The industrial sector in India is a booming market where choosing the correct location for an industrial venture for any business is the key factor for a successful business. That’s because location determines a major portion of the growth of the business. In India, there are few major Indian metropolises that provide better ground for development than semi-urban and rural localities. But to pick a perfect spot, we need to compare industrial land for sale in chennai with those in other major Indian metro cities for a profitable decision.
Chennai’s Industrial Landscape:
Chennai is the best location for a strong industrial base with diverse industries like automobiles, IT/ITES, and manufacturing domains. This city shines with a huge investment opportunity on industrial lands with a range of benefits:
- Solid Infrastructure: Chennai is a perfectly equipped city with a strong network of ports, railways, and roads, promising smooth goods movement. This connectivity reduces transportation costs and streamlines logistics.
- Skilled Workforce: Chennai is known for its large scale of skilled labor. There will be ready access to a workforce capable of working for different industrial needs. It reduces the need for extensive training and promises smooth operational flow.
- SEZs and Industrial Parks: Special Economic Zones (SEZs) and industrial parks are the top attractions for investors to invest in industrial plots at Chennai. That’s because these zones offer incentives like tax breaks and simplified regulations. These incentives increase cost savings and streamline the business landscape.
- Relatively Lower Costs: When we compare to other metro cities, Chennai provides more affordable industrial land compared to other major metros. This allows investors to secure a prime location at the best price, attracting businesses looking for cost-effective industrial lands.
Challenges in Chennai:
Even in Chennai, there are some challenges faced by investors:
- Limited Land Availability: Even though Chennai is the best spot for industrial lands, finding suitable land within city limits is difficult due to increased urbanization, so sometimes it’s better to explore slightly outside.
- Bureaucracy: Streamlining the process of obtaining permits and clearance can consume time. So patience is needed to sign the deal with the bureaucracy.
- Seasonal Flooding: There are certain areas vulnerable to seasonal flooding; it’s a necessity to carefully consider this when selecting a site, which requires additional investment in infrastructural development to reduce potential risks.
Comparison with Other Metros:
Let’s breakdown the opportunities around industrial plots in Chennai compared to other major Indian cities:
- Mumbai: Mumbai is among the few cities that have a strong industrial base and first-class access to international markets. However, in recent days, the land costs in Mumbai have been extremely high compared to Chennai.
- Delhi-NCR: The national capital region of Delhi provides a huge consumer base and the best infrastructure. But the land price in Delhi is similar to that in Mumbai, which is so high.
- Pune: Apart from Mumbai and Delhi, Pune is India’s developing industrial hub with a growing IT and automobile presence. Even though it holds good potential for land appreciation, the cost of the land is slightly higher than in Chennai.
- Bangalore: Apart from all other cities in India, Bangalore is a major IT hub with a best-class workforce and modern infrastructure. However, when it comes to the availability of land, it’s limited, and the price of the land is comparably higher than in Chennai.
Factors to consider:
Beyond the huge spectrum of comparison, there are a few factors to consider while making a strong decision:
- Industry Type: needs and requirements for your industry, like accessibility to raw materials and transportation, will impact the location.
- Investment Budget: The cost of land, expenses on infrastructure development, and government incentives will influence your budget.
- Availability of Labor: Access to a skilled and efficient workforce with proper expertise is important.
- Future Growth Potential: The city’s future development plans and infrastructure investments will directly impact your business.
On the whole, among all other cities, Chennai is a highly practical and positive option for investing in industrial lands with the best infrastructure, a skilled workforce, and competitive pricing on land. However, challenges exist, so it’s important to compare Chennai with other metro cities in India based on your industry’s needs and investment goals. So if you’re unaware of the market for industrial land for sale in Chennai, then consult experts in Chennai, even reputed builders specializing in industrial land, for comprehensive evaluations.
