The Yamuna Expressway Industrial Development Authority (Yeida) has decided to develop and allot flatted factories for setting up businesses. These will be allotted on a rent basis to start-ups with minimum funds.
“The flatted factories (readymade built-up space to house factories) are for those who do not have adequate funds to buy land, build factories, and then start their businesses near Noida international airport. With flatted factories, the Uttar Pradesh government wants to encourage those who want to innovate and do not have much financial support to execute their ideas. They can take flatted factories on reasonable rent, and start businesses amid our industrial clusters near the airport,” said Arun Vir Singh, chief executive officer (CEO), Yeida.
Each of the two factories will be developed on a five-acre plots and will be constructed near the Yamuna Expressway in Sectors 28 and 29 for the medical devices and apparel sectors, respectively.
The authority has earmarked Rs 30 crore for the flatted factories and each factory will have 240 units. The planning department has finalised the size of each factory, which will be in the range of 60 square metres to 120 square metres.
“Each of the two factories will be developed on a five-acre plots and will be constructed near the Yamuna Expressway in Sectors 28 and 29 for the medical devices and apparel sectors, respectively. The authority has earmarked Rs 30 crore for the flatted factories and each factory will have 240 units. The planning department has finalised the size of each factory, which will be in the range of 60 square metres to 120 square metres,” the CEO informed.
