ATS Realty and Greenbay Infrastructure, a group company of ATS Infrastructure, deposited Rs 130 crores with the Yamuna Expressway Industrial Development Authority (YEIDA) toward the outstanding dues on land parcels in Sector 22D along the Yamuna Expressway close to the upcoming Noida International Airport and the proposed International Film City.
With the latest deposit, ATS Realty has met the minimum due for the outstanding amount (land dues) for a 100-acre township it is developing on the Yamuna Expressway. In line with the Amitabh Kant committee-led recommendations, the YEIDA had granted the company time till August 31 to clear 25% of their outstanding dues and clear payments towards additional farmer compensation.
ATS Group Chairman Getamber Anand said, " The Amitabh Kant committee report significantly helps the sector as it will kick-start many stalled projects."
"Our company is committed to providing a top-end experience to our customers across income groups. The COVID-19 overhang is now behind us. Work has already started on various projects, and the aim is to complete them as soon as possible," Anand said.
The company has already developed a group housing complex comprising 1145 flats on land measuring 8.5 acres in the same township and has handed over the project to homebuyers. The company intends to create a state-of-the-art residential township on the Yamuna expressway under the ATS Homekraft brand.
The Centre's push for housing for all will need a speedy resolution of such deadlocks to expedite project delivery for the scores of buyers across the middle and lower-income groups who have already paid substantial amounts for owning a home. Pickup in housing and construction is also vital for allied sectors, employment, and job creation.
