ATS’ HomeKraft to invest Rs 500 crore in its first project, launches Happy Trails
HomeKraft, an ATS Group company, 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 to focus on mid-segment housing. It will have 17,00,000 sq-ft saleable area with 80% green area development and 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 them within the committed deadline. We believe the market is now ripe for mid-segment housing to grow at a steady pace for capital appreciation as well as housing demand,” said Prasoon Chauhan, CEO, HomeKraft.
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 options, with sizes starting from 1,165 sq-ft and going up to 1,625 sq-ft. These apartments would qualify under the PMAY scheme, wherein, various concessional schemes of the Government, such as 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.
ATS has already witnessed a phenomenal growth with nearly 30 million sq-ft of residential space delivered and 40 million sq-ft underway, nearly 7,000 units of apartments delivered, 3,500 dedicated workforce, extraordinary in-house construction, security, facility and maintenance teams and great brand equity.
Experts believe there is a strong demand for affordable- and mid-income housing segment as also that it is a key pillar of the 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 the PMAY, is set to reap the benefits of revived buyer demand.