Noida — The Noida Authority announced on Sunday that it is set to launch an industrial plot scheme under a newly revised policy aimed at supporting businesses in the micro, small, and medium enterprises (MSME) sector.
As published by Hindustan Times, the scheme will offer approximately 60,000 square meters of industrial land, located in Sectors 7, 8, 10, 62, 80, and 164 of Noida.
In the first phase, the authority will allot 17 plots ranging in size from 200 square meters to 7,500 square meters through an e-auction process.
\”We have decided to come up with this scheme so that businessmen looking for smaller plots can get land to set up their units in the city. It is a wonderful opportunity for business owners to own a plot under this scheme,\” a Noida Authority official familiar with the development said.
The authority stated that most of the paperwork for the scheme is complete and it is actively identifying additional vacant plots in other sectors for future schemes. The initiative aims to provide small and medium business owners with a valuable opportunity to expand their operations in Noida.
This decision follows a joint board meeting last month between the Noida and Greater Noida authorities, during which the revised industrial plot allotment policy was approved. The move aligns with a directive issued by the Uttar Pradesh government on Dec. 26, 2024. The directive instructed the Noida, Greater Noida, and Yamuna Expressway authorities to standardize their allotment policies and secure board approvals.
Under the new rules, industrial plots up to 8,000 square meters will be allotted through the e-auction process, ensuring a focus on genuine entrepreneurs rather than investors. For plots larger than 8,000 square meters, allotments will be made based on interviews and specific evaluation criteria.
Chief Secretary Manoj Kumar Singh, who also serves as the UP industrial development commissioner, emphasized the importance of having a clear and transparent process for industrial plot allotment. During the December joint board meeting, the two authorities officially adopted the state government’s policy.
According to the e-auction terms and conditions, interested buyers must first deposit 10% of the plot’s reserve price to participate in the auction. Successful bidders will be required to pay 30% of the total cost immediately, with the remaining amount payable in installments over a stipulated period.
While some industry groups have advocated that plots larger than 2,000 square meters should be allotted through a lottery system to ensure fair access for genuine MSME businesses, the authorities have confirmed that they will proceed according to the government’s standardized allotment policy.
A detailed brochure outlining the terms, conditions, and eligibility criteria for the scheme will be released shortly.