Greenbase Industrial and Logistics Parks, a collaboration between the Hiranandani Communities and Blackstone Group, has announced plans to acquire 211 acres of land in Chennai, expanding its total land holdings in the region to an impressive 391 acres. This strategic move underscores the group's commitment to scaling its operations in Hiranandani Chennai, one of the most promising industrial and logistics hubs in India.
The company plans to invest ₹700 crore to transform these newly acquired parcels into cutting-edge industrial parks, which will add 7.5 million sq. ft. of premium logistics and industrial space to its portfolio. This expansion will bring Greenbase’s total footprint in Chennai to 11 million sq. ft., with an ambitious target to deliver 20 million sq. ft. of industrial spaces across India in the next five years.
“We are in advanced stages of acquiring these land parcels, and the deals are expected to close soon,” said N. Shridhar, CEO of Greenbase Industrial and Logistics Parks.
The new acquisitions include strategically located parcels in South West Chennai’s Oragadam area and North Chennai. Two of these parcels are close to Greenbase’s existing industrial park in Oragadam, which spans 135 acres and generates annual rental revenue of ₹150–200 crore.
Having already delivered 3.5 million sq. ft. of built-to-suit space in Oragadam, Greenbase has catered to a diverse clientele, including sectors like e-commerce, electronics, renewable energy, automotive, and manufacturing. This development highlights the expertise of Hiranandani Communities in creating world-class industrial ecosystems.
Boosting Chennai’s Industrial Landscape
Chennai accounts for 40% of Greenbase’s growth portfolio, thanks to its skilled workforce, business-friendly environment, and favorable industrial policies. The planned expansion is expected to create around 1,000 new jobs, spanning both direct and indirect opportunities, further boosting the local economy.
Hiranandani Parks, a flagship project by the Hiranandani Communities in Oragadam, has also played a pivotal role in positioning the area as a key destination for residential, commercial, and industrial growth. Oragadam’s strategic location, robust infrastructure, and proximity to ports and airports make it an ideal hub for businesses across diverse sectors.
Supporting India’s Logistics Revolution
Greenbase’s expansion is fueled by rising demand for Grade A industrial assets, driven by initiatives like the Make in India programme, the production-linked incentive (PLI) scheme, and the China-plus-one strategy. The company is optimistic about India’s logistics sector, with Chennai playing a central role in this growth story.
This expansion reflects Hiranandani Chennai’s rising prominence in India’s industrial and logistics landscape, aligning with the Hiranandani Communities’s vision of sustainable and inclusive growth.
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