Recently, the market for industrial land in Chennai has increased because of its role as a major industrial hub in India. But what makes Chennai an even more attractive location for businesses to thrive? The answer lies in the growth of infrastructure projects that could make the environment more suitable for boosting the industrial landscape. So we will look into a few infrastructure initiatives that are currently underway and explore their significance in increasing the value of commercial land for sale in Chennai. Get ready to discover the shining future of Chennai’s industrial sector.
Top Infrastructure Projects
Chennai is among the top industrial hubs in India, which is because of the many infrastructure projects that are underway and expected to further increase the value of industrial lands. Here are a few important projects:
- Chennai Peripheral Road (CPR): CPR is a 111-kilometer-long highway constructed to decongest heavy vehicle traffic by providing a bypass in Chennai. It naturally connects with existing highways from Chennai, which helps industrial areas and ports in Chennai make commuting easy and reduce travel time.
- Madras Metro Rail Project: In recent days, the metro rail project in Chennai has been an important investment by the government for enhancing public transport, which improves inter-connectivity within the city. It provides fast and comfortable transport that attracts workers to locate themselves around the area, not close to industrial zones but easily connected to those zones.
- Chennai-Kolkata Industrial Corridor (CKIC): This is one of the planned industrial corridors that connects Chennai and Kolkata, which is another industrial city in eastern India. This area attracts new businesses for industrial activities that revolve around Chennai and Kolkata and boosts the growth of existing businesses.
- Expansion of Chennai and Ennore Ports: Chennai port trust is hugely investing in the expansion of the capacity of Ennore and chennai ports, which increases the handling capabilities and attracts new businesses to chennai, creating a demand for industrial lands
- Chennai-Karnataka Industrial Corridor Project (CKIC): This upcoming project is handled by the national industrial corridor development and implementation trust (NICDIT) which is now underway and expected to be finished by 2025. This project will create a 270 km long industrial corridor between Chennai and Karnataka with world-class infrastructure facilities and attract investments from different sectors like electronics, pharmaceuticals and automobiles. so this project has a high expectation to have a positive impact on the market of chennai’s industrial and logistics park.
- Madras Export Processing Zone (MEPZ) and SIPCOT: The MEPZ and SIPCOT are two of the two largest industrial parks in Chennai. Also, the government is heavily investing in enhancing the facilities with global infrastructure, which includes proper power and water supplies and wastewater management systems. Such kinds of upgrades make these parks even more attractive for investors to invest in, resulting in an increase in land prices around these zones and creating a thriving community of industries.
- Chennai Greenfield Airport Project: Recently, the government has planned to develop a new airport in Parandur, which is another interesting project that is expected to increase industrial activities in Chennai. That’s because airports directly improve connectivity to other major industrial centers in India and abroad. These connectivity will increase new industries in Chennai, raising the demand for land, especially industrial land in the surrounding areas.
The above-mentioned infrastructure projects are in process in Chennai. Without hesitation, we can assure you that these projects are directly nurturing a positive environment for industrial development in Chennai. Such projects increase both demand and the value of industrial land.
Additional Initiatives:
Apart from these infrastructure projects mentioned above, there are a few other initiatives the government is investing in to enhance the business environment in Chennai. These initiatives include:
- Streamlining the approval process to make it more systematic for new business proposals
- Allocating tax breaks and other forms of incentives to include investment
- Creating a skilled workforce in the locality
These initiatives may not directly influence the attraction of the location, but they impact the locality and further boost the demand for industrial lands in these areas.
On the whole, these kinds of infrastructure projects are changing the industrial environment of Chennai by increasing connectivity, decreasing the cost of logistics, and developing a business-friendly landscape. These projects are making Chennai a more thriving and attractive spot for industries, creating demand for commercial land for sale in Chennai.
