ATS’ HomeKraft to invest Rs 500 cr in its first project, launches Happy Trails
New Delhi, April 20,2018: HomeKraft, an ATS Group company, one of the leading real estate developer in the National Capital Region (NCR) has launched its first project in Greater Noida West, Uttar Pradesh.
The company plans to invest Rs 500 crore to develop the project and will fund it from debt, internal accruals and customer advances.
The project, Happy Trails, which is expected to be delivered by 2022 is the first project by newly created entity HomeKraft by ATS Group to focus on mid segment housing. It will have 17 lacs sqft saleable area with 80% green area development and an excellent connectivity.
“This is our first project and we are sure it will set benchmarks for realty development in the region. Our lineage has been to deliver top quality projects and execute it within the committed deadline. We believe market is now ripe for the mid segment housing to grow at a steady pace for capital appreciation as well as housing demand,” Mr. Prasoon Chauhan, CEO, HomeKraft, an ATS Group company said.
Happy Trails in Sector 10 Greater Noida West would feature a central Clubhouse, swimming pool, tennis court and green landscaping. The Club facilities include indoor squash room, multi-purpose Hall, card rooms, indoor gymnasium, etc.
It will come in 2 & 3 Bedroom With Study with sizes starting 1165 sq ft to 1625 sq ft. These apartments would qualify under the PMAY scheme, wherein, various concessional schemes of govt. like interest subvention under CLSS, concessions on GST etc. are available. All these benefits would pass on to the customer basis their respective eligibility and further reduce the cost of the apartment.
HomeKraft is led by Mr. Prasoon Chauhan, CEO, a banking veteran with more than twelve years of real estate finance experience in two of the finest private sector banks of the country namely ICICI Bank and Yes Bank.
ATS has already witnessed a phenomenal growth with nearly 30 million square feet of residential space delivered and 40 million square feet underway, nearly 7,000 units of apartments delivered, 3,500 dedicated workforce, extraordinary in-house construction, security, facility and maintenance teams and unmatched brand equity.
Experts believe there is a strong demand for affordable and mid income housing segment as also it is a key pillar of Indian Government’s vision of Housing for All. With recovery now expected in the overall real estate sector, affordable and mid segment housing, which can benefit from PMAY are set to reap the benefits of revived buyer demand.