Noida Authority reserves 10 plots for startups

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By IE&M Research

Under a new scheme Noida Authority has reserved 10 plots for startups and 33% for expansion of existing industries. The aim is to provide entrepreneurs with a conducive environment for setting up industry and propel industrial growth. This is the first scheme to be launched since the new government came to power in UP. This scheme will be open round-the-clock till September 22, 2017.

Applicants will have to upload their project details along with the investment details and timelines for making the project functional. Allotment of plots up to 4,000 square metres will be done by lottery, applications for plots measuring above will be scrutinised by a screening committee. Under the scheme, the Authority has also introduced a special payment option. 20% will have to be paid upfront at the time of allotment, and the balance 80% will have to be paid in 10 instalments. Not only will the allotment procedure be made online, but the land will also be allotted within a short time. Very soon, another industrial scheme across two other sectors 156 and 157 in the city will be launched.

About the author: IE&M Team

Indian Economy & Market is an Indian media and information platform producing data-backed news and analysis on all the vital elements at the intersection of the economy, stock markets, mutual fund, insurance, commodities, currency, technology, startups and business.

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