Noida: Noida, Greater Noida and Yamuna authorities located in Gautam Buddha Nagar district will now allocate industrial plots under one policy. The policy for allocating industrial plots in Noida, Greater Noida Authority and Yamuna Authority will be the same. Vinod Kumar, General Manager of Finance in Greater Noida Authority, says, that SAARC and Associates has been entrusted with the responsibility of this work by the three authorities. It will be discussed again in the upcoming board meeting and this policy will be implemented soon.
Greater Noida Authority Board has approved
Vinod Kumar further says that SAARC and Associates were entrusted with the responsibility of this work by the authorities. Earlier, a committee of the three officers was formed to prepare the SOP (Standard Operating Procedure), in which a meeting was held between the Finance Controller and General Manager of the three authorities, based on which the Greater Noida Authority Board has approved bringing uniformity in respect of eligibility for allotment, lease rent and other processes.
What will be the effect of a uniform policy?
Now that the policy of allotment of industrial plots of Noida, Greater Noida, and Yamuna authorities is uniform, industrial development in these areas will take a new direction. Attention has been paid to bringing uniformity in eligibility for allotment, lease rent, and other processes so that investors can reap good benefits.
This is the objective
The main objective of this change is to ensure that there is no dilemma in front of the industrialists investing in the district. A uniform policy will bring clarity in eligibility criteria, lease terms, rent structure, and formalities. This will facilitate investors, and the pace of development will accelerate. This change can give a new shape to industrial activities in Gautam Buddha Nagar.
Permission to form a consortium
From now on, a consortium of five companies can be formed for large plots of 10,000 square metres or more. The main member of the consortium will have to hold 51 per cent and other members a minimum of 10 per cent. Also, an agreement (MoA) will have to be prepared, in which the roles and financial responsibilities of all the members will be laid down.
Allotment through e-auction and interview process
E-auction will be conducted for plots up to 8,000 square metres, in which the technical proposals will be evaluated by the screening committee. If three or more applications are received, an e-auction will be held. An interview process will be adopted for plots larger than 8,000 square metres.
Economic norms tightened
Applicants will have to submit a certificate of net worth of Rs 30 crore for plots up to one lakh square metres and a certificate of net worth of Rs 60 crore for plots larger than that. These norms have been made to attract financially capable investors