NCR’s renowned realty leader, ATS Infrastructure, has touched a new high. Despite the slow movement in the real estate market, the developer has sold 975 flats worth Rs 1,000 crore during the last three months.
The sales result seems to be the result of the company’s reported aggressive three-month campaign where it sold flats across 15 under-construction projects in Noida, Greater Noida, Gurugram, Mohali and Chandigarh. The sales figure also includes those of mid-income and affordable housing projects belonging to Homekraft, ATS’ JV firm with HDFC Capital.
While 650 units of ATS Infrastructure brand got sold, 325 units belonged to Homekraft. The average price of ATS’ units that were sold was Rs. 1.25 crore while the ticket size of Homekraft’s projects was Rs 55 lakh.
“ATS has created a name in building world-class projects and has earned the goodwill of customers by delivering projects on time and with best in class construction quality,” TOI quoted ATS Infrastructure CMD Getamber Anand as saying.
ATS group CMD Getamber Anand also declared that the sales momentum will continue in the upcoming festive season as well which is driven by end-user demand. The group has already delivered 30 million square feet of residential space and another 40 million square feet is on the way. Check out its recent launch, ATS Le Grandiose, here.
Apart from being a leader in high-end housing, ATS has also ventured into affordable and middle income housing with its offering under Homekraft. Noteworthy here is that all apartments under this brand would qualify under the Pradhan Mantri Awas Yojana (PMAY) scheme, wherein, various concessional government schemes like interest subvention under the credit-linked subsidy scheme (CLSS) and concessions on GST would be available. In fact, Homekraft alone is eyeing a sales of 6,000-6,500 units in the next 3-5 years with expected revenue in the range of USD 600-750 million.
Post demonetization and RERA, the market is picking up slowly and steadily. However, the consumers still seem to be wary of notorious developers and are resorting to only trusted names. No wonder, the end-user is seen shifting towards developers like ATS Infrastructure, who have delivered good-quality projects in the past.