Business parks offer benefits, including easy access to resources, improved business growth, and tax incentives. They are also attractive to investors and provide a business-friendly environment. By setting up a business in a well-chosen park, entrepreneurs can enjoy all these benefits.
Different Types of Business Parks in India
There are four main types of business parks in India- special economic zones (SEZs), industrial estates, technology parks, and integrated business cities (IBCs). Each park offers different benefits suited for different types of businesses.
Special Economic Zones (SEZs)
The Special Economic Zones (SEZs) in India are designed to promote economic activity and attract foreign investment. SEZs offer several benefits, including tax holidays, duty-free import/export of goods, and relaxed environmental regulations.
Aequs SEZ Pvt. Ltd
Aequs SEZ Pvt. Ltd., has achieved distinction among the thirteen best Special Economic Zones (SEZ)s in India. The enterprise, a subsidiary of Aequs Infra, started its activities in Belagavi in 2009 and became the first Indian-notified SEZ devoted to precision engineering and aerospace production. Since then, toy production facilities have been incorporated into its tenant base.
Industrial Estates
Industrial estates are business parks for industrial or manufacturing activities. They offer lower rents and diverse support services such as on-site security, waste disposal, and power backup. Many industrial estates also have facilities for warehousing and storage.
- Lodha Industrial and Logistics Park -Palava
Lodha Industrial and Logistics Park provide India's top-notch industrial and warehousing solutions. It is designed over an expansive 800 acres and has become India's quickest-expanding center for high-grade manufacturing and warehousing solutions. Strategically situated in the industrial core of Navi Mumbai, Taloja MIDC has ideal access by air, water, and land.
Technology Parks
Technology parks are business parks that provide infrastructure and support services specifically for technology-based businesses. These parks typically offer high-speed internet connectivity, state-of-the-art office space, and access to research laboratories and other technical resources. Technology parks also usually have several on-site amenities, such as restaurants and retail shops.
- CandorTechSpace
With 20.7 million square feet of office space, CandorTechSpace operates five IT/ITES campuses across prominent micro-markets of Gurugram, Noida, and Kolkata and is counted among the biggest it park in india. The BEE 2-star-rated IT/ITES SEZ campus in the city offers features such as a dedicated power plant, large parking area, advanced security system, sewage treatment plant, rainwater harvesting, and LED lights.
Integrated Business Cities.
Integrated business cities (IBCs) are large-scale developments combining office space, residential units, retail outlets, and other amenities into a single complex. IBCs typically have their internal transportation systems and are designed to be self-contained mini-cities. Many IBCs have special economic zones (SEZs) located within them that offer additional benefits and tax incentives for businesses.
- Mahindra Lifespace Developers Limited
Mahindra Lifespace Developers Limited is the real estate and infrastructure development enterprise belonging to the $16.5 billion Mahindra Group. Mahindra World City in Jaipur has been certified as Stage I of the Indian Green Building Council's (IGBC) Green Townships Program, making it the biggest multi-product SEZ in North India.
Factors that help entrepreneurs to thrive in Business Park.
- Availability of Quality Infrastructure.
- Access to Talent Pool.
- High-class Networking and Connectivity are available.
- Low cost of Operating.
- Easy access to resources, such as raw materials, suppliers, and other business service providers.
- Attracts investors due to different amenities and facilities.
- Eligibility for Tax Incentives that helps business to grow
Conclusion
The perfect business park in India can be found by considering several factors such as location, quality of infrastructure, access to talent, networking, connectivity, and cost of operations. The benefits of setting up a business park include easy access to resources attracting investors, providing improved business growth and a business-friendly environment.
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