NOIDA: The Noida and Greater Noida authorities will cancel the allotments of over 1,000 plots lying unused for years. The decision was taken during a meeting with industrial development commissioner Manoj Kumar Singh on Monday.
A notification issued by UP government in 2022 stated lease agreements of plots allotted to industrial, information technology and information technology-enabled units, which were not operational by December 31, 2022, will be revoked and e-auctioned to new investors.
So far, the Noida Authority has issued notices to more than 500 units and initiated a process to cancel lease agreements of 40 units following a survey, a senior official said. In Greater Noida, notices have been issued to over 600 industrial, IT and ITES units and a cancellation process initiated against 44. Of these 44 units, around 30 are ITs or ITES and the others are industrial units.
On Monday, Singh reviewed the IT, industrial and institutional plot allocations in Noida and Greater Noida. He said several allottees were still sitting on these plots but had not started constructing buildings. “These allocations will be cancelled,” he said.
Singh also said completion and operation certificates should be issued to the allottees who have completed the minimum construction, as per the provisions, after completing all formalities.
The Noida-Greater Noida-Yamuna Expressway belt has emerged as a major investment destination for IT companies, telecom equipment manufacturers, and data centres with the upcoming airport likely to further boost investments in the region. The region is expected to become a tech and manufacturing hub, competing with cities like Gurgaon, Bengaluru, Hyderabad and Pune. In the UP Global Investors Summit 2023, Noida bagged 27% (Rs 7.85 lakh crore) of the total investment intents — more than 18,000 MoUs for investment intents, worth over Rs 33.50 lakh crore, were signed by UP.
In December last year, the chief minister directed the heads of the three authorities to increase land bank, if needed, by cracking down on encroachers. Singh said a fresh survey of the vacant plots will soon be conducted to identify unused plots and “reallotted to more willing investors”.
