Noida: YEIDA To Launch Flatted Factory Scheme To Attract Start-Ups And Small Budget Investors

The Yamuna Expressway Industrial Development Authority (YEIDA) aims to launch a flatted factory initiative in various sectors, enabling entrepreneurs to establish factories without buying industrial plots.

The move is anticipated to assist start-ups seeking to establish a base in proximity to the Jewar airport.

The CEO of YEIDA, Arun Vir Singh announced plans for the new flatted scheme and the factories are expected to be ready for use within the next year, reports Hindustan Times.

He stated, “We will come up with a flatted scheme next week. Those who want to set up units without buying the plot and building can easily do so. Aspiring businessmen can also take space on rent in these flatted factories and set up their units without investing huge sums of money”.

Flatted factory hubs are multi-storeyed industrial buildings, usually with two or more goods lifts, and constructed or converted for multiple occupation.

The building is subdivided into small, separately occupied units which are used for manufacturing, assembly and associated storage.

Under the scheme, the Authority is set to build four flatted factory complexes at Medical Device Park and Apparel Park in sectors 28 and 29.

As per a Times of India report, two flatted factories will be set up in Apparel Park of 20,000 sq m and 18,000 sq m size, respectively.

Each will be a four-storey building and offer unit sizes in three categories — 84 sq m, 186 sq m and 191 sq m.

This project was approved in August 2022 by the YEIDA board and is expected to house a total of 150 units.

Additionally, the authority recently approved two flatted factories of 10,000 sq m each in Sector 28, which will help industrialists with low budgets to set up factories on rent. It will give space to over 100 units.

With a capacity to accommodate over 250 industrial units, these complexes will allow the Authority to collect rent from tenants.

According to officials, the rising allotment rates in the area have made it difficult for small entrepreneurs to start up their businesses.

The infrastructure with the flatted factories will provide them with affordable options to set up their units.

The primary objective of setting up these complexes is to provide integrated infrastructure facilities, and will give preference to subsidiaries of local large industries, start-ups, small budget investors and associated MSMEs.