New Delhi, Sept. 17 -- Hiranandani Group is taking the lead in the next phase of its industrial and logistics business, planning to invest Rs.2,000 crore to develop 5 million sq. ft across 215 acres in Tamil Nadu, after building the first phase with global private-equity firm Blackstone.

The Mumbai-based real estate group will initially fund and develop Greenbase Industrial and Logistics Pvt. Ltd's expansion on its own, while remaining open to strategic partnerships for future phases, said N. Sridhar, CEO of Greenbase.

Greenbase 2.0, as the expansion is being called, has acquired 160 acres in Palur and Oragadam and another 55 acres in Arani, in north Chennai. The company plans to develop industrial and warehousing facilities on the land...