Representative Image Realty Developer Wave group is weakening part of its land bank Wave City In Ghaziabad And has sold land to at least half a dozen builders to improve cash flow.
She is also in talks with other developers to sell the land.
The combined area to be developed by these real estate developers in the next few years will be around 12 million square feet.
Wave Group is also planning to start its project in this township.
Rajiv Gupta, managing director, Wave City, said, “There has been a sharp rise in buyer demand for premium apartments in the township over the past 12 months. As a result, prices in the secondary market have appreciated by around 30% during this period.”
Wave Group plans to launch around seven million sq ft across a mix of premium and affordable categories.
The Gaurs Group recently launched a 30 lakh sq ft luxury residential complex with 1,216 flats in the township last week, which has already been sold for a total price of Rs 3,100 crore.
The base price for premium residential projects in Noida and Gurgaon is over Rs 15,000 and Rs 20,000 per sq ft, respectively, while in Wave City it is less than Rs 9,000 per sq ft.
This smart city is located along NH-24 and is spread over 4,200 acres, a third of which is dedicated to green areas. infrastructure development,
Wave Group has given possession letters to more than 11,000 buyers of its residential and commercial units. More than 4000 families are living in the township.
