Chhatrapati Sambhajinagar
The Maharashtra Industrial Development Corporation (MIDC) plans to give entrepreneurs another one-year extension to complete construction on their allotted plots, sources said. This comes after many failed to finish building and start industries even after the previous deadline of June 2025.
MIDC allots plots for industrial development, requiring entrepreneurs to get building plans approved and complete construction within a set period. Starting operations on time boosts employment and economic activity.
Some entrepreneurs, however, do not finish construction on time. MIDC imposes penalties in such cases and issues construction certificates once at least 20% of the approved building is completed.
Two years ago, the Industries Minister had warned that plots of non-compliant entrepreneurs could be taken back but had granted them an additional year. Now, the MIDC board will review a new proposal for another one-year extension. If the board rejects it, plots may be reclaimed from entrepreneurs who fail to construct and start operations within the stipulated period.