ATS’ HomeKraft to invest Rs 500 cr in its first project

NCR based HomeKraft, an ATS Group company, has launched its first project in Greater Noida West, Uttar Pradesh. The company plans to invest Rs 500 crore to develop the project and will fund it from debt, internal accruals and customer advances. The project, Happy Trails, which is expected to be delivered by 2022 is the first project by newly created entity HomeKraft by ATS Group to focus on mid segment housing. It will have 17 lacs sqft saleable area with 80% green area development. “We believe market is now ripe for the mid segment housing to grow at a steady pace for capital appreciation as well as housing demand,” Mr. Prasoon Chauhan, CEO, HomeKraft, an ATS Group company said. The project will consist of 2 & 3 Bedroom with Study with sizes starting 1165 sq ft to 1625 sq ft. These apartments would qualify under the PMAY scheme, wherein, various concessional schemes of govt. like interest subvention under CLSS, concessions on GST etc. are available.