Noida: Transfer of ownership of non-operational industrial units will no longer be permitted in Noida.
The decision was taken by the Noida Authority Board on Friday.
However, officials said that the unit could start operations and then look for the transfer of ownership to the second buyer.
Over the years, 10,843 industrial units have been allocated in Noida to entrepreneurs.
A recent survey has found that almost 1,600 industrial units are not operating or have not been utilized.
Officials clarify that there is no cancellation that will occur and the aim is to produce more work.
“People like that can get their units functional and look for functional letters from authority.
Once they get a functional letter, they will be allowed to sell their units,” said CEO Noida Ritu Maheshwari.
However, for functional transfer units, allottee must pay 4% of applicable land premiums.
Similarly, institutional plot transfers that have not been made functional are also not permitted.
So far, Noida’s authority has allocated 1,185 institutional plots.