ATS Homekraft Grandstand Phase 2, Sector 99A: a new RERA registration, and a Phase 1 that is years late

The two phases

One licence, two developer companies, and a Phase 1 still without an occupation certificate

Haryana RERA registered a project called "Grandstand Phase 2" in Sector 99A on 17 August 2026, certificate 54 of 2026, registration RERA-GRG-2297-2026. The certificate itself went up on the portal on 15 September. On the marketing pages it is "ATS Homekraft Grandstand," a new launch on the Dwarka Expressway. That is true. It is also the second phase of a colony that has been licensed since 2013, and the first phase of that same colony has not yet finished.

Read the two files side by side, because the buyer is being sold one and living next to the other. The land is a single group housing colony of 11.5875 acres, DTCP Licence 37 of 2013 dated 3 June 2013. Its building plans were first approved on 26 May 2014. Phase 1, admeasuring 28,923.29 square metres, was registered with HARERA as RC 06 of 2018 dated 2 January 2018, under the promoter company ATS Realworth Private Limited, and later carried the state registration RERA-GRG-379-2019. Pull up that Phase 1 record on the regulator's own site today (record 979) and its status reads "Extension Certificate Uploaded," with the occupation certificate column showing "Not Yet." Broker and portal pages had marketed Phase 1 possession for December 2023 and then March 2024. Both dates have passed.

Phase 2 is a different registration under a different company. The promoter of record is Homekraft Infra Private Limited, the ATS group's mid-income arm branded ATS Homekraft (CIN U70200DL2017PTC314287, incorporated 10 March 2017, registered at Nehru Place, New Delhi). It covers 3.5680 acres and five residential towers, numbered 4, 5, 6, 7 and 10, carved out of the same colony after a phasing plan was approved on 22 July 2026. So a buyer looking at Phase 2 is buying fresh inventory, on a 2013 licence, from a sibling company of the one whose earlier phase on the identical plot is running years past its promised handover. None of that is a rule violation. It is context the file makes plain and the sales pitch does not.

The file

An "ongoing project," a late fee on 52,501 square metres, and three approvals still to come

The registration is clean in the sense that matters most: it exists, the number is real, and the hearing order is on the record. What the order shows is worth reading closely. Because the whole colony's building plans date back to 2014 and Phase 1 was already registered, the Authority treated Phase 2 as an ongoing project rather than a fresh launch, following the opinion the Advocate General gave in the Sector 63 "GH 63" matter. That classification is why a late fee applies. Of the colony's originally approved 81,425.15 square metres, Phase 1 had taken 28,923.29; the Authority levied the late fee on the balance of 52,501.86 square metres.

The registration is also conditional. The revised Environment Clearance, the revised Fire Scheme and the revised approved service plans and estimates were all "under process" and not obtained as on the date of the order; the promoter undertook to submit them within six months of registration, and to obtain mining permission before starting construction. To secure those undertakings the Authority took demand drafts of Rs 25,00,000 each, forfeitable if the approvals do not come in time. One line of the order says "two" such drafts and the operative closing line says "three," so the order is internally inconsistent on that count; on the operative reading it is Rs 75 lakh at risk. Buyer money is to be ring-fenced in a RERA collection account with HDFC Bank, Sector 14, Gurugram. The filed completion date is 31 March 2031.

This is the fourth "ongoing project" file we have read on Bedrock, after Puri Aerosphere, and it is a useful pattern to recognise. A project can be years old on paper, registered new in 2026 with a late fee, and still be a legitimate, escrow-protected launch. The label to watch is not "new" versus "old." It is which approvals are in hand and which are still promised against a forfeitable deposit.

Site and units

Five towers, two carpet sizes, and a 400 kV line along the east boundary

The approved site layout (drawing SP-1.1, dated 24 December 2025) is more honest about the plot than any brochure map. The colony is an irregular parcel, not a tidy rectangle. Its south-west face is stacked with a 12 metre service road, a 38 metre green belt and a 75 metre sector road, and only beyond all of that, roughly 500 to 800 metres away by the drawing's own dimension lines, runs the Dwarka Expressway (the 150 metre NPR right of way). Marketing that puts the project "150 metres from the Dwarka Expressway" is measuring something other than the carriageway. Along the north-west edge run village revenue rastas (3, 4 and 7 karm wide) and a 24 metre road. And along the east boundary runs a 400 kV high-tension line, which is why the towers on that side carry a setback. A buyer should ask which flats face that line and at what distance, and see it on the stamped plan rather than a rendered one.

The homes come in two carpet sizes, and here the file is the only reliable source. Type A is 151.8 square metres of carpet, about 1,634 square feet, in towers 4 and 7; Type B is 112.04 square metres, about 1,206 square feet, in towers 5, 6 and 10. The file counts roughly 362 apartments across the five towers, sold above two double-height stilt parking levels and a basement, with refuge floors around the 20th and 30th; the taller Type B towers run to about the 37th or 38th floor. Portals quote super built-up areas of 1,550 to 3,300 square feet and mix in the older phase's configuration, so those numbers will not match the registered carpet areas. The carpet figure is the one the builder-buyer agreement must match; insist on the stamped floor plate of your exact unit.

Access

The metro that stops one sector short

Sector 99A sits in the Kakrola, Dhankot and Gopalpur village belt, set back from the expressway rather than on it. On connectivity, the honest position is that there is no operational metro serving the sector today. The nearest working station is Dwarka Sector 21 on the Delhi side, roughly 11 kilometres away and across the expressway, not a walk. The Gurugram Metro loop now under construction (Union Cabinet approval 7 June 2023, PIB releases 1930450 and 1930452) does include a spur to the Dwarka Expressway, but that spur is a single 1.85 kilometre branch from Basai that terminates at a station near Sector 101. Piling on the loop began in October 2025 and the line is not operational; even when it is, Sector 101 is a few sectors north of 99A. A listing that promises "Dwarka Expressway metro connectivity" for this pocket is describing a station that is neither built nor in this sector. Everything on the Delhi side toward the expressway, including the Palam Vihar to Dwarka Sector 21 link, remains at the DPR stage.

Neighbourhood

A drain runs through Sector 99

The most important neighbourhood fact about this address is not a mall or a school. It is drainage. Gurugram's main trunk stormwater drain, the Badshahpur drain or Leg-3, physically runs through Sector 99 on its way to the Najafgarh drain (GMDA, reported in The Tribune, 15 September 2023). When that spine backs up, the belt it passes through floods. GMDA only floated tenders for master stormwater drains in the new Dwarka Expressway sectors (68 to 75 and 112 to 115) in December 2023, after those sectors were built and occupied, and the corridor has flooded repeatedly since: the expressway service roads at Sector 104 in July 2025, and the airport tunnel again on 4 September 2026. This is a documented, structural condition of the corridor, not a one-off.

The water table underneath is the other half of the picture. Gurugram has been a Central Ground Water Authority notified "dark zone," or over-exploited block, since 2008; the CGWB's 2024 assessment put the Gurugram Urban unit's stage of extraction at 326.52 per cent, more than three times recharge. Construction on groundwater is banned (only treated water is permitted), the NGT has had borewells sealed at construction sites in nearby Sectors 102, 103 and 37D, and the Haryana Water Resources Authority fined four Gurugram builders Rs 4.88 crore in 2025 for illegal extraction. A buyer should ask, in writing, what the project's construction and running water source is.

On the ordinary amenities, Sector 99A is emerging rather than settled. The nearest large hospital is the Signature Advanced Super Speciality Hospital in Sector 37D, roughly 1.5 to 2 kilometres away; day-to-day schooling density is really in the Sector 102 and 102A belt; and organised retail inside the pocket is thin (the Ocus Medley commercial project in Sector 99 is marketed as ready but we could not confirm it as a tenanted, operating mall). These are portal-grade distances, so treat them as approximate and check them on the ground. And the buyer is not choosing this address in isolation: the same belt carries documented distress. HARERA revoked all five Mahira Homes affordable registrations, including Sectors 103 and 104, in 2024 for diverting buyers' money; Ramprastha's Edge Towers in Sector 37D is roughly thirteen years late; and even in Sector 99A itself, Pareena's Coban Residences drew a HARERA delay-compensation order. The corridor rewards due diligence and punishes trust.

The money

Rs 928 crore, and the one number that is not in the file

The cash-flow statement is filed and readable. The project's total estimated cost is Rs 927.73 crore, against filed fund availability of Rs 1,184.19 crore, a projected surplus. About Rs 100.27 crore had already been spent as at the date of the application, which is unusual for a fresh registration and consistent with a colony that has been under development since the last decade; the Aerosphere and Estate One files we read earlier showed near-zero prior spend. Two things in the cost split are worth a buyer's attention. Construction of the apartments is put at Rs 292.11 crore. And "other costs, including EDC, taxes and levies," is Rs 276.42 crore, nearly 30 per cent of the whole budget and almost as large as the build cost itself. That external-development and tax load is real money that a buyer ultimately funds.

The number that is not in the file is the price. No per-square-foot rate and no payment plan is in the public record, which is normal: Section 13 of the RERA Act caps the advance a promoter can take before a registered agreement for sale at 10 per cent of the cost of the apartment. What is in the market is channel-partner asking, and it is all over the place: roughly Rs 9,750 to Rs 13,000 per square foot on the current listings, with three-bedroom tickets quoted around Rs 2 crore and up, the quotes disagreeing by about a third between portals. For reference, the official Gurugram collector (circle) rate governing this belt for 2026-27 is in the region of Rs 6,000 per square foot for group housing in the Kadipur band, which is the floor for stamp-duty valuation, not the market price. The marquee Dwarka Expressway names nearby, Sobha City in Sector 108 and Whiteland's Westin Residences in Sector 103, are asked at roughly Rs 19,500 to Rs 27,000 per square foot, a distinctly higher tier. Read the asking prices as marketing, get the price and the construction-linked payment schedule in writing, and match every carpet figure to the stamped plan.

The builder

The lookout circular the brochure will not mention

This is where a buyer's decision should slow down, and where fairness cuts in both directions. ATS Homekraft is the mid-income arm of the ATS group, one of the older Noida developers, founded and led by Getamber Anand, a former national president of the developers' body CREDAI. Homekraft is backed by HDFC Capital, which is a genuine institutional signal: HDFC Capital's fund took a reported Rs 1,250 crore exit from the platform in November 2025 (Business Standard). None of what follows is an allegation Bedrock is making; it is the documented public record, and it is exactly what a broker will not raise.

On 13 September 2024, a Delhi court (Patiala House, Judicial Magistrate Yashdeep Chahal) declined to cancel a lookout circular against Getamber Anand and his wife Poonam Anand, promoters of ATS Infrastructure (ConstructionWorld, ANI, Devdiscourse, October 2024). The circular rests on multiple FIRs, including one by the Economic Offences Wing of the Delhi Police alleging the defrauding of homebuyers, and an Enforcement Directorate money-laundering matter; the magistrate held the circular necessary so that the process is "not frustrated." We state the limits plainly: the ED matter is an investigation, no ECIR or FIR numbers are public, and no money-laundering charge has been proven in court; "investigation" is not "conviction." Separately, the ED sought records in June 2024 on about Rs 3,400 crore of ATS land allotments from the Noida Authority, and the Authority served ATS Homes a Rs 2,746 crore dues notice over its Sector 152 Sports City land in November 2025, a matter in which the Allahabad High Court has ordered CBI and ED inquiries.

The delivery record is mixed, and the recent direction matters. Three ATS group companies were admitted to insolvency and, in every case, the process was later withdrawn after a settlement rather than ending in liquidation: Ananda Divine Developers (ATS Triumph land) in 2022; ATS Heights (the ATS Knightsbridge project in Noida), admitted April 2024 and withdrawn March 2026; and Nobility Estates (ATS Le Grandiose, Noida), admitted late 2023 and withdrawn around May 2026. On delays that reached an order, UP-RERA directed ATS Allure to pay delayed-possession interest (batch order July 2021; a further compensation order in October 2025); a Punjab RERA bench ordered a Rs 57 lakh refund on ATS Golf Meadows near Mohali in December 2025, which is outside NCR but is the same developer's record. The fair reading is that ATS has been through real financial distress and lender litigation, has been steering projects back on track through settlements, and is building Phase 2 inside a RERA escrow that legally ring-fences buyer money from the promoter's other troubles. All of that can be true at once. A buyer's job is to price it, not to ignore it.

The balance

What the file secures, and what it does not settle

Do it yourself

Five checks before you pay anything

Verdict

Who this is for, and who it is not

Grandstand Phase 2 is for a buyer who wants a mid-tier, escrow-protected apartment on the Dwarka Expressway at a price below the Sector 103 to 108 luxury names, who has read both phases and the promoter's record with open eyes, and who is comfortable buying on approvals that are promised within six months rather than already in hand. The HDFC Capital backing and the ring-fenced account are real mitigants, and the file itself is orderly.

It is not for a buyer who needs a near-term move-in (this is a 2031 completion, and the same brand's Phase 1 on this land is still not delivered), who is buying the "150 metres from the expressway" and "metro connectivity" pitch at face value, or who would not be able to sit through a possession slip if the ATS group's wider litigation turned. For everyone in between, the answer is the same one the file keeps giving: read the documents, price the risk, and put every promise in the agreement.

If you are evaluating a purchase in these markets, Akhut Estates advises buyers directly: akhut.in/contact.