July 7 last day to apply for plots at Medical Device Park

After announcing a slew of waivers for companies interested in setting up units at the Medical Device Park, the Yamuna Expressway Industrial Development Authority (Yeida) has now extended the last date to apply for the plots from June 22 to July 7

After announcing a slew of waivers for companies interested in setting up units at the Medical Device Park, the Yamuna Expressway Industrial Development Authority (Yeida) has now extended the last date to apply for the plots from June 22 to July 7.

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After a long wait, the authority on May 23 this year launched the plot scheme in the country’s first Medical Device Park. The authority extended the deadline to apply for the plots as it is expecting many reputed companies will apply for the scheme, especially after a host of subsidies were announced for the companies interested in setting up units at the park.

The central government gave its approval to waiving off the stamp duty fee for medical device plots, exempting interest up to ₹2 crore on machinery for the companies, state service tax waiver, 50% waiver on electricity and other waivers, said officials.

The Yeida wants international companies to set up units in the park to attract foreign investment in the region, said officials.

“We have extended the date of the scheme so that the interested companies can apply for plots in the Medical Device Park,” said Monika Rani, additional CEO of Yeida.

The Yeida is developing north India’s first Medical Device Park on 350 acres of land in Sector 28 along Yamuna Expressway near Jewar airport site. To begin with, the Yeida is selling 126 plots measuring between 1,000 square metres to 4,000 square meters on 110 acres of land. The remaining plots will be allotted via lucky draw in the second phase, said officials. The Yeida has also roped in Ernst & Young as a consultant that will monitor and help in the development of this project.

The Medical Device Park will be home to units, which will manufacture equipment such as X-Ray machines, ventilators, blood pressure monitors, pacemakers and others, said officials.