ATS Homekraft to develop housing project on Dwarka Expressway

21 Oct 2024 CW Team

Realty firm ATS Homekraft plans to invest ?1,300 crore to develop a luxury housing project on the Dwarka Expressway in Gurugram, capitalizing on strong demand for residential properties. As part of its expansion, the company has launched the premium residential project 'Sanctuary 105,' which spans 13 acres and includes approximately 700 apartments.

In the first phase, ATS Homekraft has sold around 340 luxury homes for ?825 crore. Udaivir Anand, Managing Director of ATS Homekraft, stated that the project is designed to target end-users and first-time homebuyers by offering luxury living at more affordable rates.

The project will comprise around 750 apartments, with a built-up area of 23 lakh square feet and a saleable area exceeding 16 lakh square feet. The total investment of ?1,300 crore includes land costs and will be funded through internal accruals.

Post-COVID, the Gurugram market has seen a surge in new projects priced above ?5 crore per apartment, while supply in the sub-?5 crore bracket has been limited. Anand emphasized that this project aims to fill that gap.

Additionally, the company plans to develop 1.3 lakh square feet of high-street retail space within the project. Construction has already commenced.

ATS Homekraft is a housing venture under the ATS Group and has HDFC Capital as an equity partner. Anand indicated that the company will launch more projects this fiscal year to meet strong housing demand across major Indian cities.

The ATS Group has delivered over 5 crore (50 million) square feet to date and has an additional 3 crore square feet under development in Delhi-NCR, Punjab, and Mumbai.

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