In addition to the flourishing automobile manufacturing industry, Chennai is also becoming a hub for warehousing and logistics parks, with about Rs.10,000 Cr worth of such projects in progress, benefiting from a surge in manufacturing activity and the shift in production from China by global firms. Greenbase Industrial and Logistics Parks has recently announced a Rs 1,500-crore investment in land acquisition and development of plug-n-play industrial spaces in the southwest and northern parts of Chennai.
Among the latest businesses adding capacity in the city are Greenbase, Singapore-based CapitaLand, Welspun One, and Ample Parks—a joint venture between Mahindra Lifespace Developers and private equity firm Actis. These companies have committed thousands of crores to develop industrial warehouses in recent times.
Niranjan Hiranandani, Chairman of Greenbase Industrial and Logistics Parks, attributes the growth in warehousing and logistics space in Chennai to a combination of factors. He highlights favorable government policies and ease-of-doing-business initiatives, including quick approvals, tax benefits, and fiscal incentives, as key drivers.
