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Sandesh now owns Applewoods

Sandesh Ltd announced the acquisition of entire stake from foreign investors in Applewoods Estate for a sum of Rs322 crore.

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Sandesh Ltd - a group with diverse business interests in addition to its flagship business of publishing Gujarati daily, on Wednesday announced the acquisition of entire stake of foreign investors in Applewoods Estate Pvt Ltd for a sum of Rs322 crore.

Parthiv Patel, managing director, Sandesh Ltd, said, “Applewoods Estate Pvt Ltd, which was earlier a venture between foreign investors and domestic promoters, is now fully owned by domestic promoters.

The decision to up our stake in the township, which is being developed at a projected investment of Rs3000 crore, is backed by thorough research and consultation and we are happy to have completed the deal at this stage of the project.”

Sandesh Procon, the group’s real estate arm, has developed and is developing many projects in the state.

“We are known to deliver quality and Applewoods Township will be no different. With the changed holding pattern, we now enjoy full autonomy in Applewoods’ workings and this will enable us to keep our promise of completing the project in time and with all the features intact,” said Patel.

“Following AUDA’s approval, the work at Applewoods’ site is on in full-swing. The country’s leading banks and financial institutions are offering loan facilities to prospective buyers in the Applewoods Township. We have hired the best of engineers, planners, designers and consultants who are working rigorously to ensure we are able to create for our patrons, ‘a world within the world’ and a township that is all-encompassing, self-sufficient and environment-friendly”, said Patel.

Applewoods is an integrated township spread over 128 acre, located on the SP Ring Road.

The development area of over 90 lakh sq ft has been conceptualised by architects to include 400 bungalows, 3500 varied-sized apartments and 10 lakh sq ft of corporate space.

The township has over 75% open space - more than 15,000 trees, 5 lakh sq ft of theme parks, gardens and lakes, club houses, cycling and jogging tracks, multi-faceted sports arenas, health clubs and more, would pave the way for a happier and healthier life for its occupants.

Entertainment zones, multiplexes, food courts, fine dining restaurants, play areas for children, sit-outs for senior citizens, hangouts for women and a community centre -Applewoods would make available all amenities to offer a life full of fun, frolic and adventure.

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