Salarpuria buys Rs. 100 crore property from French Multinational Schneider

Bengaluru News

Salarpuria Sattva, the Real estate Company purchased a property worth Rs. 100 crores from the French multinational company Schneider Electric. This is a commercial property and is spread across eight lakh sq. ft. area.

According to the sources, the buying-selling agreement is signed and the monetary transaction has also been carried out between the two companies. Schneider used this property for a long time before they decided to disinvest the same.

On the other hand, the Salarpuria Sattva group is planning the expansion of their commercial portfolio both organically and inorganically. The company will make use of this land to redevelop the commercial property for IT sector.

The sources said that the property is developed on six acres land and the Salarpuria Sattva has planned to redevelop the entire structure as an electronic city that will be one of the IT hubs of Bangalore. The Salarpuria group is also planning an expansion of their commercial portfolio from 15 million sq.ft. to 24 million sq. ft. in the next two years. This expansion is planned across Hyderabad and Bengaluru region.

The Salarpuria Sattva group is a Kolkata based company that was established in the year 1986 with the aim to offer commercial and residential Property development Consultancy. The company expanded their wings to Bangalore in 1992. The company’s headquarter is in Bangalore, however, it functions in Kolkata, Hyderabad, Pune, Jaipur, Goa, and Coimbatore.