Real estate company ATS Homekraft has sold around 400 residential plots for more than ₹1,200 crore in its new project on Yamuna Expressway on strong consumer demand.
The company will develop a 63-acre plotted development project, ‘Province D Olympia’ on Yamuna Expressway, near the upcoming Noida International airport in Jewar, Uttar Pradesh.
“We have launched first phase of a 63-acre project comprising around 400 plots. We received a tremendous response from the customers and all plots have been sold out,” ATS Group MD Udaivir Anand said.
The company received expression of interests (EOIs) from around 1,000 customers, he added.
“The total sale bookings value for the first phase is ₹1,200 crore,” Anand said.
He said the plots were sold in a price range of ₹2-4 crore.
Anand said the company would launch the second phase comprising around 200 plots at a later stage.
This project is part of a large 100-acre township, with 35 per cent of green area.
In this township, ATS has already developed and handed over a group housing project ‘ATS Allure’ with over 1,100 apartments.
Going forward, Anand said the company plans to develop serviced apartments and high street retail project in this township.
Talking about the overall ATS Group, Anand said, “We have completed and delivered over 4,000 homes across Noida, Gurugram and Chandigarh in the last 30 months.”
He said the company is focusing on completing ongoing projects, payment of land dues and reduction of bank loans.
Anand said the company will be launching more housing projects in Delhi-NCR in the next fiscal to monetise its land bank.
He said the housing demand continues to be strong.
In October, ATS Homekraft sold entire around 340 luxury homes in first phase of its project ‘Sanctuary 105’ on Dwarka Expressway, Gurugram for ₹825 crore. The second phase will be launched this year comprising around 400 flats.
ATS Group has delivered more than 50 million square feet till date and has 30 million square feet area under development across Delhi-NCR, Punjab and Mumbai markets.