Hiranandani’s Greenbase to develop industrial, logistics parks on 391 acres in Chennai

Greenbase Industrial and Logistics Parks, a collaboration between Hiranandani Group and Blackstone Group, planned to acquire 211 acres in Chennai, enhancing their total land holding to 391 acres. They intended to invest Rs 700 crore to develop industrial parks on these parcels, boosting their Chennai portfolio to 11 million sq ft. The company aimed to deliver 20 million sq ft over five years across various markets. The expansion would generate around 1,000 new jobs, further promoting the local economy. The growing demand and favorable policies contributed to this development.