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There is a huge market for mid and affordable segment projects: Prasoon Chauhan, CEO, HomeKraft

Led by its CEO, Mr. Prasoon Chauhan, HomeKraft is one such real estate developer that has taken the industry by storm. Offering ‘Aspirational Homes’, HomeKraft is the mid and affordable segment brand by the ATS Group. In a candid conversation with RealtyMyths, Prasoon, a banking veteran with more than a decade of real estate experience, talked about the brand and its expansion plans. Here are the excerpts of the conversation.

ATS has been known for quality luxury projects. With HomeKraft, ATS has now ventured into mid and affordable segments. How do you plan to establish brand HomeKraft in an altogether new segment, considering the parent company has no experience of Affordable Housing?

ATS is known for building premium projects and has earned goodwill of customers for delivering projects on time and with best in class construction quality. We’ve had a persistent demand for affordable & mid segment housing from prospective customers, who aspire for an ATS home but are unable to afford due to budget constraints. This has led us to create a new entity ‘HomeKraft’.

The presence of an experienced top of the line sales, marketing and construction team would ensure HomeKraft replicates its parent company’s success.

You received an overwhelming response with almost 250 bookings on the very first day of the launch. Do you consider this as ATS’s legacy or the potential demand in the affordable housing segment? Do you expect similar kind of responses one year down the line as well?

We are delighted with the customer response and are committed to heightened customer satisfaction and on-time delivery.  We are part of the ATS group and its goodwill over several years certainly helped us in launching our first project. We are also witnessing a growing demand for the right prices projects in Noida, Gurgaon and other areas in the NCR. We were getting lot of enquiries for the project in the mid-income and affordable segment, which led to creation of HomeKraft.

We expect demand to continue to grow and in fact grow as the festive season sets in. We expect similar excitement for our future launches as they will be rightly priced and in great locations.

With the government of India’s focus on ‘Housing for All by 2022’, do you think developers like HomeKraft, who are here to build quality Affordable Housing, have any role in that? Government is also emphasizing hugely on PPP model of developments. Any such plans on your cards?

We are focussing on housing projects in the range of Rs 30-70 lakhs; beginning with projects in NCR followed by rest of India. All apartments under this brand, would qualify under the PMAY scheme, wherein, various concessional schemes of govt. like interest subvention under CLSS, concessions on GST etc. are available. All these benefits would pass on to the customer basis their respective eligibility and further reduce the cost of the apartment.

Do you think markets like Noida have an appetite for Affordable Housing, considering many MNCs have shifted their base to Noida and Greater Noida in recent past?

Yes, we think Noida has an appetite for affordable and mid-income housing and many MNCs have shifted their base or expanded their operations to Noida and Greater Noida. Noida will see tremendous job creation going forward which will lead to demand for economically priced housing.

Please share details of your project launch plan. How many projects do you plan to launch this year and in what locations and why a buyer should wait for them?

We have just launched Happy Trails, which is expected to be delivered by 2022 and is the first project by HomeKraft. It will have 17 lacs sqft saleable area with 80% green area development and an excellent connectivity. We plan to launch few more projects in NCR and then expand to other regions in India in the next 2-3 years.

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