To strengthen the Micro, Small, and Medium Enterprises (MSME) sector, the Noida Authority has set final plans to introduce a new industrial plot scheme. The scheme seeks to provide land to companies using an e-auction system to ensure transparency and equitable access.
Key Highlights of the Scheme
- Plot Sizes & Locations: The first phase of the scheme will offer 17 industrial plots, with sizes ranging from 200 square meters to 7,500 square meters. The total land allocation in this phase is expected to cover 60,000 square meters, distributed across prime industrial sectors of Noida, including Sectors 7, 8, 10, 62, 80, and 164.
- E-Auction Process: The plots will be auctioned via an e-auction method to provide a fair and competitive bidding process. Prospective buyers must pay 10% of the reserve price in advance to participate in the auction. Successful bidders must make an advance payment of 30% of the cost, and the rest can be paid in installments.
- Government Policy Framework: The scheme follows the revised industrial plot allotment policy approved in a joint board meeting of the Noida and Greater Noida Authorities. The Uttar Pradesh government had earlier directed these authorities to standardize their industrial plot allocation policies to enhance transparency. Under the revised guidelines, industrial plots up to 8,000 square meters will be allocated through e-auction, while larger plots will require additional scrutiny based on interviews and other specified criteria.
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Opportunities for MSMEs
Noida Authority officials are of the view that this scheme will give a big fillip to MSME enterprises by allowing them to establish industrial units on smaller plots in a well-connected economic hub. With Noida’s strategic location and infrastructure, the initiative is likely to bring in investments from small and medium enterprises seeking to expand operations.
A senior Noida Authority official stated, “Most of the procedural formalities have been completed, and we are now in the process of identifying additional vacant plots in other sectors for future allocations. This initiative aims to facilitate business expansion while ensuring transparency in land allotment.”
Concerns and Industry Reactions
Whereas the process of e-auctions has been received as a move towards ensuring just allocation, certain industrial groups have opposed the allocation of larger plots. Industry representatives contend that even plots larger than 2,000 square meters should be allocated on a lottery basis instead of auctions in order to provide access to small and medium-sized enterprises on an equitable basis. But the Noida Authority has again assured that it will abide by the state government’s laid-down policies and will proceed with the e-auction system for allocations.
Next Steps
The scheme’s full terms and eligibility conditions will be announced soon, and a call for participation in the e-auction will be issued shortly. As Noida keeps growing into a major industrial and business hub, this scheme is a significant opportunity for entrepreneurs and investors seeking to enter the region.
For more details, prospective investors and businesses are advised to keep an eye on official announcements from the Noida Authority.
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