Wave Group Targets Rs 500 Crore Revenue with 'Eden' Project

Wave Group is aiming for over Rs 500 crore revenue with its new luxury housing project 'Eden' in Ghaziabad. Spanning 5.2 acres, the project includes 250 apartments for sale. With plans to monetize a large land bank, the group intends to launch 9,000 flats in Wave City.

Wave Group has set ambitious revenue targets, aiming for over Rs 500 crore from its newly launched luxury project 'Eden' in Ghaziabad. The company announced that 'Eden', spread across 5.2 acres, will feature 250 luxury apartments, tapping into the strong housing demand in the region.

Last month, the group revealed plans to launch 9,000 flats in its expansive Wave City township, seeking to monetize its 4,200-acre land bank. This strategic move comes as housing demand continues to surge, prompting the group to offer both premium and affordable housing options amounting to 7 million square feet this fiscal year.

Wave City, already one-third developed with plotted developments and low-rise housing, has become a thriving community with over 4,000 families. Managing Director Rajiv Gupta notes a marked increase in demand for premium apartments, with prices in the secondary market jumping by 30% over the past year.

(With inputs from agencies.)