Noida authority allows subdivision of industrial plots

NOIDA: The subdivision of industrial plots has been allowed in Noida after the Uttar Pradesh government gave its green signal for it following demands from the stakeholders, authority officials said on Wednesday

NOIDA: The subdivision of industrial plots has been allowed in Noida after the Uttar Pradesh government gave its green signal for it following demands from the stakeholders, authority officials said on Wednesday.

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“We have allowed the plot subdivision only for industrial plots following approvals from the state government. We are yet to receive the applications from the entrepreneurs,” said Ritu Maheshwari, chief executive officer, Noida authority.

The objective of the policy is to encourage entrepreneurs, who do not want to invest more in bigger plots and are in need to start business on smaller plots, officials said.

The plot subdivision means a large plot can be divided into smaller ones and sold by the allottee or used for the purposes for which it has been allotted, said the officials. However, the subdivision of plots will not be allowed for either residential or commercial plots.

The authority had in December last year sent a proposal in this regard to the state government.

After the plot subdivision has been allowed in Noida, the Greater Noida authority may soon implement it as the state government has issued directions to all industrial development authorities in this regard, officials said. And the Yamuna Expressway industrial development authority (Yeida) will also follow the footsteps of Noida, said the officials. It means soon the Gautam Budh Nagar district will have the facility to get the plots divided into parts in industrial sectors as the Greater Noida authority has been tasked with preparing draft guidelines for the policy, they said.

“We have sought feedback from all stakeholders, including factory owners in this regard. Once their suggestions are submitted, we will form the guidelines and then get approvals from the state government,” said Shiv Pratap Shukla, officer on special duty, Greater Noida authority.

Once approved, the guidelines will be implemented in Greater Noida and Yamuna Expressway authority areas too, said the officials.

According to the officials, only 50% of the original plot area will be considered for reselling. The Greater Noida authority is also contemplating whether it will be feasible to buy back the land and offer it to the entrepreneurs or allow existing allottees to market it to the interested parties after taking some fees.

According to officials of the industry department, subdivision will be considered only for allottees who have obtained functional letter after commencing operations at least five years back. The divided portion of the plot can be sold to the other entrepreneur with authority’s permission, they said.

The UP government had last month asked the Uttar Pradesh State Industrial Development Authority, Noida authority, Greater Noida authority and Yamuna Expressway Industrial Development Authority to prepare guidelines for the policy.

There are around 13,000 industrial units in Noida, and 7,000 in Greater Noida, while many units are being set up in Yeida area, said the officials.