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Exploring the Opportunities of Industrial Parks in West Bengal.

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What Can Industrial Parks in West Bengal Offer?

Businesses in the current times are aggressively acquiring well-connected warehouse spaces around Kolkata, recognizing the imminent future of increased demand. The requirement for industrial parks is rising simultaneously, primarily focusing on infrastructural improvement with minimal operational costs.

Within the next 3 years, developers anticipate building approximately 3 million sq ft of space. Additionally, projections indicate that over 80% of West Bengal’s logistics supply will be either in Kolkata or around the city.

The Rising Demand for Warehousing Spaces in West Bengal

The Telegraph India stated in a report that Kolkata secured fifth position for having the highest demand for warehousing and industrial space. The growth in the e-commerce market can be one of the significant contributions. It undoubtedly demands warehouses to store products and items in huge quantities. This has led companies to establish warehouse and logistics hubs in and around Kolkata for better accessibility. To further expand that scope, Magna Star Industrial Park at Singur has come up with its upcoming project for warehousing, logistics, and MSMEs.

Possibilities with Magna Star Industrial Park

The Manafuli Group sees business parks as presenting a plethora of opportunities and potentials. It can redefine the landscape of West Bengal’s real estate market. Let’s take a peek into the essential possibilities of the industrial parks in West Bengal and what businesses may expect to discover there.

1. Strategic location and connectivity

Industrial parks benefit immensely from their strategic locations, ensuring seamless connectivity to major transportation hubs. Proximity to ports, airports, and well-developed road and rail networks makes these industrial parks attractive for businesses looking to establish a strong logistical base.

Magna Star Industrial Park, for example, is an ongoing Manafuli project. It is located on NH 2 Durgapur expressway, the logistic and industrial corridor of Eastern India. It is just about 3km away from Singur railway station and 14km from Dankuni toll plaza. Transportation of goods is made easier and more reliable with a major route 60 feet wide, which also guarantees smooth traffic flow.

2. Government assistance

The Indian government’s ‘Make in India’ initiative, along with the state’s tax benefits, subsidies, and streamlined approval processes, is boosting industrial real estate demand in West Bengal. These incentives are attracting both industrial and commercial properties significantly.

3. Green initiatives

Industrial parks of West Bengal are embracing sustainable development, such as Magna Star Industrial Park’s rainwater drainage system and common ETP initiatives. Real estate developments that adhere to these guidelines will have an advantage over their competitors in luring eco-aware businesses.

4. Infrastructural development

Industrial parks stimulate infrastructure development and economic growth. It needs to be developed at the same time as industries grow. In the case of the Magna Star project, businesses may locate the internal 40-foot-wide road with street lights all along it. Furthermore, with WBSEDCL sub-stations present, every plot will have access to electric connections.

5. Tailored business hubs

These thoughtfully designed, integrated areas provide cutting-edge amenities. The large amount of space is ideal for production, distribution, and storage facilitating easy transportation. Businesses particularly trying to maximize their supply chains, these industrial spaces act as hubs.

6. Paperwork assistance and networking opportunities

This upcoming project of Magna Star will provide various types of government clearance and paperwork support. This includes land mutation, land conversion, land filling, trade license, pollution NOC, fire NOC, etc. This single-window assistance can further present networking possibilities enabling businesses to collaborate with other projects and build alliances.

7. Additional amenities

  • Security measures: The gated community is to have a 24-hour security system and a boundary wall that is 8 feet high.
  • Social and logistical advantage: The ample availability of space comprises of guest room, fire station, doctor’s chamber, and weighbridge.

End Thoughts

Exploring the potential of industrial parks from a real estate perspective unveils a realm of opportunities for investors and businesses. From strategic locations and cutting-edge infrastructure to sustainable practices, industrial parks are designed to be catalysts for success. As the real estate landscape evolves, understanding what to expect in a business park becomes instrumental in making informed decisions that pave the way for future growth and prosperity.