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Yamuna Expressway Authority allots 109 industrial plots; eyes Rs 16,498 crore investment

For the 109 plots, 3,276 applications were received, of which 3,234 were found eligible for the draw. The land parcels were allotted through a lucky draw

November 18, 2023 / 11:21 AM IST
For Representational Purpose

For Representational Purpose

The Yamuna Expressway Industrial Development Authority (YEIDA) conducted a draw for the allotment of 109 industrial plots located in Sectors 28, 29, 32, and 33 along the Yamuna Expressway that connects Greater Noida with Agra. The move is expected to fetch the authority around Rs 136 crore in revenue, the Authority noted.

According to the Authority, an investment of Rs 16,498 crore is proposed on these industrial plots that will generate an estimated 5,132 jobs.

The Authority launched a scheme for the sale of 109 industrial plots in October 2023. These plots are reserved for different categories of industries, such as toy parks, handicrafts, furniture manufacturing, and micro, small, and medium enterprises (MSMEs), among others.

Under the scheme, industrial plots were offered in eight different sizes — 300 square metres (sqm), 450 sqm, 595 sqm, 1,000 sqm, 1,800 sqm, 2,000 sqm, 3,000 sqm, and 4,000 sqm size.

The authority noted that as many as 3,276 applications were received against 109 industrial plots, of which 3,234 applications were found eligible for the draw. Since the Authority has done away with the e-auction process for industrial plots, following a direction from the Uttar Pradesh government, the land parcels were allotted through a lucky draw.

Under the new norms, industrial plots measuring up to 4,000 sqm will be allotted through a draw of lots or lottery system, whereas plots larger than this size will be allotted based on the company's profile and an interview process.

Also Read: Yamuna Expressway Authority allots 2 out of 5 data centre plots, eyes Rs 1,757 crore investment

Moneycontrol News
first published: Nov 18, 2023 10:25 am

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