Banur -Tepla road on way to become Punjab’s 'economic power house', giving a boost to region’s economy
A not very known industrial stretch a few years back the Banur-Tepla road is now a hub of warehousing facilities with over 40 warehousing and logistics entities based here and over a dozen under construction.
Chandigarh, January 16, 2022: Only 8 minutes drive from Aerocity and strategically located on NH 205A, the Banur – Tepla road is all set to give a fillip to business growth & the economy with leading real estate groups of the region planning to set up Industrial Parks on the stretch.
A not very known industrial stretch a few years back the Banur-Tepla road is now a hub of warehousing facilities with over 40 warehousing and logistics entities based here and over a dozen under construction. Not only warehousing, the 'Industrial spot' located on the Banur-Tepla road has become a hot economic hub.
Neeraj Kansal, Managing Director, Royale Estate Group(REG), emphasized on the need of offering a 360 degree solution for all industrial needs of the region. He said a vision document is being created by the Royale Estate Group with many industry stalwarts involved in the planning. A plan based on the integrated development principle – live, work and play to have the best-in-class infrastructure is the need of the hour and is being shaped up for all industries looking to set up businesses on the Banur-Tepla road.
The region has a strategic location from the supply chain and logistics perspective with prominent catchment areas in and around Punjab which has the Baddi- Barotiwala- Nalagarh industrial belt, and Ludhiana which is a key industrial hub. In addition to proximity to the dry port at Shambhu bordering Punjab and Haryana, and connectivity to Amritsar-Kolkata Industrial Corridor (AKIC) with the Airport cargo road from Mohali International Airport to be contacted here in future, the area is all set to give a major boost to industrial development, investment ecosystem and economy of the region.
Ashish Mittal, Director, Royale Estate group adds that all these key features make the Banur - Tepla stretch a preferred choice for many industry verticals and all kinds of industries – Red Zone, white, orange, green, ranging from textiles, chemicals, pharmaceuticals, tools and precision, assembling units, printing press, building material, warehousing solutions, cold storages, engineering and fabrication units, electrical and electronic items, food and food processing, ceramics and refractories, distillery, pesticides and many more.
The state government too has designed a policy around eight core strategic pillars for sustainable industrial growth of Punjab. These are infrastructure, power, MSMEs, ease of doing business, start-up and entrepreneurship, skills, fiscal and non-fiscal incentives and in sync with the vision of 'Invest Punjab' all industries being set up in the area will have the advantage of 100 per cent exemption of stamp duty, 100 per cent exemption of electricity duty for seven years, 100 per cent exemption from property tax and an investment subsidy too.
Further, the Industry units will be entitled for collateral free bank loans, one percent interest exemption on overdraft, 50 per cent discount on government fee on trademarks, credit linked capital subsidy scheme for technical up-gradation and many other benefits.
Piyush Kansal another real estate expert who also is a young director in the Royale Estate Group shared that plans are underway to support industries by building effluent treatment plants (ETPs), a skill development centre, a R & D centre, tool and equipment room, wide concrete roads, all civic amenities to ensure that the Banur –Tepla stretch becomes a unique investment and employment hub for the region catering to the Industrial needs across verticals.
It is noteworthy to mention that established in 1995, Royal Estate Group has developed projects on 100 per cent registered land. As many as 21 projects have already been delivered around Chandigarh. It is credited with developing the first Group Housing concept in Punjab. A zero debt company, proactively providing infrastructure and environment for partners to enhance their productivity and profitability. Royale Estate Group has good plans and strongly supports the development on the NH 205A, the Banur – Tepla road as a futuristic vision of making Punjab a sound economic hub with extensive benefits through its upcoming projects.