ATS to invest Rs 550 cr on luxury housing project in Gurgaon
Oct 18, 2012
Source : The Economic Times

 

NEW DELHI: Realty firm ATS Group today said it will invest about Rs 550 crore over the next three years to develop a luxury housing project in Gurgaon.
 
The company will construct 443 units in the 12-acre project 'ATS Triumph' on the Dwarka Expressway in Gurgaon.
 
"We are launching a housing project with ready to occupy features. The selling price has been fixed at Rs 7,500 per sq ft," ATS Chairman and Managing Director Getamber Anand told reporters here.
 
Asked about the investment involved, he said, "The project cost is about Rs 550 crore".
 
Anand said HDFC Portfolio Management Services (PMS) has invested in this project, but declined to give details.
 
The company would develop eight towers in this project and the size of the units are 2,290 sq ft and 3,150 sq ft.
 
Asked about the progress of the Dwarka expressway, being developed by Indiabulls, Anand said that 12 km out of total 18 km are expected to be completed by the end of this year.
 
On the remaining 6 km, he said the government is taking steps to get the land vacant by rehabilitating the people.
 
Talking about company's projects, he said "We have delivered 5,000 apartments in the NCR so far and right now, we are constructing 2,500 apartment".
 
ATS is also developing a 300-acre township in Chandigarh. 

Latest Realty News

Ex-IPS officer labels Sharad Pawar, Ajit, Supriya corrupt in Lavasa case
Oct 18, 2012
Mumbai: In the season of scams, Union Minister Sharad Pawar and his close relatives were today dragged into a corruption scandal by a former IPS officer-turned-lawyer for benefitting a private developer by allegedly bestowing undue favours for the controversial Lavasa hill city project. Y P Singh, a former IPS officer of Maharashtra cadre, alleged that Ajit Pawar, irrigation minister and nephe
Land price for industries to go up
Oct 18, 2012
Bhubaneswar: Cost of land for setting up industries in the State is likely to go up. The State-level Single Window Clearance Committee (SLSWCC) on Wednesday decided to make it on par with the benchmark price of the area concerned.
Sunteck Realty eyes entry into retail commercial segment
Oct 18, 2012
MUMBAI: Sunteck Realty BSE -0.30 % is now looking at entering the retail commercial segment, after establishing a stronghold in the high-end residential and commercial space. To begin with, the company is planning to set up a mini-mall in one of its upcoming integrated townships in Goregaon in northern suburbs of the city. The township will be developed on a 23-acre plot in two phases, whic
NHAI, Jaipur Development Authority lock horns over rotary on Agra Road
Oct 17, 2012
JAIPUR: The National Highway Authority of India (NHAI) and Jaipur Development Authority (JDA) have locked horns over the issue of construction of rotary at Agra Road, National Highway 11. The rotary is proposed to provide safe traffic flow after the Ghat Ki Ghuni tunnel is opened for vehicular traffic. However, both the JDA and NHAI have shown apprehensions to construct the rotary proposed to provide safe traffic flow after the Ghat Ki Ghuni tunnel is opened for vehicular traffic.
Economic development corporation notice to DLF for its failed 'mall'
Oct 17, 2012
PANAJI: Trouble continues to haunt the Delhi-based infrastructure company DLF, as the state government-run economic development corporation (EDC) has decided to issue a show-cause notice to the company as to why the lease should not be cancelled as the company has not utilized the plot allotted to them at Patto Plaza, Panaji, within the stipulated time. DLF was allotted the plot of over 18,000
Municipal Corporation yet to get clearance to construct community parking in Chandigarh from UT
Oct 17, 2012
CHANDIGARH: As the parking problem in the residential areas has been increasing day by day, UT architect wing is hardly bothering on the idea of construction of community parking lots despite proposal by the MC. Recently, the MC sent three proposals of community parking in sector 18, 19 and 21 to the architect wing for approval, but no communication has come in this regard so far. As per MC in la
Integrated township planned for outskirts
Oct 17, 2012
AHMEDABAD: FDI-backed real estate firm Alpha G Corp, which owns and manages the Alpha One mall at Vastrapur, is looking at setting up an integrated housing project on city outskirts. The Gurgaon-headquartered company has already launched three township projects, one each at Fatehbad in Haryana, Karnal and Amritsar. The company's 1.2 million square feet Alpha One mall became operational last
Longing for booking gets longer for developers
Oct 17, 2012
AHMEDABAD: The strategy was: To cut down new project launches, first try to sell unsold inventory and check prices from further collapsing in the floppy market. However, despite a healthy footfall at the three-day Gujarat Institute of Housing & Estate Developers (GIHED) property show the plan has worked little for the city developers. The GIHED property show, an annual affair for city develope
South Delhi Municipal Corporation seeks police records to identify defaulters
Oct 17, 2012
NEW DELHI: To identify rented properties in residential colonies which are not paying property tax, the South Delhi Municipal Corporation has sought help from Delhi Police. The corporation has written to SHOs of various areas to share the data pertaining to rented properties in residential colonies under its jurisdiction. Most landlords get a police verification of the tenant done before renti
BMC cracks down on redevelopment project delays
Oct 17, 2012
MUMBAI: Continuing its crackdown on sloppy work, the BMC has outlined a policy limiting the maximum redevelopment project time for its properties to four years and slapping penalties on developers unable to meet deadlines. In a circular on Monday, the estates department listed out seven steps to be taken against developers if they slip up, including cancellation of proposals for delays in the

Latest Realty News Of State

Realty Talk's