Thinking of building a new industrial township? If yes, then you’re in the right place. An industrial township is an organized planned community that is primarily set up for industries with a concentration of commercial and residential properties. These townships provide companies with all the amenities needed to set up their business, such as factory space, office space, warehouses, retail shops and more. It also provides several services like banks, schools, entertainment facilities and hospitals. A successful industrial township requires careful planning from the very beginning to avoid any roadblocks later on. This blog post will give you a general idea about how you can go about creating your industrial town.
Understand Your Market and Build the Right Team
A successful industrial township depends on many factors, most importantly its team. You need to have a team that has the right mix of skills, to get the project off the ground successfully. It is ideal if you have a team that has experience in setting up industrial townships, and at least one person who has done the same project in a different location. This will help you understand any challenges at the project level, and build the team appropriately. You also need to understand your market and the challenges they might face. What will be the major source of demand for real estate in your industrial township? How much supply do you have in that particular segment? How will the demand and supply gap be filled?
Identify the types of industries you’d like to host
The first step towards creating your ideal industrial township is to identify the types of industries you’d like to host in your township. This will help you understand the growth potential of your township and help you decide the mix of commercial properties that you’d like to have. You can host a wide range of industries in your industrial town, including food and beverage, pharma and chemical, automobile, manufacturing and several other industries. You will have to consider factors like the growth potential of the industries, the labor availability, their skill set and more.
Determine where to locate your Industrial Township
Before you get down to building your township, it is important to understand the suitability of the location you’ve chosen for it. A suitable location will reduce the cost of setting up the township and make it easier for industries to set up their operations. A suitable location will also help you attract businesses and investors. You will have to consider factors like the proximity to main transport routes, availability of power supply, availability of water, cost of land and more. A location that is proximate to a major city will help you leverage the benefits of being in a metropolitan city. A location that is proximate to a major highway will also help you get your project off the ground quickly.
Decide on the size and type of development you’d like to have
Once you’ve decided on the type of industry you’d like to host in your township, and their respective mix, it is important to decide the size and type of development you’d like to have. Industrial townships can be built on many different scales, from a single factory to an entire town with residential, commercial and industrial properties. It is important to understand what size and type of development you’d like to have so that you can get the land ready for development. This will help you get into an industrial township faster. You will also understand what kind of timelines you’ll be working against, and it will help you get the right contractors for the job.
Sort out Infrastructure and Road Development Issues
Once you’ve decided on a location for your industrial township, the next step is to sort out all the necessary infrastructure. You’ll have to decide on the utilities you’ll provide to the people who set up shop in your township. You’ll also have to decide on the roads that will connect the various parts of your township. You’;ll also have to decide on the location of the schools and hospitals. You’ll also have to decide on the locations of the shopping malls and recreational areas like the parks. All these decisions will help you get ready to welcome businesses to your township. You can also use these decisions to help you decide the price at which you’d like to sell the land.
Decide on the commercial properties you’d like to have in your Townships
The commercial properties you decide to have within your industrial township will help you attract businesses and also help in setting a price for your real estate. While deciding on commercial properties, ensure that they are aligned with the industries you want to attract. For example, if your main industry is automobile manufacturing, then you can have a showroom for different automobile brands in your township. You can also establish a parts shop, an after-sales service center, and more within your township. Additionally, you could develop an IT park hosting various company offices or a research and development center. A shopping mall featuring retail stores, a multiplex, and other commercial properties is another great option.
Conclusion
An industrial township is a planned community built for industries. It provides businesses with all the amenities needed to set up their operations, such as factory space, office space, warehouses, retail shops and more. Industrial townships also provide several services like banks, schools, entertainment facilities and hospitals. A successful industrial township requires careful planning from the very beginning to avoid any roadblocks later on. We hope you now have a general idea about how you can go about creating your industrial town.
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Niir Project Consultancy Services (NPCS) is a leading project management and consulting firm in India. The company offers a wide range of services, including project management, feasibility studies, market research, financial analysis, and more. NPCS has a team of experienced professionals who have worked on a variety of projects in different sectors.
The Setup Industrial Township project report by NPCS provides a comprehensive analysis of the proposed industrial township, including its economic feasibility and potential impact on the surrounding region. The report assesses the market potential for the project, as well as the infrastructure and regulatory requirements necessary for its successful implementation. It also provides an analysis of the financial viability of the project, including a detailed financial model and sensitivity analysis. The report is an essential tool for any investor or developer considering the establishment of an industrial township.
