ATS Group, the Noida-based developer has announced its foray to the Gurgaon property market with residential projects. The group has already acquired two land parcels in the city – approx 12.2 acres in Sector 109, and approx 10.5 acres in Sector 104, Gurgaon, for the projects. Both these lands parcels are along the Northern Periphery Road (NPR) that is proposed to connect Delhi International Airport via Dwarka to National Highway 8.
An initial investment of approx. Rs.140 Cr for acquisition on the land parcels has already been made by the company. The company is likely to invest over Rs.400 crore to develop these projects. The company is open to more investments in Gurgaon and is in the look-out for appropriate land parcels in the region.
Speaking at a press conference, Getamber Anand, Managing Director, ATS Group said, “Gurgaon has developed as an important destination for real estate developments. The real estate market in Gurgaon is backed by strong fundamentals and sustainable demand and offers competitive challenge to any real estate developer to deliver quality homes in the region.”
“Through this strategic foray we aim to bring our decade long legacy of providing better way homes through quality in-house construction, well thought out spaces and trust to discerning consumers in Gurgaon. Our residential projects, as always, will provide consumers an exclusive lifestyle experience that will redefine the concept of affordable luxury”, added Anand.
ATS Group expects to launch the first project in Sector 109 in Gurgaon later this year after the receipt all due approvals from the authorities. The project is a joint development with the landowner, Chintels Group.
The second project is situated in Sector 104. The company has achieved financial closure in this project.
Soumik Bandyopadhyay, Chief Executive Officer, ATS Group said, “With focus on consumers our projects are aimed to meet every aspect of the user’s need for a home, be it convenience or comfort. Our in-house construction team provides us with the cutting edge ability to manage quality, costs and delivery and is indeed the competitive advantage in the market place today. We are constantly enhancing our execution capability and aim to develop 10 mn sq ft area in Gurgaon over next 5 years.”
ATS claims the projects will be competitively priced to offer value for money to the customers and investors. The projects will be developed in single phase and completed within 30 months from the date of launch. The company has set a budget of Rs. 10 crore for promoting these projects. Renowned architect Hafeez contractor will be the master architect for the Gurgaon projects.
ATS Group is currently developing over 12 mn sft of group housing projects in Noida, Indirapuram and a large township of approx 300 acres in Derabassi, near Chandigarh. The company also has land parcels in Dehradun and Goa.
