Wave group to dilute land bank in Ghaziabad’s township

23 Sep 2024 CW Team

Realty developer Wave group is diluting part of its land bank in Wave City in Ghaziabad and has sold land to at least half a dozen builder in order to improve cash flow. It is also in talks with more developers to sell land. The combined areas these real estate developers will develop will be around 12 million sq ft in the next few years. Wave group is also planning to launch its project in the same township.

"The buyers' demand for premium apartments in the township has sharply increased over the last 12 months. As a result, the price in the secondary market jumped by almost 30% in the period,” said Rajiv Gupta, managing director of Wave City. Wave Group has planned to launch around seven million square feet in the combination of premium and affordable categories.

Gaurs group recently launched three-million-square-foot luxury residential complex in the township with 1,216 flats last week, which had already been sold for a total value of Rs 31 billion.

The base price for premium residential projects in Noida and Gurgaon is upward of Rs 15,000 and 20,000 per square ft, respectively, while in Wave City, it is below Rs 9,000 per square ft. This smart city is adjacent to NH-24 and spans over 4,200 acres, with one-third dedicated to green areas and infrastructure development.

Wave Group has given possession letters to over 11,000 buyers of its residential and commercial units. More than 4000 families are living in the township.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..