India, May 29 -- The Noida authority on Wednesday said it has decided to give a one-time relaxation under its new Unified Policy for the existing industrial plot owners.

The relief is focused at industrial allottees struggling to meet construction and operational deadlines, offering them extended timelines and waiver of certain penalties, officials said.

The policy, implemented on February 25, allows allottees-whose deadlines to complete construction and make plots functional have either expired or will expire within a year-to seek a final extension.

"The plots up to 20,000 square metre (sqm) are eligible for a one-year extension, while larger plots can get an additional two years. The extension comes with a fee of 4% of the plot's pre...