In the always-changing world of industrial real estate, location is the first thing among the most important things to consider. Besides geographical coordinates, the industrial hub’s performance greatly depends on how it is networked to the largest transport systems. Chandigarh Tricity (Chandigarh-Mohali-Panchkula) has become the foremost site of recent developments as it demonstrates how proper infrastructure implementation can stimulate growth in industrial real estate area.
Located in the northern part of India the tri-city of Chandigarh, which is a union territory along with three states Himachal Pradesh, Punjab, and Haryana, play a crucial role in acting as a bottleneck for all three states. This strategic position has led the region to be a central point of traffic systems, both for existing and future economy. The aerial, rail and road connectivity have had a critical impact on the evolution of the tram civic real estate.
Begin with the road network. The tri-city is well connected by a series of national highways, such as the NH-7, NH-22 & NH-44, that allow to access rich national centers like Delhi, Ambala, and Ludhiana easily. The under construction Expressway which is going to connect Delhi and Amritsar is also definitely going to enrich the area’s accessibility, and will therefore significantly reduce the travel times and will enable smooth movement of goods and services.
The network of the railroad is equally spectacular. The tri-city has numerous stations, some of which include the Chandigarh Railway Station, which is a prominent station offering vital hub for both passenger and freight transport. Besides that, the Dedicated Freight Corridor (DFC) will establish a high-speed, dedicated rail link between the tri-city and many industrial and other commercial zones across the country. The transition to the tri-city waterside will help to dramatically lower logistics expenses and transport time, making an area of more interest for businesses using relationship-sensitive supply chain management.
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However, it is not just the roads and rail that have brought about industrial real estate boom in tri-city, other factors are also involved. The region additionally comprises of Chandigarh International Airport which provides direct connectivity to many of the metropolitan cities of India as well as overseas regions. This air connectivity has proved to be an indispensable platform of ‘just-in-time’ delivery of goods and ‘time sensitive’ cargo, for those industries which rely on them.
There are parts of the city that have the best advantage of the wide road network in tri-city. This is the section around Zirakpur & Derabassi. Adjoining areas of Tricity Zirakpur & Derabassi have seen a rapid increase in industrial plots. Companies in multiple businesses such as logistics, pharma and manufacturing have come to the conclusion that it is very beneficial for them to be part of the fast-growing industrial area.
The outlook of the industrial real estate sector in the tri-city is certainly rosier than any other time before as it can be seen on the path of continued infrastructure development. Infrastructure programs which are set to take place this year like Delhi-Amritsar Expressway and Dedicated Freight Corridor will improve connectivity in the region, making it more attractive to businesses in pursuit of setting up or expanding their operations.
In a nutshell, tri-city’s strategic location and robust line networks have been the main factors that enabled the identification of its industrial real estate. The tri-city offers a non-stop movement of goods through its land transport, railways, and airways, and it is also a beneficiary of ongoing infrastructure development projects, and thus it is well-positioned to become a leading industrial zone, drawing both domestic and foreign investment.
(By LC Mittal, Director, Motia Group. Views are personal)