ATS group to invest Rs 2k cr in Derabassi

Written by Preeti Parashar | Chandigarh | Updated: Nov 27 2010, 06:44am hrs
Realty developer ATS group has firmed up plans to invest close to Rs 2,000 crore into its comprehensive premium development coming up at Derabassi (around 12 km from Chandigarh) in Punjab.

Named as ATS Golf Meadows, the 300-acre township will house a five star hotel to be managed by Sarovar hotels and resorts (ATS Sarovar Premiere); a school run by Learn Today; a multi specialty hospital; besides 3,000 dwelling units.

Getamber Anand, managing director, ATS Group, said Rs 2,000 crore will be invested into the project over a period of five years (till 2015). We have developed the first phase of the project over 14 acre as ATS Prelude with 13 towers comprising three and four bedroom apartments. Out of the 350 flats, we have sold 300 flats with possession of 150 flats handed over to the customers. Two more towers with 56 flats will be launched on Friday alongwith 445 villas, said Anand. Adding further, he said, the township will also have the latest in modern amenities and societal facilities.