe.
