The Yamuna Expressway Industrial Development Authority (YEDA) has decided to develop and allot residential factories for setting up of industries. These will be allotted on rental basis to companies who will set up with minimal capital.
“The flat factories (ready-made building spaces to house factories) are for those who do not have enough capital to purchase land, set up a factory and start their business near Noida International Airport. With the flat factories, the Uttar Pradesh government wants to encourage those who want to innovate but do not have much financial backing to execute their ideas. They can rent a flat factory at reasonable rent and start their business in the industrial cluster near the airport,” said Arun Bir Singh, CEO, Yeda.
Officials said Yeda has initially decided to build two apartment complexes, with plans to develop larger facilities depending on demand.
“The two factories will be developed on five acres each and set up in Sectors 28 and 29 near the Yamuna Expressway for the medical devices and apparel sectors respectively,” officials said. ₹“The apartment factories will be constructed at a cost of Rs 300 crore and each factory will have 240 units. The planning department is finalising the size of each factory, which will range from 60 sq metres to 120 sq metres,” the CEO said.
The Uttar Pradesh government had directed to set up a housing complex factory in Yeida to create opportunities for start-ups and other small and medium-sized enterprises.
The facility will include shared amenities such as an exhibition center, cafeteria and parking for 1,000 cars.
The Yamuna River Authority will lease these units to companies, which will soon start construction work at the sites.
Yeda plans to set up factories with residential complexes in Sector 28, where it is also developing a medical equipment park, and Sector 29, where it is developing an apparel park project for textile companies.
The authorities decided to come up with this scheme for entrepreneurs after a team of senior officials returned from a nine-day overseas tour in October 2022, during which they held a “roadshow” to lure investors to the Noida region.
These roadshows were held in countries such as Japan, South Korea, Singapore and Germany, helping government officials understand how the flat factory plan could be beneficial for startups.
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