SIPCOT and Industrial Growth in Chennai

SIPCOT

Industrialization plays a major role in the economic development, and when SIPCOT came into existence in 1971 it proved this notion right. Tamil Nadu, well-known for its rich cultural and traditional heritage started out as an industrially viable state and thanks to SIPCOT it was able to develop and maintain industries with growth potential, across the state.

Right from establishing industrial complexes, parks and growth centers, at the backward regions of the state, SIPCOT has also set up six, sector specific Special Economic Zones (SEZs) that have immensely contributed to the economic development and help bring balance in foreign earnings. Apart from this SIPCOT has also helped establish and develop 20 industrial complexes in 12 districts across Tamil Nadu.

Tapping the potential IT and ITES industries, SIPCOT set up the Sriperumbudur Industrial Park in Kanchipuram district, a Hi-tech SEZ that hosts industries for Electronic, Telecom, Hardware and Software services. While taking advantage of the booming IT scenario, SIPCOT Industrial Park at Irungattukottai Sriperumbudur Taluk has also set up footwear SEZ in Kanchipuram district.

As a nodal agency of the Government of Tamil Nadu, SIPCOT instead of accelerating growth in already developed and densely populated areas, strives to ensure industrial growth and disbursement of financial aid towards suburbs and under developed areas of the state, thus ensuring an overall industrial growth plan. This has paved way to not only quantitative but qualitative industrial development in Tamil Nadu.

Any development creates a ripple effect across everything related to it and the same principal has worked wonders, wherever SIPCOT set up its industrial parks and SEZs. Sriperumbudur and its neighboring suburbs have seen a tremendous increase in population with increased job opportunities and potential development. This in turn has turned these otherwise quaint Chennai suburbs into a commercial zone making them a real-estate hot spot.

Valarpuram is a fast growing suburb located close to Sriperumbudur. With great location advantage, combined with the peaceful settlement away from the hustle, bustle and pollution of a populated city life has made it a popular choice for settling down. Residential complexes have spurted up thanks to the increasing migrant population and the demand for residences.

Shriram OneCity, the prestigious project of Shriram Properties, has redefined the modern urban living. This gated community is a standing example of quality living combined with the advantage of value appreciation. Targeting the population working in these industrial complexes, OneCity is one advantageous investment that saves time with convenient location and money with rightly budgeted residences.

Proving advantageous both ways, new buyers stand to gain with value appreciating property combined with quality living and situated in close vicinity to their work place and second-time investors get the best ROI adding to the economically feasible rental income.

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by Balaji R via Shriram Properties