Wave to launch low-cost housing project, eyes Rs 100 crore sales

Published On: 01, Dec 2017 | Source: financialexpress.com

Realty firm Wave Infratech will launch a affordable housing project comprising 450 units at its township project in Ghaziabad with expected sales revenue of about Rs 100 crore. The starting price of an apartment, to be allotted through lucky draw, is Rs 16.6 lakh for 1 BHK, the company said in a statement. It will start accepting application from December 2, 2017 and closing date is January 15, 2018. The lucky draw is on January 26, 2018. The scheme ‘Wave City Grih Awas Yojna (WCGAY)’ in support of Pradhan Mantri Awas Yojna (PMAY) offers 450 units. Under this scheme, bookings can be done for 9 per cent and remaining to be paid at the time of possession with SBI Home Loans. Besides, under PMAY, interest subsidy up to Rs 2.6 lakh can also be availed by the beneficiary. Munish Mishra, Wave City Sales Head, said the company is committed towards fulfilling the government’s vision of Housing for All by 2022. The widening of NH-24 is progressing at a breakneck speed and the area is slowly gaining traction, he added. Wave Infratech is developing other realty projects in Noida, Ghaziabad and Mohali. Wave Group is also engaged in sugar, liquor and entertainment businesses.