Wave Group to Launch 9,000 Flats in Wave City, Ghaziabad Amid Strong Housing Demand
Wave Group plans to launch 7 million square feet of premium and affordable housing in Wave City, Ghaziabad, with 8,000-9,000 apartments.
Wave GroupWave CityGhaziabadReal EstateHousing DemandReal Estate NewsSep 20, 2024
Wave Group has been developing Wave City over the past 10 years, with over one-third of the township already developed through plotted development and low-rise group housing complexes. The company has now decided to launch a 7 million square feet area, comprising 8,000-9,000 apartments, in the premium and affordable group housing categories.
The investment to develop this area and the potential sales value have not been disclosed. However, the company has seen a significant increase in demand for premium apartments in the township, with prices in the secondary market jumping by almost 30% over the last 12 months.
According to Rajiv Gupta, Managing Director of Wave City, the buyers' demand for premium apartments has sharply increased, making it an attractive destination for developers and homebuyers. The company has provided world-class infrastructure and amenities in the township, which has contributed to its popularity.
Wave City is spread over 4,200 acres, with one-third dedicated to green areas and infrastructure development. The township has already given possession letters to over 11,000 buyers of its residential and commercial units, with more than 4,000 families living in the township.
The basic selling price for premium residential projects in Noida and Gurugram is upward of Rs 15,000 and 20,000 per square ft, respectively. However, in Wave City, the rate is below Rs 9,000 per square ft, making it an attractive option for homebuyers.
Wave Group has also sold some plots to other builders, who are expected to develop their own projects in the township.
Wave Group is a leading real estate developer in India, with a presence in various sectors, including residential, commercial, and retail. The company has developed several iconic projects across the country and is known for its commitment to quality and customer satisfaction.
Wave Group is a renowned real estate developer in India, with a rich history of delivering world-class projects. The company has a strong presence in the real estate sector and is committed to providing its customers with the best possible experience.
Frequently Asked Questions
What is the total area of Wave City?
Wave City is spread over 4,200 acres.
How many flats is Wave Group planning to launch in Wave City?
Wave Group is planning to launch around 9,000 flats in Wave City.
What is the basic selling price of premium residential projects in Wave City?
The basic selling price of premium residential projects in Wave City is below Rs 9,000 per square ft.
How many families are currently living in Wave City?
More than 4,000 families are currently living in Wave City.
What is the expected investment to develop the 7 million square feet area in Wave City?
The investment to develop the 7 million square feet area in Wave City has not been disclosed.
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