The growth of internet of things and wireless technology has led to enormous generation of data for various application uses such as healthcare, scientific and data intensive application. Cloud based Storage Area Network (SAN) has been widely in recent time for storing and processing these data. Providing fault tolerant and continuous access to data with minimal latency and cost is challenging. For that efficient fault tolerant mechanism is required. Data replication is an efficient mechanism for providing fault tolerant mechanism that has been considered by exiting methodologies. However, data replica placement is challenging and existing method are not efficient considering application dynamic requirement of cloud based storage area network. Thus, incurring latency, due to which induce higher cost of data transmission. This work present an efficient replica placement and transmission technique using Bipartite Graph based Data Replica Placement (BGDRP) technique that aid in minimizing latency and computing cost. Performance of BGDRP is evaluated using real-time scientific application workflow. The outcome shows BGDRP technique minimize data access latency, computation time and cost over state-of-art technique.