ATS to invest on housing project in Gurgaon

Realty firm ATS Group today said it will invest about Rs 550 crore over the next three years to develop a luxury housing project in Gurgaon.

The company will construct 443 units in the 12-acre project ‘ATS Triumph’ on the Dwarka Expressway in Gurgaon.

‘We are launching a housing project with ready to occupy features. The selling price has been fixed at Rs 7,500 per sq ft,’ ATS Chairman and Managing Director Getamber Anand told reporters here.

Asked about the investment involved, he said, ‘The project cost is about Rs 550 crore’.

Anand said HDFC Portfolio Management Services [PMS] has invested in this project, but declined to give details.

The company would develop eight towers in this project and the size of the units are 2,290 sq ft and 3,150 sq ft.

Asked about the progress of the Dwarka expressway, being developed by Indiabulls, Anand said that 12 km out of total 18 km are expected to be completed by the end of this year.

On the remaining 6 km, he said the government is taking steps to get the land vacant by rehabilitating the people.

Talking about company’s projects, he said ‘We have delivered 5,000 apartments in the NCR so far and right now, we are constructing 2,500 apartment’.

ATS is also developing a 300-acre township in Chandigarh.