UP notifies MSME industrial estate management policy
The policy was approved by the state cabinet last week. These estates were established in the 1960s. However, there was no method to manage them. Since 1978, the task was undertaken by the state govt via specific orders, which were not up to the mark. As a result, over time, they became a liability. Therefore, the policy was drafted to streamline their management and also make them a revenue-generating asset. As per the policy, industrial plots and sheds will now be allotted via e-auction on lease/rent.
The parties who apply for the e-auction will have to submit 10% of the cost of the land as earnest money. Officials concerned said that entrepreneurs must pay the full amount for plots allocated in industrial areas within a three-year timeframe. If they fail, the plot allocation may be cancelled. The highest rates will be in the western region and the lowest in the eastern region. According to the order, for 2025-26, the reserve price for plot allocation is set at Rs 2,500 per sqmt in the central region, Rs 3,000 per sqmt in the western region, and Rs 2,000 per sqmt in the eastern-Bundelkhand region. This price will increase by 5% annually. If an entrepreneur opts for immediate payment, a 2% discount will be provided. The authority to declare an anchor unit will rest with the govt.
As per the policy, 10% of the total number of plots will be allocated to individuals or firms in the SC-ST category in each region. The basis for plot allocation cancellation is also defined in the order.
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