Gurugram-based real estate company, ATS Homekraft, has sold all of the 340 luxury units in the first phase of its new project, 'Sanctuary 105', located on the Dwarka Expressway in Gurugram. The total bookings for sales of the units stand at Rs 825 crores and had been spurred by significant demand from end users.
ATS Homekraft, an ATS Group housing subsidiary, recently launched 'Sanctuary 105', as a part of its mega residential project. The project spread over 13 acres in Sector 105 has witnessed 334 premium units selling in great haste soon after receiving good word-of-mouth from interested buyers. According to the company, more than 700 clients showed interest in buying units in the project, which speaks volumes about the high demand for the project.
The luxury housing project, designed to cater to end-users and first-time homebuyers, was priced competitively-considering that in a market where homes in the sub-Rs 5 crore category have been in short supply, this high-end residential development would be very attractive. "There has been very less supply in the below Rs 5-crore category. We have tried to address this gap", said Udaivir Anand, Managing Director of ATS Homekraft. Many new projects have been launched in Gurugram since the pandemic. Probably many of them are above Rs 5 crore. In fact, a huge gap is missing in the mid-range luxury market segment.
The project features two apartments per floor in each tower. It gives a layer of exclusivity to the development. The built-up area of the entire project, named 'Sanctuary 105', would be 23 lakh square feet, and saleable area would be above 16 lakh square feet. The plan for constructing nearly 750 luxury flats with 1.3 lakh square feet of high-street retail space will be within the project. Construction work has already begun.
In a bid to cash in on the growing luxury housing demand in Indian mainstays, the HDFC Capital equity partnership led ATS Homekraft has lined up more projects this fiscal. The growth is expected to bag a larger pie of demand for its housing units.
The founder and CEO of Gurugram-based real estate brokerage firm V S Realtors (I) Pvt Ltd, Vijay Harsh Jha, said the sell-out took place so fast thanks to the high brand value of ATS Homekraft plus competitive pricing. In fact, if it sells out that fast, then that means that it has left many more competitors sitting in the same market far behind, he said.
Copyright © 2024 HomesIndiaMagazine. All Rights Reserved.
