A joint venture between a real estate developer and a US-based private equity firm is set to acquire three land parcels totaling 211 acres across Southwest and North Chennai. This acquisition will increase the company’s total land holding in Chennai to 391 acres. The company plans to invest over ?700 crore to develop these parcels into industrial parks within the current financial year.

The new parks, with a total built-up area of 7.5 million sq ft, will bring the company’s Chennai portfolio to 11 million sq ft. The company remains optimistic about India’s logistics infrastructure sector, driven by existing shortages and emerging demand influenced by geopolitical realignments, the China-plus-one policy, production-linked incentive schemes, and domestic manufacturing initiatives. The region is experiencing strong demand due to favorable macroeconomic conditions, strategic policy reforms, government initiatives, high-quality infrastructure, and the availability of Grade A assets.

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