Greenbase Industrial & Logistics Parks, a joint venture between the Blackstone Group and India’s Hiranandani Group, has announced a significant expansion in Chennai. The company has acquired a 211-acre land parcel in Oragadam, southwest Chennai, and North Chennai, marking a strategic investment of Rs 700 crore. This acquisition complements the company’s existing 180-acre portfolio in the region and is part of a broader Rs 1500 crore investment plan to develop a total of 391 acres.
The project is expected to be completed within the current financial year and will generate around 1000 jobs, both directly and indirectly. Greenbase’s previous success in Oragadam, with the delivery of 3 million square feet of built-to-suit space, has solidified the region’s position as a prime location for industrial and logistics operations. Oragadam’s appeal lies in its robust infrastructure, proximity to key transportation links, and its growing prominence in sectors such as auto-ancillary, IT & ITeS, and manufacturing. The region’s strategic location, coupled with favorable macroeconomic conditions and supportive government policies, has made it a thriving trade center in the continent.
The new acquisition reflects Greenbase’s commitment to expanding its footprint in Chennai. The company’s presence in the region now accounts for 40 percent of its overall growth portfolio, highlighting the attractiveness of Chennai for multinational companies and high-quality asset development. Greenbase’s ambitious growth plans extend beyond Chennai. The company aims to deliver nearly 20 million square feet of space over the next five years across major markets including Mumbai Metropolitan Region, Pune, Bengaluru, Kolkata, and Nashik. This expansion strategy underscores Greenbase’s confidence in the Indian industrial real estate market and its ability to capitalize on emerging opportunities.
The acquisition of the 211-acre land parcel in Chennai is a testament to Greenbase’s strategic vision and commitment to growth. The company’s strong presence in the region, coupled with its track record of successful projects, positions it as a leading player in the Indian industrial real estate market. As Greenbase continues to expand its operations, it is poised to contribute significantly to the economic development of Chennai and other regions across India.
