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Developing unutilised government land into wholesale trade parks in public private partnership mode will foster economic development, according to a report.
The report ‘A case for development of wholesale trade parks’ prepared by the Confederation of Indian Industry (CII) in partnership with KPMG, was launched at the conference on ‘Next Gen Infrastructure in Chennai – A City Connect Initiative’ in Chennai on Thursday.
As we move towards urban transformation there is a need for new schemes that will preserve the culture and heritage while enabling economic and social development. For instance commercial hubs like Sowcarpet that is close to port are congested and cost of developing the area is quite high.
Instead redeveloping unutilised land banks belonging to government agencies around the area into a trading community could result in holistic development of the area.
For, these trade parks will generate significant employment in terms of shop floor labour, allied businesses like aggregators of commodities, warehousing, transport and shipping.
To promote trade parks, the report said the government should provide incentives to developers like waiver of stamp duty and registration charges, reduced or limited escalation tariff for electricity and water at bulk supply rates. In place of waivers and exemptions provided, the government could get a percentage as revenue from the businesses housed in trade parks, the report added.
Way forward
Speaking at the conference, S Krishnan, Principal Secretary, Housing and Urban Development Department, Government of Tamil Nadu, said that promoting mixed use of land, where people live, work and play in the same neighbourhood, is one of the ways to take the initiative forward. Land pooling is another mechanism that will promote efficient, sustainable and equitable land development.
Krishnan said the State has undertaken major development projects. The State will partner with developers to build houses in Manali (North Chennai) for mid-segment, with monthly income between ₹15,000 and ₹50,000, focussing on rentals.
The transport department is working with the German agency Kfw on the Bus Rapid Transit System.
“A detailed project report is being prepared and six routes are planned for now,” he added.
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