Realty firm ATS group will require around Rs. 400 cr to acquire the stalled projects of Logix group in Noida (Uttar Pradesh), its CMD Getamber Anand said. He further said, the initial amount of Rs. 50 crore would be infused by the company to start the construction work from the end of this month for three projects.
“We will need around Rs 400 crore to complete these three projects,” Anand said. With the rise in the plague with many stalled housing projects. ATS group has decided to enter the Project Management Consultancy (PMS) business and take up such withhold projects.
To start, ATS group has bagged three housing projects from Logix group and would help complete over 4,500 units in Logix Blossom County, Logix Blossom Greens and Logix Blossom Zest projects. It has also bid for acquiring Jaypee Infratech which is undergoing insolvency proceedings and help deliver 24,000 flats.
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