Comments
G Square, a real estate developer, has launched a 400-acre industrial park — G Square Industrial Estate — at Arakkonam, about 80 km West of Chennai.
The Chennai-headquartered company seeks to sell industrial plots in the range of 20-100 acres to industrial units and it said G Square Industrial Estate will be an affordable industrial park as the price of the land will be half (about ₹1.5 crore per acre) the price when compared with a price of ₹3 crore per acre in locations such as GST road or Sriperumbudur. The park is expected to attract investments of ₹500-600 crore.
“While the industrial park has several geographical and other advantages, the key differentiator is that it will be a freehold property as industries can own the land parcels. With G Square Industrial Estate at Arakkonam, the company intends to solve the challenge of readymade industrial lands being available,” said Eshwar N, Chief Executive Officer, G Square Realtors Pvt Ltd.
The industrial park is expected to attract industries such as logistics, steel, cement, battery industries, and a few others as railway sliding tracks come close to the site. “This will be beneficial to industries where logistics is a key part,” he said.
Other amenities include power stations — 220KVA and 110KVA substations, adequate water sources, telecom connection from all major service providers with proximity to established industries as also a dedicated helipad in the park, which is just two hours from Ennore Port.
Eshwar said the company has delivered about 1000 acres of industrial lands to companies like CEAT, JK Tyres, ELGI, Murugappa and Ascendas among others and is now venturing into developing industrial parks. G Square is now planning to expand into Chennai, Tiruchi and Coimbatore and provide affordable industrial spaces targeting multiple industries.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.