NOIDA: To prevent misuse of industrial plot allotments and expedite development, the Yamuna Expressway Industrial Development Authority (YEIDA) implemented stricter rules regarding the transfer of ownership.
The directive issued by YEIDA CEO Arun Vir Singh states that ownership changes — whether due to alterations in the constitution, shareholding, or blood relations — will only be permitted if the allottee has obtained necessary map approvals and started construction on the plot.
“After a comprehensive study of files from the industry department, I noticed several requests for ownership changes without necessary map approvals and construction work on their sites. While there are no legal hurdles to these ownership changes, the intent to foster swift industrial development is being compromised,” said Singh. The new rules are effective immediately. However, inheritance after the death of an allottee will continue to follow the existing procedures.
Singh added that the new guidelines aim to ensure that allottees actively work towards developing their plots and contribute to the industrial growth of the region. President of the Yamuna Expressway Entrepreneurs Association Rishabh Nigam said it would benefit the industry. “This decision will prevent speculative buying by investors and ensure that industrial plots are developed on time, aligning with YEIDA’s broader goals of promoting industrialisation in the region,” Nigam said.
Currently, 12 industrial units have commenced operations in the YEIDA region. Among the notable projects, Vivo has begun production on its 169-acre site in Sector 24A, located off the Yamuna Expressway.
According to YEIDA’s data, layout plans for 264 industries have been approved, and approximately 60-70 companies are expected to initiate production at their manufacturing units by the end of the year.
