Sandal Lands Pvt. Ltd, a subsidiary of Assotech Realty (P) Ltd, will expand its serviced apartments business to major cities of India over seven to eight years. The real estate company has identified major business, leisure and pilgrimage destinations in the country for this expansion under the brand name of Sandal Suites. Assotech Realty, which entered into the serviced apartments business in 2008, currently manages Cabana Serviced Residences, which houses 272 all-suite serviced apartments at Indirapuram in Delhi NCR.
“We have entered into serviced apartments on an experimental basis with Cabana Serviced Residences while the country was witnessing an IT boom. We offered long-stay solutions with two-star facilities, including conference halls, health clubs, pools, etc., and it was an instant hit with major corporate houses in the IT sector such as HCL, NIIT, Alstom, etc.,” said Salil Kumar, Director, Sandal Lands Pvt. Ltd. Looking at the increasing demand for long-stay solutions across travel verticals like leisure, business and pilgrimage, the company has decided to expand the model to different destinations in the country, Kumar informed. “We have formed a dedicated division under Sandal Lands to take the business forward,” he added.
The leisure destinations identified for serviced apartments by the company include Goa and Kochi, while Shirdi, Tirupati and Katra are key pilgrim destinations currently on their map. Among business destinations, Sandal Lands has projects in Noida and Gurgaon in the NCR, Lucknow, Indore, and Ahmedabad, among others. All future serviced apartments will be in four- and five-star all-suites category, Kumar said. The construction of 250-suite serviced apartments in Ahmedabad, 130-suite in Shirdi, and 143-suite in Noida are in progress. “The Noida project is part of a 1,500,000-sq-ft corporate park and is expected to be up and running in the next two years,” he added.