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| Yogi Govt’s new industrial estate policy to fast-track UP’s $1 trillion economy goal by 2027 | | | Early Times Report
Lucknow, Aug 12: The Yogi government has given a green signal to the ‘Micro, Small and Medium Enterprises (MSME) Industrial Estate Management Policy’ to take the state’s industrial development to new heights. The primary objective of this policy is to promote industries through easy and transparent land allocation, modern facilities, and better management, in order to take the state’s economy to 1 trillion dollars by 2027.
Uttar Pradesh, India’s most populous state with the second-largest economy, now aims to boost investor confidence with better infrastructure and transparent processes, targeting an industrial landscape that meets global standards.
Under the new Industrial Estate Management Policy, the allocation of land, sheds, and plots available in industrial estates will be done on lease/rent through auction or e-auction modes.
The lease/rent period will be determined by the Commissioner and Director of Industries, who will also have the authority to select the auction portal. Up to 20% of the area may be allocated for commercial, service, or residential use.
Considering the state’s geographical diversity, reserved prices have also been fixed for industrial plots for the financial year 2025–26. While for the Madhyanchal region the reserved price will be Rs 2,500 per square meter. A hike of 20% has been allocated in Pashchimanchal region at Rs 3,000 per square meter, and 20% lower in Bundelkhand and Purvanchal regions at Rs 2,000 per square meter.
The rates under the policy will increase annually by 5% on April 1. As a special arrangement if an anchor unit is likely to spur significant MSME growth in an industrial estate, the government may offer plots at preferential rates.
The successful bidders in an e-auction will have to pay 10% of the reserved price as earnest money. The remaining amount will be paid in lump sum, within a year, or maximum three years. For bidders making immediate payments will also be eligible for a 2% discount.
For those who will opt the intallment plan, 12 or 36 equal monthly installments will be applicable, attracting additional interest as a penalty for any payment delay.
The policy reserves 10% of all plots and sheds for SC/ST entrepreneurs. If no eligible applicant is found, the plots may be reallocated to other categories to keep development on track.
Industrial estates will be equipped with common facility centres, power substations, fire stations, women hostel, dormitories, crèches, eco-friendly parks, training institutes, and health services. |
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