Wave Group is targeting over Rs 500 crore from a new housing project in Ghaziabad township spread over 4,200 acres.

Realty firm Wave Group is expecting more than Rs 500 crore from a new luxury housing project in its 4,200-acre township in Ghaziabad, Uttar Pradesh. statement.

It has launched about 250 apartments for sale. The company expects a commercial booking value of over Rs 500 crore, according to real estate consultants.

Last month, Wave Group said it plans to launch up to 9,000 apartments in its 4,200-acre ‘Wave City’ township in Ghaziabad to cash in on its global bank amid strong demand for housing.

The group plans to launch approximately 7 million square feet of affordable and affordable group housing units at Wave City in the current fiscal year.

The development investment is 7 million square meters and the sale price may be disclosed.

The Wave Group has already developed more than one-third of the 4,200-hectare township over the past 10 years in the form of planned development and low-rise group housing.

“We will present a 7 million square feet area with 8,000-9,000 apartments.

“Consumer demand for prime homes in the township has increased significantly over the past 12 months. As a result, the price in the secondary market has dropped by nearly 30 percent during that time,” Rajiv Gupta, Managing Director of Wave City, had said.

The company has sold the plots to other developers.

According to realtors, the basic selling price of premium residential projects in Noida and Gurugram is above Rs 15,000 and 20,000 per sq ft, respectively, while in Wave City, the rate is below Rs 9,000 per sq ft.

Wave City is spread over 4,200 hectares, with one-third dedicated to green spaces and infrastructure development.

In this township, Wave Group has provided title deeds to more than 11,000 buyers of its residential and commercial properties. More than 4,000 families live in this township.