solution
From 11g, ORACLE_HOME is derived from ORACLE_BASE. Until 11g, it was not mandatory to specify or set ORACLE_BASE. All that you had to do is set ORACLE_HOME.
But now, you will have to specify ORACLE_BASE and then ORACLE_HOME will be derived from that as part of OFA standard.
So, if your ORACLE_BASE = /u02/app/oracle, then ORACLE_HOME cannot be outside of this base structure--leaving behind the "oracle" part in the ORACLE_BASE. That is, your ORACLE_HOME must sit on ORACLE_BASE. So, Oracle can create something like /u02/app/oracle/11.2.0/<grid>
Hope this helps
See this just in case 11g Release 2 (11.2) for Windows and UNIX
Regards
From the above doc link
Introduction to Oracle Base
The Oracle base location is the location where Oracle Database binaries are stored. During installation, you are prompted for the Oracle base path. Typically, an Oracle base path for the database is created during Oracle Grid Infrastructure installation.
To prepare for installation, Oracle recommends that you only set the ORACLE_BASE environment variable to define paths for Oracle binaries and configuration files. Oracle Universal Installer (OUI) creates other necessary paths and environment variables in accordance with the Optimal Flexible Architecture (OFA) rules for well-structured Oracle software environments.
For example, with Oracle Database 11g, Oracle recommends that you do not set an Oracle home environment variable allow OUI to create it instead. If the Oracle base path is /u01/app/oracle, then by default, OUI creates the following Oracle home path:
/u01/app/oracle/product/11.2.0/dbhome_1
Ensure that the paths you select for Oracle software, such as Oracle home paths and the Oracle base path, use only ASCII characters. Because installation owner names are used by default for some paths, this ASCII character restriction applies to user names, file names, and directory names
