Wave Group to Launch 9,000 Flats in Ghaziabad's Wave City Amid Surging Demand

Realty firm Wave Group plans to launch around 9,000 flats in its 4,200-acre township 'Wave City' in Ghaziabad to capitalize on the rising housing demand. The project will cover about 7 million square feet in both premium and affordable housing categories by March 2025. The company has developed a third of the township over the last decade. The basic selling price in Wave City is significantly lower compared to Noida and Gurugram.

Realty firm Wave Group is set to launch approximately 9,000 flats within its expansive 4,200-acre township 'Wave City' in Ghaziabad, aiming to capitalize on a strong demand for housing.

In an official statement, Wave Group revealed plans to develop around 7 million square feet in both premium and affordable group housing by the end of the current fiscal year in March 2025. The financial specifics of the investment and potential sales value remain undisclosed.

Over the past decade, Wave Group has developed more than a third of the township, primarily through plotted development and low-rise group housing complexes. Rajiv Gupta, Managing Director of Wave City, noted the significant rise in demand for premium apartments over the past year, leading to a nearly 30% increase in secondary market prices. The company has also sold plots to other builders, bolstered by the township's world-class infrastructure and amenities. Currently, more than 4,000 families reside in Wave City, and possession letters have been handed to over 11,000 buyers.

(With inputs from agencies.)