Chennai: Diversified real estate company, Sumadhura Group, will invest Rs 400 crore in setting up an industrial & logistics park on the outskirts of the city. Spread over in an area of 52 acres, the project will offer 1.2 million sq ft of warehousing space at Redhills in north Chennai. This marks the real estate developer’s maiden entry into the city after residential, and commercial real estate projects in Hyderabad and Bengaluru.“We will be investing about Rs 4,000 crore for our projects across these markets over the next 18 months,” its chairman & managing director Madhusudhan G told TOI. “We entered the city with an industrial & logistics park since we did not want to miss the industrial development and warehousing opportunities offered by the Chennai Peripheral Ring Road (CPRR) and three ports in the city. However, we will be exploring opportunities in residential and commercial real estate in Chennai, as well. It depends on the availability of land parcels,” he added.The upcoming park will be developed in line with its grade A logistics park at Hoskote in Bengaluru, which has been leased to companies including Amazon, Zepto, and Zomato.Vamshi Karangula, director – industrial & logistics, Sumadhura Group said, the new facility is likely to be fully operational by June, 2028. “The upcoming park (in Chennai) is receiving interests from manufacturers such as wind blades, and auto OEMs, and third-party logistics players (3PL). There is also a scope for Q-comm and E-comm firms as well,” he added.
