Greenbase Nears Acquisition of 55 Acres in Oragadam for ₹425 Crore Expansion

Greenbase Industrial & Logistics Park, a joint venture between Hiranandani and Blackstone, is finalizing the acquisition of 55 acres of land adjacent to its existing facilities within Hiranandani Parks, Oragadam—Chennai’s bustling automotive hub. This expansion, with a total investment of approximately ₹425 crore, includes a land cost of ₹110 crore, according to Greenbase CEO N. Shridhar.

The acquisition builds on the JV’s ₹800 crore investment announced last year to develop manufacturing spaces in Oragadam. Greenbase is also incorporating the 90-acre Elaichur land into its expansion plans, requiring an additional ₹150 crore. “These acquisitions emphasize our commitment to creating top-tier infrastructure and value-driven developments,” Shridhar stated.

So far, Greenbase has attracted investments of about ₹2,000 crore and employs around 2,500 people, spanning both white- and blue-collar roles. Its portfolio boasts an impressive lineup of clients, including Vestas Wind Technology, Gurit Wind Technology, Jost India, Sanmina, and MAS Holdings, among others.

On the residential side, Hiranandani Parks complements the industrial ecosystem with three clusters of apartments featuring both low-rise and high-rise buildings. The complex has 1,424 apartments, launched at ₹2,400 per sq ft and now priced at ₹4,500 per sq ft, and boasts an impressive occupancy rate of 85%. The residents here are comprised mainly of professionals engaged in the automobile, technology, and renewable energy sectors and include both Indian citizens and expatriates from Korea, Japan, Germany, and Denmark.

“We’ve also seen strong traction in our plotted developments,” said Niranjan Hiranandani, Chairman of Hiranandani Communities. The plotted segments, launched at ₹1,799 per sq ft, now sell at ₹3,500 per sq ft. Of the 1,010 plots launched across three phases, 90% have been sold.

Greenbase’s strategic growth in Oragadam reinforces its vision of building integrated industrial hubs and residential spaces to meet the region’s increasing demand for world-class infrastructure.