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ATS group to pour Rs 2,000 cr for low-cost homes

Thursday, 22 Mar 2018

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Realty firm ATS's has launched a new venture HomeKraft to construct mid-income and affordable housing projects and will infuse Rs 2,000 crore over the next five years to build about 6,500 units. The first project is expected to be launched in June 2018.

The investment will be funded through internal accruals, debt and private equity funds.

HomeKraft will develop homes of size ranging from 950 sq ft to 1,600 sq ft and in a price range of Rs 30-70 lakh.

To start with, the company will develop projects in the National Capital Region and then across the country.

The company has already entered into joint development agreements with land owners for four projects covering 10 million sq ft of saleable area.