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Noida-based real estate developer ATS is planning to launch five residential projects in Gurgaon. Together, the projects involve an investment of about Rs 3,000 crore.
Through these projects, to be located in the Dwarka Expressway region, the company aims to deliver 2,500 residential units in the next three-four years, ATS Chairman and Managing Director Getamber Anand told Business Standard.
Two of the projects are under construction, while another might be launched soon. Two are waiting environmental clearances. “Each project will cost around Rs 600 crore, including land,” Anand said.
To avoid delays and save costs, the company is buying only licensed land.
Apart from Gurgaon, ATS also has residential projects in Chandigarh, Dehradun and Dera Bassi. The company plans to focus on markets in northern India alone. “There is enough demand and market for real estate in North,” Anand said.
Most ATS projects are funded through the special purpose vehicle route. HDFC Asset Management and ICICI Prudential are among the fund partners in ATS projects. “We have no plans of listing. Internal funding, along with other fund partners, would be our only way,” Anand said.
Meanwhile, in his personal capacity, Anand has floated a new firm, Anand Rural Housing Infrastructure Pvt Ltd, to launch housing units priced below Rs 10 lakh. It plans to target tier-IV and tier-V cities such as Bijnaur, Moradabad, Bareilly and Bulandshahr. The company would deliver 200 such units by December this year and another 100 by June next year.
These units would be launched under the brand Jeevan Geet. Anand clarified the new firm wasn’t linked to ATS.
