Global investment firm Blackstone has committed ₹700 crore to support the development of Casagrand’s new industrial and warehousing project near Sriperumbudur in Chennai. The partnership aims to create a large-scale Grade-A logistics hub designed to meet the rising demand for modern warehousing and industrial facilities in South India.
The upcoming development will be spread across 4.2 million sq ft and will cater to key sectors such as e-commerce, third-party logistics (3PL), automotive, and manufacturing. The total gross development value (GDV) of the project is estimated to reach ₹1,500 crore upon completion. This marks one of the significant industrial real estate investments in the region in recent times, highlighting Chennai’s growing prominence as a logistics destination.
Construction of the project is expected to begin soon, with a planned completion and operational timeline of approximately 30 months. Casagrand has already secured a pre-lease agreement with a domestic automotive manufacturer for a portion of the upcoming space, signalling strong early demand.
The partnership brings together Blackstone’s global infrastructure expertise and Casagrand’s local market understanding. Both companies stated that this collaboration will help create high-quality industrial assets that meet international standards. Casagrand, which has already delivered 6 million sq ft of industrial space and has 15 million sq ft under development, sees this project as a major step forward in expanding its presence in the industrial and logistics sector.
The investment comes at a time when India’s logistics and warehousing market continues to grow, driven by increased consumption, expansion of manufacturing, and the rise of e-commerce. Sriperumbudur, in particular, has emerged as a preferred hub due to its connectivity, industrial ecosystem, and proximity to Chennai city and the port.
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