Noida authority to launch industrial plot scheme via e-auction process

Noida The Noida authority on Sunday said that it has decided to launch an industrial plot scheme soon under a new policy to support businesses in the micro, small, and medium enterprises (MSME) sector.

In the phase 1, the authority will offer 17 plots measuring 200 square metre (sqm) to 7,500 sqm, and allot them through an e-auction process.

“We have decided to come up with this scheme so that the businessmen looking for the smaller plots can get the land to set up their units in the city. It is a wonderful opportunity for the businessman to own a plot in this scheme,” said a Noida authority official aware of the development.

The authority will allot around 60,000 sqm industrial land, and these plots are located in Sectors 7, 8, 10, 62, 80, and 164 of Noida.

“Most of the paperwork is already complete and the authority is working on identifying more vacant plots in other sectors for future schemes. This initiative is expected to provide a valuable opportunity for small and medium business owners to expand their operations in Noida,” said the same official.

This policy change follows a joint board meeting last month of the Noida and Greater Noida authorities, where the revised industrial plot allotment policy was approved.

The move aligns with an Uttar Pradesh government directive of December 26, 2024 that instructed the Noida, Greater Noida, and Yamuna Expressway authorities to standardise their allotment policies and get board’s approval.

Under the new rules, industrial plots up to 8,000 sqm will be allotted through e-auction, with a focus on genuine entrepreneurs rather than investors. For plots larger than that, allotments will be based on interviews and specific criteria.

Chief secretary Manoj Kumar Singh, who also serves as the UP industrial development commissioner, had stressed on the importance of having a clear and transparent process for industrial plot allotment. During the joint board meeting (held in December, 2024), the two authorities formally adopted the govt’s policy.

As per the terms and conditions of the e-auction, interested buyers are required to first deposit 10% of the plot’s reserve price in order to participate in the e-auction. If successful, they will need to pay 30% of the total cost immediately, while the remaining amount can be paid in instalments over a stipulated period of time.

The detailed terms and eligibility criteria will be outlined in an official brochure to be released shortly.

Some industry groups, however, want that plots larger than 2,000 sqm should be allotted through a lottery system to give fair access to genuine MSME businesses.

However, the authorities have decided to follow the government’s allotment policy as planned.