The Wave Group will invest Rs. 500 crore to build an affordable low cost housing project in Ghaziabad constructing flats falling under the price range of Rs. 14-18 Lakh.
Wave Infratech, the reality firm of the Wave Group, will be developing in the project’s first phase around 3,500 flats, which will be a part of the integrated township to be built in an area of 4,500 acre.
Rajendrakumar Panpalia, Managing Director Wave Group, said that the company is entering into low cost housing segment in Ghaziabad so that their new integrated township is developed in a balanced way. 3,500 flats will be developed in the first phase and their price range will be between Rs.14-18 lakh, He added.
The size of the flats will vary from 575-800 sq. feet and the first phase of the project will be finished by the next few years.