Noida: Industrial plots off near the upcoming Noida International Airport have one thing in common—tin sheds.While construction of factory units is far from over, with no man or machinery to be seen anywhere, most industrial plot allottees have erected large tin sheds—and a few even gates and fitted a one or two equipment for display—to create the illusion of an operational unit, meeting just the bare minimum to qualify for a functional certificate and resale at premium rates.The Yamuna Expressway Industrial Development Authority (YEIDA) is currently developing sectors 24, 24A, 28, 29, 30, 32 and 33 as industrial zones. It is also in the process of developing new sectors as a future hotspot for fintech, semiconductor and other high-tech industries due to their proximity to the airport. As of now, 3,041 industrial plots have been allotted in these sectors. Of these, 2,297 have been issued checklists and 1,836 executed lease deeds. The Authority said possession was handed over for 1,235 plots, and close to 1,000 allottees have had their building maps approved.However, actual construction activity in these sectors is minimal—only about 15 units are functional on site.According to Yamuna Expressway Entrepreneurs Association president Rishabh Nigam, many plot holders have no intention of starting actual business operations. Instead, they aim to secure a functional certificate by setting up tin sheds at minimal cost—around Rs 9–10 lakh for a 300-square-metre plot—compared to over Rs 30 lakh for concrete construction.Once certified functional, they intend to resale the plots as their values are to go up several times in the resale market, he added. Sources said there have been reports of industrial plots being sold under questionable circumstances in the past few weeks.Tin sheds were also in a way helping allottees avoid penalties imposed on industrial units that fail to become functional within four years of the lease deed under UP govt norms.In response, the YEIDA has tightened regulations. OSD Shailendra Bhatia stated that functional certificates would now be issued only after 50% of a total plot area was developed using concrete. Tin sheds would be permitted only on the remaining portion.This measure, YEIDA officials said, will curb speculative behaviour and ensure that only genuine entrepreneurs benefit from industrial allotments. “It will not only prevent misuse by those aiming to flip plots but also accelerate real industrial development in the region,” Bhatia said.
