ATS Group pays Rs 130 crore to YEIDA against land dues; revives 100-acre township in Greater Noida

Realty firm ATS Infrastructure's arm has made part-payment of Rs 130 crore to Yamuna Expressway Industrial Development Authority (YEIDA) against its land dues to revive a 100-acre township project.

ATS Realty and Greenbay Infrastructure, a group company of ATS Infrastructure, has "deposited Rs 130 crore with the YEIDA toward the outstanding dues on land parcels in Sector 22D along the Yamuna Expressway", the company said in a statement.

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.

The YEIDA had granted the company time till August 31 to clear 25 per cent 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 1,145 flats on land measuring 8.5 acres in the same township and has handed over the project to homebuyers.

ATS Group intends to create a state-of-the-art residential township on the Yamuna expressway under the 'ATS Homekraft' brand.

The group has developed many projects in Delhi-NCR and other parts of north India.