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ATS to complete three Noida projects of Logix Group, to deliver 4,500 flats

Press Trust of India  |  New Delhi 

With the Delhi-property market plagued with stalled housing projects, realty firm Wednesday said it will complete over 4,500 delayed flats of in

ATS has forayed into project management consultancy (PMC) business and has bagged three projects -- Logix Blossom Greens, and Logix Blossom Zest in Noida,

"The effort to complete the construction of the three projects will ensure delivery of over 4,500 apartments, launched by Logix Group, beginning end of 2019 in a phased manner," ATS said in a statement.

Around 5.6 lakh housing units, worth Rs 4.5 lakh crore in seven major cities are running behind the delivery timelines, mainly due to demand slowdown and fund diversion by developers, according to

Delhi-has 2,10,200 units worth Rs 1,31,460 crore running behind schedule.

"ATS PMC will endeavour to take up incomplete projects, where with and construction, due diligence execution will be made ensuring delivery as per stipulated timelines," the statement added.

ATS PMC along with Logix would hold discussions with UP RERA, Authority, financial institutions and other stakeholders, including buyers, to develop a mechanism for completion of the projects, it said.

State-owned NBCC is completing some projects of the crisis-hit Amrapali Group, as per a direction of the It has also bid for acquiring Jaypee Infratech, which is undergoing insolvency proceedings, and help deliver around 24,000 delayed flats.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 10 2019. 21:26 IST