India is gearing up for a commercial reformation as we are stepping towards a new-age industrial landscape. The comprehensive industrial parks integrate suitable infrastructure and warehousing spaces to keep up with global standards.
The leasing strata has overhauled sales, as small-medium scale enterprises and start-ups opt for rental properties. While the logistics sector is booming, warehousing and fulfillment services are also gaining traction.
However, selecting from an array of Industrial warehousing services is a critical decision that directly affects your business. Hence, we have curated a list to guide you in leasing the apt warehouse.
There are two aspects to keep in mind before planning your business–
- The number one rule of business is to establish where the actual market is, amidst your competition.
- The true testament of any business is efficacy in delivering services.
Hence, it’s imperative to determine the location first, which can facilitate these two factors.
According to Collier’s Report, the top six cities in India leading the industrial expansion are Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Chennai, and Hyderabad. Warehousing services Chennai is gaining traction due to its cost-effectiveness and the vast landscape for industrial setup.
Top warehouse logistics companies are offering variable configurations in warehouses. The goal here is to enable businesses to scale without hindering the production process. For business expansion, it is better to lease customisable warehouses that adapt to your business needs.
The next crucial aspect is your financial budget. Before renting a space, evaluate your finances, operational costs, the monthly margin of profits, other debts, and EMIs.
A record of your expenses will give you a clear estimation of the budget for the warehouse.
Warehouse leasing companies often offer two major options–
- Gross leasing system: a fixed payment to the company, where they will pay for other taxes, insurance, and maintenance costs.
- Net leasing system: tenants have to pay monthly rent along with taxes & ancillary expenses.
A progressive infrastructure plays a key role in streamlining your operations. Here are a few parameters to inspect–
- Docking facility
A dedicated outlet that allows smooth transitioning from carrier to warehouse and vice versa, minimising risks of damages to products.
2. Security system
Since logistics and heavy loading are subjected to hazards, check whether the premises are secured for these operations. CCTV surveillance, boom barriers, and other such precautionary measures are essential.
3. Convenience for huge carriers
Another important factor is the width of the pathways inside the premises. It helps in the easy manoeuvring of heavy carriers.
Skilled labour, technical expertise, and professional conduct are the three important pillars of reliable human resources. Make a thorough enquiry about the employees before subscribing to the leasing contract.
Apart from this, other resources such as advanced technology, WMS software, Automated tools and many more will help in expeditious functioning.
Warehouse rental spaces in Chennai can be at risk of flooding. It is important to inspect proper aversion methods implemented in the project.
Hiranandani Industrial Parks have incorporated the following measures against risksto optimise the utilisation–
Robust stormwater drainage system to withstand maximum rainfall
Semi-paved areas provided for water percolation
Roof slopes designed for quick water drainage
Compliance with statutory pollution control norms
Optimization of rainwater via recharge pits
A continuous power supply is the lifeline of any operation. Ensure that the locality and the industrial park have a steady electric supply.
Tip: The best way to determine this is to enquire around in the locality. It will give you a genuine picture of that area.
Now that we have inspected the physical aspects, here are a few documents that you need to verify from the leasing company–
- Local civic body approval for land & warehouses
- Fire NOC
- Pollution NOC
These are mandatory for any warehouse for rent in Chennai; hence it is advised to keep a record for future inspections.
Terms and conditions
Every leasing contract differs according to the nature of the business and the industry it belongs to. Before signing the contract, one must inspect every clause. Make room for negotiation. Put forth your conditions as well, it is supposed to be a mutual contract. Here is the general info included in the contract–
- refundable security advances
- term of the lease
- lock-in period
- notice period
Commercial real estate agents/ legal counsellors
If you are unsure about the contract, it is better to hire legal counsellors who can map out a proper contract for you. They can also help in case of any legal disputes, untimely dismissal, or breach of contract.
Warehousing in Chennai is considered one of the most lucrative investments. This is definitely a favorable time to acquire a space for your business. Just keep in mind that a warehouse is the backbone of any business, refer to this checklist before leasing one.
Or a more worry-free option is the wholesome project of Hiranandani Industrial Parks— a viable resource for your business, endorsed by the reigning legacy of the House of Hiranandani.