Realty firm ATS Homekraft has successfully sold all approximately 340 luxury homes in the first phase of its new project along the Dwarka Expressway in Gurugram, generating Rs 825 crore in sales due to strong demand from end-user customers.
ATS Homekraft, the flagship company of the ATS group, launched its premium residential project, ‘Sanctuary 105,’ in Sector 105 earlier this month. The response from end-consumers has been overwhelmingly positive, leading to the complete sale of the 334 units released in the first phase, which spans 13 acres. The company received expressions of interest from over 700 potential buyers eager to invest in the project.
Udaivir Anand, Managing Director of ATS Homekraft, explained that the company aimed to launch this luxury housing project at an affordable price point to attract end-users and first-time homebuyers. He noted that since the COVID-19 pandemic, the Gurugram market has seen numerous new projects priced above Rs 5 crore per apartment, but there has been limited supply in the below Rs 5 crore category. “We have aimed to fill this gap,” Anand stated.
Each tower in the project features only two apartments per floor, ensuring exclusivity. Anand also mentioned that the company plans to develop around 750 apartments within this project, which will have a built-up area of 2.3 million square feet and a saleable area of over 1.6 million square feet. Additionally, the project will include 1.3 lakh square feet of high-street retail space.
Construction on the project has already commenced. ATS Homekraft operates as an aspirational housing venture under the ATS Group and has HDFC Capital as an equity partner. Anand indicated that ATS Homekraft intends to launch more projects this fiscal year to capitalize on the strong housing demand in major cities across India.
Vijay Harsh Jha, founder and CEO of Gurugram-based real estate brokerage firm V S Realtors (I) Pvt Ltd, attributed the rapid sell-out of the new project on the Dwarka Expressway to the strong brand value of ATS Homekraft, as well as the competitive pricing offered compared to other players in the market.
The parent company, ATS Group, has delivered more than 50 million square feet to date and currently has 30 million square feet under development across the Delhi-NCR, Punjab, and Mumbai markets.