Greenbase Expands Operations in Oragadam with ₹425 Crore Investment in Land Acquisition and Infrastructure
Greenbase Industrial & Logistics Park, a joint venture between real estate giants Hiranandani and Blackstone, is making significant strides in Oragadam, a major auto hub near Chennai, with its ambitious land acquisition project. The company is nearing the completion of a 55-acre land purchase adjacent to its existing site in Oragadam, marking an important step in its plans to expand both industrial and residential developments in the region.
The total investment for this expansion is expected to reach ₹425 crore, with ₹110 crore allocated specifically for the land acquisition. This new development adds to Greenbase’s broader strategy of building a world-class industrial infrastructure in Oragadam. N. Shridhar, CEO of Greenbase, has expressed confidence that these acquisitions will solidify the company’s growth trajectory, ensuring a strong presence in one of India’s key manufacturing and logistics hubs. This 55-acre land acquisition is just part of a larger expansion plan that also includes the Elaichur land near Oragadam, which spans approximately 90 acres and requires an investment of ₹150 crore. With this expansion, Greenbase aims to enhance its industrial capabilities and cater to the growing demand for modern manufacturing spaces.
A year ago, Greenbase committed an ₹800 crore investment towards creating new manufacturing facilities in Oragadam, part of its broader commitment to investing ₹2,000 crore into the region. The joint venture already employs approximately 2,500 workers in a mix of white-collar and blue-collar roles, with a diverse clientele that includes global companies such as Vestas Wind Technology, Jost India, and Yusen India. In addition to its industrial investments, the Hiranandani Group has been developing residential properties in Oragadam under the Hiranandani Parks brand. The township features three clusters of independent apartments, ranging from low-rise to high-rise buildings, offering a total of 1,424 residential units. These apartments are primarily aimed at employees working in the automotive, tech, and sustainable energy sectors, offering them convenient living options near their workplaces. Currently, around 85% of the units are occupied, reflecting strong demand in this burgeoning industrial area. When the residential units were launched, prices stood at ₹2,400 per square foot. However, with the growing demand and improved infrastructure, the price has now increased to ₹4,500 per square foot. This surge in price highlights the strong investment potential of the area as both industrial and residential development progress.
Niranjan Hiranandani, Chairman of Hiranandani Communities, also highlighted a new plotted development launched at ₹1,799 per square foot, which is now selling at ₹3,500 per square foot. The development, which offers 1,010 plots across three phases, has been highly successful, with 90% of the inventory already sold. This reflects the high demand for both residential and commercial properties in Oragadam, driven by its strategic location and the growth of industries in the region. Greenbase’s investments in Oragadam reflect a long-term commitment to both the industrial and residential sectors. With further expansions planned, including additional manufacturing spaces and new residential offerings, the joint venture is positioning Oragadam as a key hub for economic and infrastructure development in Tamil Nadu. Local officials have expressed their support for these initiatives, recognising the potential for job creation and economic growth that such large-scale projects bring to the region. With both industrial and residential projects flourishing, Oragadam is poised to become an even more significant player in India’s manufacturing and real estate sectors, benefiting from the continued investment and development by Greenbase and Hiranandani.
