Wave Group Plans to Sell Land in Ghaziabad Township

                Realty developer Wave group is diluting part of 
its land bank in Wave City in Ghaziabad and 
has sold land to at least half a dozen builder in 
order to improve cash flow. It is also in talks 
with more developers to sell land. The 
combined areas these real estate developers 
will develop will be around 12 million square 
feet in the next few years.
Wave group is also planning to launch its 
project in the same township. "The buyers' 
demand for premium apartments in the 
township has sharply increased over the last 
12 months. As a 
result, the price in the secondary market 
jumped by almost 30% in the period,” said Rajiv 
Gupta, managing director of Wave City.
Wave Group has planned to launch around 
seven million square feet in the combination of 
premium and affordable categories. Gaurs 
group recently launched three-million-square-
foot 
luxury residential complex in the township with 
1,216 flats last week, which had already been 
sold for a total value of Rs 3,100 crore. The 
base price for premium residential projects in 
Noida and Gurgaon is upward of Rs 15,000 and 
20,000 per square ft, respectively, while in 
Wave City, it is below Rs 9,000 per square ft. 
This smart city is adjacent to NH-24 and spans 
over 4,200 acres, with one-third dedicated to 
green areas and infrastructure development.

Source : Reality Magazine