With the aim of transforming Uttar Pradesh into a commercial hub, the Yogi government has allowed investors willing to establish industrial units in Greater Noida to use additional land for commercial purposes through a special scheme.
“Under this scheme, there will be an allotment of industrial plots in which the recipients of the plots will be able to operate two commercial facilities in addition to core industrial operations on these plots,” a government spokesman said.
The Yamuna Expressway Industrial Development Authority (YEIDA) has invited applications for industrial plots in five categories, which are located in Sector 24 with plot numbers 11-A, 11-B, 12, 15, and 21-B. This application process commenced on September 28. The premium cost has been set in the range of Rs 80 crore to Rs 151 crore.
Due to its proximity to Jewar airport, International Film City, Yamuna Expressway and Buddha Circuit, those setting up industrial units by taking a plot will get the benefit of all the facilities including better connectivity and the first world-class project of its kind, the Pod Transit System.
Applicants interested in taking plots in this project can apply until October 20, 2023, and can log in to the official website of YEIDA for more information.
The YEIDA website has provided information regarding the Mixed Land Use Industrial Plotting Scheme, including details about plot areas, sectors, and total premiums. Applications are being accepted for five categories of plots located in Sector 24 of Greater Noida, specifically plot numbers 11-A and B, 12, 15, and 21-B.
The special thing is that the applicants getting land through this scheme will have to use at least 75 per cent of the allotted land as a core industrial region, while the remaining area can be used as a maximum two commercial regions. Additionally, apart from the core industrial region, the designated area can also be used for residential and cultural facilities.
At least five per cent of the land on the total plot will have to be used for facilities and utilities, 8 per cent will have to be used for commercial purposes and at least 12 per cent of land will have to be used for residential purposes.
YEIDA has partnered with the Bank of Baroda to manage the banking operations related to this project and will participate in the project as the exclusive banking partner. It is noteworthy that, whether it is an auction of industrial plots or the selection process through the draws, there is minimal scope for human involvement in conducting these procedures. Applicants are being successfully determined through this system in all Industrial Development Authorities, including YEIDA.
