IITGL to launch industrial plot scheme in Greater Noida soon

Greater Noida The Integrated Industrial Township Greater Noida Limited (IITGL), an authority formed by the Uttar Pradesh government to develop dedicated industrial townships, will soon come up with a plot scheme for big industrial projects in Greater Noida, in a bid to attract international and domestic investors to the region

Greater Noida The Integrated Industrial Township Greater Noida Limited (IITGL), an authority formed by the Uttar Pradesh government to develop dedicated industrial townships, will soon come up with a plot scheme for big industrial projects in Greater Noida, in a bid to attract international and domestic investors to the region.

HT Image

The IITGL will allot at least 260 acres of land, which was earlier meant for research and development (R&D) units, for the industrial projects, officials said on Monday. It is 40 kilometres away from the Jewar airport project site, and the land use change was done from R&D to any kind of non-polluting industrial units in 2020-end.

“We are completing all the formalities and will launch the scheme by the end of July 2021. We will check credentials and financial background of firms before allotting the industrial plots to them through a lucky draw, and then interview the firm owners to finalise the deal,” said Narendra Bhooshan, chief executive officer (CEO) of IITGL.

Mumbai-based developer, Shapoorji Pallonji, will develop the township near the Jewar airport project site. The Yamuna International Airport Private Limited (YIAPL), the special purpose vehicle of the state government, is developing the Jewar airport in Greater Noida, and the Switzerland company Zurich AG, the concessionaire of the airport project, is engaged in developmental and operational work of the airport project that is likely to become operational in 2024.

The Yogi Adityanath-led government in Uttar Pradesh had formed the IITG in Gautam Budh Nagar in August 2016, and the IITGL started allotting industrial plots in an integrated township spread over 747 acres to the developers from 2017. 50% of the total 747 acres available is earmarked for industrial usage and the remaining for residential and commercial purposes.

The authority has already allotted land to several China-based home appliances companies, and they are setting up their units in the township.

“We will offer tailor-made plots of 5 or 20 acres for allowing green units here. We will soon declare the launching date of the scheme. So far, we have got nearly ₹3,600-crore investment for this township. We hope that we will soon allot the remaining land, and we will be able to generate sufficient employment opportunities in this region,” Bhooshan said.