Shakuntalam Landcraft, a real estate firm, is planning to invest Rs 1,500 crore in developing an industrial park in Surajpur, Greater Noida. The park will cover an area of 204 acres and will have the capacity to house over 600 micro, small, and medium enterprises (MSMEs). This could potentially lead to the production of goods worth Rs 50,000 crore and create around 25,000 direct and indirect jobs. The UP government approved the PLEDGE scheme in January this year, allowing private companies to develop industrial parks in the state. Among benefits, the scheme provides a 100 per cent exemption on stamp duty. Industrial parks are the areas zoned for industrial development, mainly containing offices and light industries instead of heavy industrial sites. These zones are located away from residential areas and have special facilities and infrastructure appropriate for workspaces.