Wave Infratech to develop 152 acre township in Noida

Wave Infratech, the realty arm of Wave Group has announced the launch of Wave City Center, a world-class mixed use integrated township project spread over 152 acre in Sector 25 & 32 in Noida. The first phase of this self-contained township will be developed over 50 acre at a cost of Rs 4,000 crore funded through internal accruals, customer advances, debt and equity. This initial phase of 9.5 million sq ft out of a total of 40 million sq ft, slated for delivery in 2016, will comprise 1,400 residential units, 900 fully loaded studio apartments,370 high street shop condos, 2 million sq ft of mall space out of which 5 lakh sq ft has been already leased, two hotels with 400 rooms,1.8 million sq ft of office development and 4 lakh sq ft of dedicated Family Entertainment including Cinema, Indoor Snow Park, Water Park and Theme Park. While mall will be totally on lease, service apartments will be for sale. The USP of Wave City Center is its innovative smart living concept for which the company has tied up with IBM. It will be achieved by introducing features like putting piped gas and water meters on GPRS and through private internal transport system aimed at minimising the need for private vehicles. This one of the largest green integrated commercial destinations, will be built to LEED Gold standards in partnership with world's finest architect, design and engineering firms like SOM, IMXD, FORREC, AECOM, ARUP and NOSTRI. Says Manpreet Singh Chadha, joint managing director, Wave Group, "We are set to redefine opulence and luxury by offering the best in design and quality for the discerning customers who want avant garde lifestyle.The idea is to take the urban development to the next level." This ambitious project, according to Chadha, will take 12- 13 years to complete and is expected to be fully operational by 2025. The company which is currently doing projects in Noida, Ghaziabad and Mohali will essentially focus on Delhi-NCR, a major economic driver though Chadha says that the company is open to looking at any new destination which offers better economic and business proposition.

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=19342&cat_id=1