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Economic development

Yeida Warns Industrial Plot Owners of Cancellation if Units Remain Non-Operational

Strategic Insights

— 1 min read

In a move to tighten regulations and prevent owners from misusing industrial plots, the Yamuna Expressway Industrial Development Authority (Yeida) has issued a warning to owners of industrial plots, stating that non-operational units will be canceled and owners will face penalties if they sell plots without setting up a functional unit. The decision comes after a site inspection by Yeida CEO Arun Vir Singh revealed that many units were non-operational. The authority has already started a site survey in various sectors to ascertain the operational status of units. This move aims to prevent temporary tin sheds from being used as a facade for non-operational units, allowing owners to sell plots without starting any business.

Key Takeaways:

  • The Yeida has warned owners of industrial plots that non-operational units will be canceled, and owners will face penalties if they sell plots without setting up a functional unit.
  • The authority has started a site survey in various sectors, including Sector 28, 29, 30, 32, and 33, to ascertain the operational status of units.
  • Yeida CEO Arun Vir Singh inspected 14 units in Sector 29 and found them to be non-functional.
  • The authority has asked the Gautam Budh Nagar district magistrate (DM) for details of the agreement to sale, general power of attorney, and other documents through which industrial plots have been sold.
  • According to Yeida data, it has allotted 1,233 industrial plots before 2013 and 3,215 plots since 2013 to set up industrial units of various categories.
  • A large number of units remain non-functional, failing to create business opportunities or jobs in the region.
  • Yeida has made it clear that plot owners will have to construct at least half of the building with concrete instead of a temporary shed to obtain an operational certificate.
  • The Rishabh Nigam, president of the Yamuna Expressway entrepreneur association, has welcomed the move, stating it is a much-needed step in the right direction.

Statistics:

  • Yeida has allotted 1,233 industrial plots before 2013.
  • Since 2013, it has allotted 3,215 industrial plots to set up units of various categories.
  • The authority has made it clear that owners will have to construct at least half of the building with concrete to obtain an operational certificate.

Sources:

  • Hindustan Times - "Yeida warns industrial plot owners of cancellation if units remain non-operational"

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