Wave Group aims over Rs 500 crore revenue from new housing project in 4,200-acre Ghaziabad township

Realty steadfast Wave Group is expecting much than Rs 500 crore gross from a caller luxury lodging task successful its 4,200-acre township successful Ghaziabad, Uttar Pradesh.The institution has launched a caller task 'Eden', dispersed crossed 5.2 acres, Wave Group said successful a statement.

It has launched astir 250 apartments for sale. The institution is expecting income bookings worth of much than Rs 500 crore, according to spot consultants.

Last month, Wave Group had said it plans to motorboat astir 9,000 flats successful its 4,200-acre township 'Wave City' astatine Ghaziabad to monetise its immense onshore slope amid beardown lodging demand.

The radical plans to motorboat astir 7 cardinal quadrate feet successful the premium and affordable radical lodging categories successful Wave City successful the existent fiscal.

The concern to make a 7 cardinal quadrate feet country and imaginable income worth were not disclosed.

Wave Group has already developed much than one-third of the township dispersed implicit 4,200 acres successful the past 10 years by mode of plotted improvement and low-rise radical lodging complexes.

"We volition beryllium launching a 7 cardinal quadrate feet country comprising 8,000-9,000 apartments.

"The buyers' request for premium apartments successful the township has sharply accrued implicit the past 12 months. As a result, the terms successful the secondary marketplace jumped by astir 30 per cent successful the period," Rajiv Gupta, Managing Director of Wave City, had said.

The institution has besides sold immoderate plots to different builders.

According to spot brokers, the basal selling terms for premium residential projects successful Noida and Gurugram is upward of Rs 15,000 and 20,000 per quadrate ft, respectively, portion successful the Wave City, the complaint is beneath Rs 9,000 per quadrate ft.

Wave City is dispersed implicit 4,200 acres, with one-third dedicated to greenish areas and infrastructure development.

In this township, Wave Group has fixed possession letters to implicit 11,000 buyers of its residential and commercialized units. More than 4,000 families are surviving successful this township.