Noida authority allots four new plots to boost industrial growth

With the Noida Authority allotting land to private firms to attract investments and create new job opportunities, sectors 151, 156-159 and the adjoining areas are

With the Noida Authority allotting land to private firms to attract investments and create new job opportunities, sectors 151, 156-159 and the adjoining areas are fast emerging as the new industrial hubs along the Noida-Greater Noida Expressway.

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The authority on Monday allotted four plots to private firms in these areas to tide over the growing economic crisis set in motion by the outbreak of coronavirus disease (Covid-19) pandemic. As per officials of the Noida Authority, old industrial sectors of 1-11, 55-59, 63, 67, 82 and Phase-2 no longer have fresh plots for new business activities. The new sectors along the expressway that have better connectivity and infrastructure is likely to witness a substantial industrial growth in the coming months, said officials of the authority.

“We have allotted 2,100sq m-sized plots to various industries and have earned a total of ₹12.34 crore in revenue. The four allotment will attract a total investment of ₹35 crore and will create at least 500 new jobs in the city. Sectors like 151, 155, 156, 157 and others along the Noida-Greater Noida Expressway are all set to transform into industrial hubs in the coming months. The authority is also working on preparing more industrial land to be allotted ahead,” said Avinash Tripathi, officer on special duty, Noida Authority.

The allotment is a part of a new scheme for industrial development launched by the Noida Authority on January 1, 2020. The scheme was suspended towards February-end and all new allotments were put on hold after the nationwide lockdown came into existence on March 25. The online land allotment scheme restarted in the first week of April

“Now with the easing of the lockdown restrictions, we have started selecting successful applicants from a draw of lots. We have plots of several sizes, including 250 metres, 400 metres, 2,100 metres and 4,000 metres or above for this scheme. We will keep allotting plots along the expressway following due procedures,” said Tripathi.

In addition to allotting plots, the authority is also carrying out development activities in the new sectors so that industrial units can be quickly set up.“We will start giving possession to those who will start paying the land cost,” said Tripathi.

At present, the authority has at least 300 hectares of land for the industrial use. “We are identifying more plots and also working on creating a land bank,” said Tripathi.

Apart from this the authority also allotted 4,000sq m plots via an interview process during the lockdown. The big industrial plots are allotted via interview unlike small ones, which are always alloted through draw of lots, said officials.

Earlier, on June 16, the authority had earned a total revenue of at least ₹300 crore by allotting 212,745.68 square metres of land across nine industrial plots to different companies. These plots are expected to cumulatively generate over 5,500 jobs over the next two years.“With the earlier and fresh allotments taken together, the authority is expected to earn a total revenue of ₹300 crore, while the city will get around ₹870 crore in investments. These firms are likely to create over 5,600 jobs over the next two years,” said Tripathi.

The new firms to whom the allotments have been made will produce sewing equipment, ready-made garments, packaging material, among others.