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

Realty firm ATS Homekraft has sold entire around 340 luxury homes in first phase of its new project on Dwarka Expressway, Gurugram for Rs 825 crore on strong demand from end-user customers.

ATS Homekraft, a flagship company of ATS group, has launched premium residential project 'Sanctuary 105' along the Dwarka Expressway in Sector 105 early this month.

The company received good response from the end-consumers and has been able to sell the entire 334 units launched in phase 1 of this housing project, which is spread over 13 acres. The company got expression of interests from more than 700 customers who wanted to purchase in this project.

The sale bookings value of these 334 units is Rs 825 crore.

Udaivir Anand, Managing Director of ATS Homekraft, said the company launched this new luxury housing project at an affordable rate to target end-users and first time homebuyers.

Post-COVID, he said, the Gurugram market has seen many new projects in a price bracket of more than Rs 5 crore per apartment.

"There has been very less supply in below Rs 5-crore category. We have tried to address this gap," Anand said.

Each tower only has two apartments per floor.

Anand said the company will develop around 750 apartments in this project which has a built up area of 23 lakh square feet and a saleable area of over 16 lakh square feet.

He said the company would also develop 1.3 lakh sq feet high-street retail space within this project.

The construction work has started in this project.

ATS Homekraft is an aspirational housing venture platform of the ATS Group and counts HDFC Capital as an equity partner.

Anand said ATS Homekraft will be launching more projects this fiscal year to tap strong housing demand across major cities in India.

Gurugram-based real estate brokerage firm V S Realtors (I) Pvt Ltd founder and CEO Vijay Harsh Jha attributed the complete sold-out of this new project on Dwarka Expressway within few days to the brand value of ATS Homekraft and also lucrative price offered by the company compared to other players in the same market.

ATS Homekraft's parent company ATS Group has delivered more than 5 crore (50 million) sq ft till date and has 3 crore sq ft area under development across Delhi-NCR, Punjab and Mumbai markets.