Noida Authority launches 125 plots for small units

Noida: The Noida Development Authority on Saturday launched a scheme offering 125 industrial plots of varying sizes. The scheme will close on September 22.

The scheme is aimed at developing the small scale industries and attracts investors who are planning to launch a startup or small units.

According to Noida Authority officials, the plots that are offered vary from sizes measuring 450 sq mt to 10,000 sq mt.

However, the authority has focused more to develop plots of smaller size. The authority has fixed a rate of Rs 13,000 per sq mts. The per square meter price of plots with larger area will a bit lesser than the smaller units.

The applicants can download application forms from Noida Authority website.

"The scheme has been launched and the land to develop these plots has been acquired. The majority of these plots are developed in Sector 155. We are hopeful that more and more investors will come forward. We have fixed affordable prices and we are expecting a good response," said Amit Mohan Prasad, CEO, Noida Authority.

"The scheme will also benefit those entrepreneurs who will successfully set up their industries within two years of the allotment of land. A discount of two per cent in the interest rate will be provided to them. The land will be allotted on the lottery basis. Once allotted, the allottees will have to deposit 20 per cent of the total cost at the time of allotment and rest 80 per cent can be deposited within next five years. Apart from this, 33 per cent reservation will be given to those who have been running their industries on a rented property in the city" added Prasad.