Noida to offer space for start-ups at cheap rates

NOIDA: In a bid to encourage start-ups in the city, the Noida authority has decided to provide space at discounted rates to the entrepreneurs who are interested in setting up their start-up firm here, and require office space at cheaper rates.

The authority will offer space at the eight-storey City Bus Terminal building in Sector 82 that is lying largely unused since its completion in 2021.

Built at a cost of ₹157.9 crore, the terminal was intended to be a transportation hub but failed to draw sufficient passengers. Thus, the authority aims to make it a hub for the start-up firms by offering the space at reasonable rates.

“We have decided to encourage the youth who have got ideas and need support to materialise their business plans. We can provide office space at a very reasonable rate on rent in Noida, where setting up the office is a costly affair. We will decide rates for rent in our board meeting, and then will come up with scheme for the start-up project in Sector 82 bus terminal,” said Noida authority chief executive officer Lokesh M.

The terminal building, encompassing 30,643 square metres, boasts of ample parking facilities, with space for 522 cars in the basement, 40 buses on the ground floor, and an additional 100 taxis.

Other amenities include a reception area, booking centre, office spaces, restrooms, a fire control room, a waiting area, a restaurant, a food court, kiosks, and passenger accommodation.

The authority said that on two floors, it has got around 20,000 square feet of space that it will give on rent for the start-up project.