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Greenbase Industrial & Logistics Park, a joint venture between Hiranandani and Blackstone, is nearing the completion of acquiring 55 acres of land adjacent to its existing site in Oragadam, an auto hub near Chennai. The total investment for the project is expected to be ₹425 crore, with ₹110 crore earmarked for land acquisition, according to N. Shridhar, CEO of Greenbase.
The acquisition forms part of the joint venture's broader expansion plans, which also include the Elaichur land near Oragadam. Spanning approximately 90 acres, this land will involve an investment of ₹150 crore. Shridhar emphasized that these acquisitions bolster the company’s growth strategy and solidify its commitment to developing world-class infrastructure.
A year ago, the joint venture had announced a fresh investment of ₹800 crore for creating manufacturing spaces in Oragadam. To date, Greenbase has invested approximately ₹2,000 crore into its operations, employing nearly 2,500 workers across white-collar and blue-collar roles. Its clientele includes companies such as Vestas Wind Technology, Gurit Wind Technology, Jost India, Sanmina, Micronics, Hydraspecma, OBO Bettermann, MAS Holdings Pvt Ltd, Cooper Turner Beck, TD Connex, Cooper Wind, Yusen India, and Hellermann Tyton.
On the residential front, Hiranandani Parks in Oragadam has developed three independent clusters of apartments—both low-rise and high-rise buildings. The township comprises 1,424 residential units, with current occupancy standing at around 85%. These apartments cater primarily to employees in sectors like automotive, tech, and sustainable energy. The project, originally launched at ₹2,400 per square foot, is now selling at ₹4,500 per square foot.
Niranjan Hiranandani, Chairman of Hiranandani Communities, also mentioned that the company has launched a plotted development at ₹1,799 per square foot, with current prices at ₹3,500 per square foot. A total of 1,010 plots have been launched across three phases, with 90% of the inventory already sold.
HBL
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