ATS Homekraft sells 340 flats on Dwarka Expressway for Rs 825 cr

15 Oct 2024 CW Team

Realty firm ATS Homekraft has successfully sold all 340 luxury homes in the first phase of its new project along the Dwarka Expressway in Gurugram for ?825 crore, driven by strong demand from end-user customers.

The project, named 'Sanctuary 105,' was launched earlier this month and has received an overwhelming response, with over 700 expressions of interest from potential buyers. The housing project spans 13 acres and features 334 units.

Udaivir Anand, Managing Director of ATS Homekraft, noted that the company aimed to offer this luxury housing project at an affordable price to target end-users and first-time homebuyers. He highlighted a post-COVID trend in Gurugram, where many new projects have been priced above ?5 crore per apartment, creating a supply gap in the sub-?5 crore category.

The design of the towers includes only two apartments per floor, enhancing privacy and exclusivity. The project will ultimately develop around 750 apartments with a built-up area of 2.3 million square feet and a saleable area exceeding 1.6 million square feet. Additionally, there will be 130,000 square feet of high-street retail space integrated into the development.

Construction has already commenced on the project. ATS Homekraft, a subsidiary of the ATS Group, has HDFC Capital as an equity partner and plans to launch more projects this fiscal year to capitalize on the strong housing demand in major Indian cities.

Vijay Harsh Jha, founder and CEO of Gurugram-based real estate brokerage V S Realtors (I) Pvt Ltd, attributed the quick sell-out of the project to ATS Homekraft’s brand reputation and the competitive pricing compared to other market players.

The parent company, ATS Group, has delivered over 50 million square feet of real estate and currently has 30 million square feet under development across Delhi-NCR, Punjab, and Mumbai.

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