Sattva Group Acquires 8.5-Acre Land Parcel in EPIP, Bengaluru for Rs 300 Crore

Sattva Group has acquired an 8.5-acre land parcel in Bengaluru's Export Promotion Industrial Park (EPIP) for approximately Rs 300 crore. The land, which was previously used by Novo Nordisk India for over a decade, has a built-up area of 188,000 square feet and offers potential for further development, including an expansion of up to 1.2 million square feet. It also features a data centre with a 35 MW capacity.

Strategically located in one of Bengaluru’s primary business hubs, the acquisition strengthens Sattva Group’s footprint in the city’s thriving commercial real estate sector. The EPIP area is known for housing industries such as IT, biotech, and manufacturing, making it an ideal location for future commercial and industrial growth.

The acquisition comes as part of Sattva Group’s long-term strategy to expand its presence in Bengaluru’s growing business districts. According to sources familiar with the deal, this purchase will bolster the company’s position in the commercial real estate market, providing opportunities to attract major tenants for office space, data centres, and other developments.

Sattva Group is actively working on consolidating its office portfolio, with plans to list India’s largest Real Estate Investment Trust (REIT) in partnership with Blackstone. The REIT, which could encompass around 50 million square feet of office space, is expected to enhance the company’s status in the commercial real estate sector.

The site in EPIP, with its prime location and development potential, is expected to meet the growing demand for commercial real estate in Bengaluru. The area’s ongoing development and its appeal to businesses in sectors like IT and biotech make it a lucrative investment for Sattva Group, reinforcing its commitment to leveraging Bengaluru’s position as a leading business and technology destination in India.

Sattva Group, in partnership with Blackstone, already holds around 32 million square feet of real estate assets, including 20 million square feet of completed properties in Bengaluru and Hyderabad. The company is also in discussions to launch a real estate investment trust (REIT) early next year. Sattva’s portfolio spans across 11 business verticals, including residential, commercial, data centres, warehousing, and hospitality. The company has 88 million square feet in planning and development stages, further solidifying its presence in the real estate market.

This acquisition highlights the continued interest of both institutional and private players in Bengaluru’s real estate market. The demand for properties with future development potential, especially in prime locations, is rising as developers look to meet the growing needs of expanding industries. 

Image source- industryexperts.co.in