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Real estate firm ATS Group on Tuesday said it would develop two housing projects in Gurgaon with an investment of nearly Rs 550 crore. The Noida-based company would develop 924 housing units in both these projects over the next three years.
“We are foraying into the Gurgaon real estate market with two group housing projects.
“The first project, spread over 12.2 acre, will be developed in joint venture with land owner Chintels Group,” ATS Group Managing Director, Mr Getamber Anand, told reporters here.
ATS would develop the second housing project over 14.59 acres, out of which 10.5 acres have already been acquired by the company. This project would be launched early next year.
Asked about the investment, the ATS Chief Executive Officer, Mr Soumik Bandyopadhyay, said the company had invested about Rs 140 crore on land acquisition and another Rs 400 crore would go toward construction.
On funding the proposed investment, Mr Anand said the financial closure of the projects has been achieved.
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