NOIDA: Noida Authority is set to introduce its first industrial plot scheme under a new policy designed to bolster the micro, small, and medium enterprises (MSME) sector. The initial phase will feature 17 plots through an e-auction process, with their sizes varying from 200 to 7,500sqm.
Spread across sectors 7, 8, 10, 62, 80, and 164, these plots will have a total area of around 60,000sqm. Authority officials confirmed that the scheme would be launched anytime soon as most administrative preparations were already complete.
Authority officials are also actively scouting for additional vacant land in other sectors for future development phases, aiming to create more opportunities for small and medium business expansion in the city.
This initiative follows a significant policy revision approved during a joint board meeting of the Noida and Greater Noida authorities last month. The policy change aligns with a state govt directive from Dec 26, 2024, which mandated a uniform allotment policy across Noida, Greater Noida, and Yamuna Expressway authority areas.
The new framework stipulates that industrial plots up to 8,000sqm will be allocated through e-auction, with a clear focus on supporting genuine entrepreneurs rather than speculative investors. For plots exceeding 8,000sqm, the allocation process will involve interviews and specific evaluation criteria.
Chief secretary and industrial development commissioner Manoj Kumar Singh has emphasised the necessity of maintaining transparency in the industrial plot allotment process.
According to the e-auction’s terms, potential allottees would have to make an initial deposit of 10% of the plot’s reserve price to participate in the process. Successful bidders must then pay 30% of the total cost immediately, with the remaining amount payable in scheduled instalments.
The e-auction system has, however, drawn criticism from some industry associations. They have expressed concern that small business owners might be disadvantaged, as the system could potentially favour property dealers and large investors with greater financial capabilities. These groups have proposed an alternative lottery system for plots larger than 2,000sqm to ensure fairer access for genuine MSME businesses.
Despite these concerns, Authority officials said they were committed to implementing the govt’s prescribed allotment policy. A comprehensive brochure detailing the terms, conditions, and eligibility criteria for participation in the e-auction will be released soon, providing potential investors with clear guidelines for the application process.
