Rs 2,000 cr housing proj to come up in Punjab

CHANDIGARH: Real estate developer ATS Group today announced to set up a premium housing project along with a five star hotel at Dera Bassi in Punjab with an estimated investment of Rs 1,500-2,000 crore.

Proposed to be developed over 300 acres of land located 12 kilometers from Chandigarh, the entire project will boast of 2,500 to 3,000 dwelling units, including flats, independent floors and villas. The project will be completed by 2015, ATS Group MD Getamber Anand told reporters here.

The company also proposes to come up with a 5-star hotel, hospital, shopping mall, retail park and sports facilities in the upcoming housing project.

"With Dera Bassi emerging as a gateway of Chandigarh, we are confident of playing a key role in expansion of the city," Anand said.

ATS Group has already developed 350 flats and out of which 300 units have already been sold, he said.

The group has also tied up with Sarovar Group for the five star hotel coming up here.