Noida, Feb 24 (KNN) The Noida Authority has announced its inaugural industrial plot scheme under a new policy framework, specifically designed to strengthen the micro, small, and medium enterprises (MSME) sector.
The initial phase of this initiative will offer 17 industrial plots through an e-auction system, with plot sizes ranging from 200 to 7,500 square meters, distributed across sectors 7, 8, 10, 62, 80, and 164, encompassing approximately 60,000 square meters of total area.
This development follows a significant policy revision approved during a joint board meeting of the Noida and Greater Noida authorities, aligning with a state government directive issued on December 26, 2024.
The directive established a uniform allotment policy across the Noida, Greater Noida, and Yamuna Expressway authority regions.
Under the new framework, industrial plots up to 8,000 square meters will be allocated through e-auction, while larger plots will require interviews and specific evaluation criteria.
The auction process requires potential participants to submit an initial deposit of 10 percent of the plot’s reserve price.
Successful bidders must then pay 30 percent of the total cost immediately, with the remaining amount structured in scheduled installments.
Chief Secretary and Industrial Development Commissioner Manoj Kumar Singh has emphasised the importance of maintaining transparency throughout the allocation process.
However, the e-auction system has encountered resistance from industry associations, who express concern about potential disadvantages for small business owners.
These groups argue that the system might favor property dealers and large investors with greater financial resources, and have proposed an alternative lottery system for plots exceeding 2,000 square meters to ensure more equitable access for genuine MSME businesses.
Despite these concerns, Authority officials remain committed to implementing the government-mandated allotment policy.
They are actively identifying additional vacant land in other sectors for future development phases, aiming to expand opportunities for small and medium businesses in the city.
The Authority plans to release a comprehensive brochure detailing the terms, conditions, and eligibility criteria for the e-auction, providing clear guidelines for potential investors in the application process.
(KNN Bureau)
