Noida’s New Industrial Policy Sets Fixed Time for Developing Units

industrial-plotDelhi/ NCR: With an intention of fast pace development of the industrial sector, Noida Authority have decided to discard the policy that provides extended period for setting up working units to the industrial plot allottees. According to this policy, the allotees were allowed to pay insignificant amount as penalty in place of delay in running units.The city Authority has launched new policy with respect to the allotment of industrial plots in Noida. According to the industrial association of Noida, the new scheme launched by the city authority will have a clause that states fixed time for setting up the units in the industrial zone. The allotees are not permitted to hold on to their plots after the period of three years, if the development of functional units does not take place. The Noida Authority has currently started a scheme for allocating industrial plots in Phase II and Phase III industrial areas through lucky draw.The industries which are associated to Noida Entrepreneurs’ Association (NEA) were satisfied with this new policy as the move will help to improve the industrialization within the city and it will also restrict acquisition of industrial plots for investment in land. The association stated that the clauses in the policy will however grant the authority the right to permit extension in case of valid reasons. According to the president of NEA, the scheme would ensure security for the genuine investors who are intending to set up the functional units.According to the industrialists, the development of the functional units were delayed earlier because the authority used to provide lands in areas which were not developed properly in terms of infrastructure, electricity and water. Whereas, the current plots allotted by the authority are present in well-developed areas with proper facilities.займ на карту без отказов круглосуточновзять кредит онлайн

Leave a Reply

Your email address will not be published. Required fields are marked *