Race for industrial plots along Yamuna Expressway hots up

GREATER NOIDA: With the proposed Jewar airport having boosted the prospects of the region, the race to grab industrial plots along Yamuna Expressway is getting intense with each passing day.

YEIDA has managed to give out 700 plots to the takers this time, through a draw of lots held for the four schemes that were floated this year. Planned over 600-acre wide industrial township, nearly 2,300 applicants had shown interest in grabbing these plots. The smallest one on offer measured 450 sqm, while the largest plot measures 4,000 sqm.

Head of YEIDA’s investment cell, Shailendra Bhatia said that the plots over 4,000 sqm are awarded through interviews, while the ones under 4,000 sqm are given out through draws of lots if the number of applicants are higher than the plots available. In total, YEIDA will hand over 180 acres of land to entrepreneurs after developing the area roads, drainage, sewerage and providing water and power supply.

Authority CEO Arun Vir Singh said that the plots booked under the four schemes that floated in this fiscal — MSME Park, Apparel Park, Handicraft Park and Toy Park. “Key members of the industrial bodies were invited for the draw. A retired judge and an IAS officer were invited to preside over the entire proceedings shared live over social media platforms.”

Plots have been sold at Rs 6,670 a sqm. YEIDA has sought a year to develop the sectors and hand over the plots for construction of units. While MSME, Apparel and Handicrafts units will come up in Sector 29, the toy units will be established in Sector 33.

Officials revealed that the majority of the land has been booked by micro, small and medium enterprises interested in setting up manufacturing units. The competition among MSME players for securing plots under 600 sqm was the toughest as for 248 such plots, about 1,100 applicants had shown interest.

Meanwhile, the Toy Park scheme went off successfully with more than a hundred applicants eager to set up shop next to the expressway. Altogether the players have taken 42 acres of land. While 36 acre has been allocated through a draw of lots, the remaining six acres have been given after scrutiny and interviews.

“Some 90% of the land available in the Toy Park scheme has been booked. The allotment process was held in a transparent manner and YEIDA officials have been extremely cooperative,” said Naresh Gautam, vice president of the Toy Association of India.

Bhatia said that details of the total investments and employment opportunities that will be generated through the operations of 700 units will be known in a few days. “We are going through their documents and plans. The Summary report will be ready in a few days,” he said.

The applicants have to pay up 10% of the total land premium upfront and additional 20% within 60 days. The remaining 70% can be paid in instalments over the next five years.