Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
The Uttar Pradesh government has approved the Private Business Park Development Scheme-2025 to facilitate development of plug-and-play commercial infrastructure aimed at attracting global companies, GCCs and R&D centres. The policy enables private developers to build and operate integrated business parks under a public-private partnership model, with a minimum land requirement of 10 acres. The initiative is designed to reduce project gestation periods, improve ease of doing business and support investment inflows, particularly in services and technology sectors. With long-term concession structures and revenue-sharing mechanisms, the scheme seeks to expand organised commercial real estate supply while promoting employment generation and industrial clustering across the state.
The Government of Uttar Pradesh has approved the Private Business Park Development Scheme-2025 in the past week, introducing a framework to enable private sector-led development of integrated commercial parks aimed at attracting multinational companies, Global Capability Centres and research and development facilities across the state. The initiative is intended to strengthen the commercial real estate ecosystem by providing ready-to-use infrastructure for enterprises seeking faster operational set-up. Advertisement
Under the scheme, business parks will be developed through a Design, Build, Finance, Operate and Transfer (DBFOT) model, with private developers responsible for execution, financing and management during the concession period. Each project will have a concession tenure of 45 years, extendable further, after which assets will be transferred to the state government.
The policy mandates a minimum land parcel of 10 acres for each business park, with flexibility based on location and feasibility. These parks are envisaged as integrated developments offering office spaces, research facilities and infrastructure suited for knowledge-based industries. A portion of the developed space is expected to cater to ancillary uses such as retail and support services, ensuring operational viability and ecosystem development.
Officials have indicated that the scheme aims to address key challenges faced by businesses, including high upfront land costs, long gestation periods and delays in project execution due to inadequate infrastructure. By offering plug-and-play facilities, the policy seeks to reduce entry barriers for companies and enable faster commencement of operations.
The financial structure of the scheme includes an upfront land premium along with revenue-sharing arrangements between developers and the state. Project allocation will follow a structured bidding process, with proposals evaluated by a screening committee and final approvals granted by the competent authority. Developers will also be required to adhere to reporting norms, including periodic progress and financial disclosures.
Eligibility criteria have been framed to ensure participation by established developers, real estate investment trusts and consortiums with relevant experience in business park development and management. In addition, developers may be required to secure commitments from anchor tenants, particularly global firms, to ensure utilisation and viability of projects.
The initiative aligns with the state's broader industrial strategy, which focuses on enhancing ease of doing business and attracting investment in high-growth sectors such as technology and services. By promoting organised commercial infrastructure, the scheme is expected to support employment generation, encourage industrial clustering and create new business districts beyond established urban centres.
The introduction of private business parks reflects a shift towards structured commercial real estate development driven by public-private collaboration. With increasing demand for Grade-A office spaces and integrated work environments, such policies are likely to influence investment patterns and reshape the commercial property landscape across emerging growth corridors in Uttar Pradesh.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
