Bang On Chennai: G-Square Launches 400 Acre Industrial Park In Arakkonam
Chennai, Apr 27 : G Square, Tamil Nadu’s No.1 real estate developer, today announced its foray into developing industrial parks with the first launch of G Square Industrial Estate at Arakkonam. It is an affordable industrial park bang on Chennai-Arakkonam Highway. With this new venture G Square is planning to expand into Chennai, Trichy and Coimbatore and provide affordable industrial spaces, G Square CEO Eshwar.N told reporters here today. Located at one of Tamil Nadu’s prime industrial hubs at Arakkonam, this project will provide industries to set up their facilities in a location that has access to amenities like the Railway siding track, Power stations- 220KVA and 110KVA substations, excellent water, telecom connection from all major service providers with close proximity to established industries and a dedicated helipad in the park. G Square Industrial Estate provides single land parcels in a 400 acres expanse that can be tailor-made for industry-specific needs which makes it suitable for setting up logistics, steel, cement, battery industries and others.
“Free holding industrial plots ranging from 20 to 100 acres will be given to those wishing to set up their industry. The cost is Rs 1.5 crore per acre. It is a gold mine for industry for all sizes as it the only affordable industrial park close to Chennai”, he said. Stating that the land was acquired in one go, he said the park is likely to have six to eight industries, he said talks were on with some steel and logistics firms.
“The talks are in the early stage and it might take one to two months to get translated into sale”, Eshwar said. G Square Sales Head Thiagarajan said the company has 2,000-plus acres of land bank. He said the company entered the Plot (open land) development sector in June last year and earned Rs 1,000 sales from July to December last year in Chennai (27 projects), Coimbatore (five) and Hosur (one). “We are eyeing a sale of Rs 2,250 crore from January to June this year. We have already crossed the halfway mark by recording Rs 1,000 crore sales between January and March. We are confident of achieving our target by June”, he added.
