Salarpuria Sattva enters affordable housing biz

New Delhi: Bengaluru-based realty firm Salarpuria Sattva is entering into affordable housing segment and plans to develop two projects in the IT city with an estimated investment of around Rs 900 crore.

Salarpuria Sattva is one of the leading real estate developers in South India. It focuses more on commercial real estate projects.

The company, in partnership with global investment firm Blackstone, has developed many commercial projects.

Recently, Blackstone and Salarpuria Sattva bought 'Global Village Tech Park' in Bengaluru from Coffee Day Enterprises Ltd for Rs 2,700 crore.

"We are entering into the affordable housing segment. We are coming up with two projects to begin with," Salarpuria Sattva group Managing Director Bijay Agarwal said.

He said the company will sell residential units in a price range of Rs 25-60 lakh in these two projects comprising about 2,500 flats. The per sft rate will be around Rs 3,500-4,000.

The two projects, one located near the Kempegowda airport and other on the Mysore road, are expected to be launched early next year.