INDIA —Greenbase, a joint venture between real estate developer Hiranandani Group and private equity firm Blackstone, specializes in developing industrial parks and Grade A warehousing facilities across major manufacturing clusters in India. The enterprise currently operates around five million square feet of space, with existing footprints in Maharashtra and Tamil Nadu.
The company has secured 215 acres of land near Chennai, comprising 160 acres at Palur near the Oragadam industrial hub and 55 acres at Arani near Gummudipoondi. Funded via a combination of equity and debt, the INR 20 billion commitment will deliver five million square feet of logistics infrastructure over the next two years. This deployment forms part of a broader INR 35 billion investment program aimed at establishing up to ten million square feet of Grade A facilities nationwide over a three-to-five-year horizon, with Tamil Nadu targeted to host over half of the expansion.
This development underscores the escalating demand for high-spec warehousing driven by advanced manufacturing investments in Southern India. Regions like Tamil Nadu are emerging as critical hubs for electric vehicles, battery energy storage systems, defense production, and electronics. Strategically positioning facilities near government-supported electronic manufacturing clusters ensures that logistics infrastructure scales alongside industrial production capacity.
For institutional investors and logistics operators, the project highlights the ongoing transition toward institutional-grade infrastructure to serve multinational tenants seeking accelerated operational readiness. Expanding into secondary manufacturing nodes like Coimbatore, Hosur, and Tuticorin further indicates that modern supply chain network requirements are broadening beyond primary metropolitan markets into high-growth regional industrial centers.
