These are the 10 things you must take into consideration when looking for an Industrial plot to purchase in India. How to Choose Industrial Plots in India
Delhi has state-recognized industrial plots. A number of options are available for the investor to set up a business unit in consultation with the State Industrial Corporations (IDCs). A merit-based decision is then made for each application. How to Choose Industrial Plots in India
There is a dearth of industrial plots for sale in the big cities in Delhi, NCR. However, there are some good pieces of land available in smaller towns and in the suburbs. It’s important to ensure that buying Industrial land in India is right for your business and for the long-term before buying. How to Choose Industrial Plots in India
Topography is another important factor to consider. It is necessary to consider topographic information such as the altitude above sea level and the surrounding areas. Groundwater and soil quality in that particular area can heavily influence land value and construction costs. The selected site must also be large enough to accommodate your immediate needs as well as future growth if required. Having a regular shape makes planning easier.
Development of industrial infrastructure like power distribution network, water, roads, banks, raw materials, storage, and marketing outlets, telecommunications, pollution control, water supply, and technology backup services for Micro, Small, and Medium Enterprises and Large Scale Integration in new and existing industrial estates. The cost of building an entry road might limit the potential of a site if roads are nearby but too far away.
3) The logistics and connectivity of the site:
India has poor logistic infrastructure. Because India is such a vast country, it doesn’t have enough roads, rails, and air connections. The manufacturing sector and logistics sector are fundamentally linked. After production, goods must be transported to complete the manufacturing process. More and more goods will be produced in the country in our country because of the ambitious Make in India campaign, which aims to make India a global export powerhouse, as well as reducing dependency on imports. Make in India’s initiatives will not succeed without a strong logistics sector. If the Make-in-India initiative is to succeed, the logistics sector must keep up with the growth.
4) Selecting a Location:
Making a decision about where to build isn’t difficult. Basically, you find land, offer a price, you confer and deal. But what we really need to pay attention to is its location. In choosing an Industry land, a number of factors are taken into consideration, such as the proximity to infrastructure, markets, landmarks, and nearby cities and states.
5) Land Title:
In order to buy the land, you have to look into its history – whether there are any rights to the land or if any rights will arise after you own it. Make sure you always look at the ownership documents of your property. Later, you will not have to deal with those headaches. You should ensure you have legal counsel on all the documents that need to be approved.
6) Land Acquisition:
The acquisition of land by various industrialists has been the subject of increasing political and social protest. Most recently, they have roamed from Bengal and Uttar Pradesh. Several people protested the acquisition of 997 acres of land in Bengal by Tata Motors for the purpose of setting up a factory for the low-cost car. Several years before the Singur episode, similar events took place in West Bengal, although the opposition parties and civil society organizations remained silent. The World Bank canceled the Sardar Sarovar Dam project on the river Narmada, which was planned on land acquired.
7) Guidelines and Procedures for Construction:
It is important to look into the various government guidelines for choosing a location for your factory, searching permits from various departments (including electricity, water, etc.), and filing registrations along with the necessary fees and taxes.
A land’s Floor Space Index (F.S.I.) or Floor Area Ratio (F.A.R.) is also an important indicator to examine before buying it. A floor space index gives a measure of how much space can be used for construction. Zoning codes use the floor area ratio to determine a building’s density. More urban construction usually indicates a higher Floor Area Ratio.
8) Policies of the State:
Both the Central Government and the State Governments issue policies. It is possible for policies to go from being relevant to a variety of sectors to be specific to just one.
The policies of a particular industry can determine the level of growth potential as well as how easily it will be to do business there. Entrepreneurs should therefore pay close attention to both Central and State policies.
Several policy measures, incentive procedures, and schemes have been introduced by the State and the Central governments for various industries, especially in certain sectors. There are numerous schemes and policies that have been maintained for the development of the MSME sector; while some schemes aim to increase the flow of credit into the sector, others aim at upgrading technology, modernizing industries, and reviving sick units.
9) The local mindset:
The ability to comprehend global issues and their effect on local matters enhances one’s understanding of the land. Business and economic issues are not at issue here. Local politics in relation to the migrant crisis or the global currency crisis, for instance. Every person faces a philosophical challenge. Without one, the other cannot exist.
It is crucial for managers to display a global mentality in order to achieve a corporate global mindset. Having a corporate global mindset means considering both global and local aspects concurrently.
10) Insufficient human resources:
A large-scale industrial revolution is about to begin in India. Consequently, it is imperative to anticipate in advance the challenges likely to be faced in finding technicians, labor, and administrative staff in the required numbers and to take steps to overcome all these challenges.
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