UP Govt. to Set Up Electronics City Near Jewar Airport
In order to establish an electronics city in UP, a 700-acre land near Noida International Airport in Jewar has been selected by the Uttar Pradesh government. The government shared that the project will encourage industries manufacturing electronic components.
According to some sources, the UP government is focusing on electronics manufacturing policies, information technology and start-ups. The project is for encouraging the electronics manufacturing sector.
Earlier, YEIDA (Yamuna Expressway Industrial Development Authority) had set aside 103 acres in Sector 33 for setting up Electronics City. However, the sector was then earmarked for developing Toy Park.
According to a news portal, that the interested people will get several incentives, such as subsidy on interest and capital payment, common infrastructure development, tax reimbursement and up to 100% exemption on stamp duty.
The manufacturers would also be offered a 25% rebate on the prevailing sector rate. While initially, the plan was to offer a maximum FAR of 3 in Sector 33, including the purchasable component of such units, YEIDA will now have to reconsider the maximum limit and bring down the permissible FAR because of the proximity of Sector 7 to the airport boundary.
This new airport has attracted a lot business opportunity in UP. Not only electronics city, UP government is also planning to make Film City and a Raya Heritage City in the area to not only attract investments, but also boost tourism.
