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Land acquisition has been inveterated as one of the biggest challenges in warehousing sector, along with the rising cost of construction which has affected the feasibility of projects.
Getting clearance on legal compliances is a huge challenge, given the cost and time period involved and lack of single window clearances. The costing compared to the saleability of the product is a big challenge too. It works upto almost 10% to 15 % of the entire project.
Construction financing by banks is also quite inconspicuous. Logistics being the heart of any industrial development of a nation, financial institutions should be more forthcoming to fund such projects.
Technical advancements are the need of the hour which will ensure the warehouses grow vertically, reducing cost of operations for the end user and making the project overall feasible for the developer/client / lessee. Projects need to be planned right, from the initiation stage with corporate governance which will attract financial institutions to invest in this industry.
The pandemic has taught some very valuable lessons like given the basic resources, one can work from home or anywhere. Technology will be the ruling factor with E-commerce & online transactions becoming the norm. Health, being with the family, being humble and prepared for unknown circumstances are some personal lessons learned.
