Wave Infratech, the real estate arm of Wave Group, plans to invest Rs 4,000 crore to develop the first phase of the 152-acre township at Noida. The first phase, which is expected to be completed by January 2016, envisages around 1,400 housing units, 900 studio apartments, 370 high street shop condominiums, two hotels comprising 400 rooms, a shopping mall covering two million square feet of area and 1.8 million square feet of office area. The project will be financed through internal accruals, bank loans, customer advances and a PE funding.
The company, had last year, acquired the 152-acre Noida land in an open auction for Rs 6,500 crore wherein it outbid developers Amrapali and The 3C Company
Source: http://www.projectsmonitor.com/REALEST/wave-infratech-to-invest-rs-4kcr-in-noida-township
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