County Group acquires 13.3-acre land in Wave City NH24, Ghaziabad for ₹400 crores
County group
has acquired 13.3-acre land in
Wave City NH24
in
Ghaziabad
for around Rs 400 crore, according to people familiar with the development.
The smart city by Wave group is adjacent to NH-24 and spans over 4,200 acres and the firm had earlier sold land parcels to realty developers to raise fund.
The company plans to develop 1,000 residential units across four apartment sizes, with total area spreading over 3 million square feet.
'Buyers are keen to invest on the projects by the developer since previous projects by the developer have consistently yielded significant returns for investors, with many reporting a 3x to 4x appreciation on their initial investments. Also, Wave City NH24 has emerged as a rapidly growing residential hub, and is benefited by infrastructure and connectivity to Delhi and other NCR regions,' said Sachin Arora, founder of Moneytree Realty.
The location is also benefited by the operationalization of the
Hindon Airport
for commercial flights and with the upcoming
Jewar International Airport
, the property price will grow further.
Jewar Airport, once operational, is expected to handle millions of passengers annually, further boosting economic activity and attracting investment in the region.
County Group has delivered over 4 million sq ft across three housing projects in 2024, overcoming the challenges faced during Covid.
The region where majority of the projects are stuck and buyers are waiting for delivery for over a decade, has seen very few delivered projects since Covid.
The three major projects delivered by County group are Coco County, a 12.21 lakh sq. ft premium project located in Sector -10 Greater Noida (West), Ivy County, a 14.74 lakh sq. ft luxury project located in Sector 75 Noida, and County 107, 14.78 lakh sq. ft project which is also Noida First Ultra-Luxury project located in posh Sector 107 in Noida.
Wave group has so far sold land to at least half a dozen builder in order to improve cash flow.
The combined areas these real estate developers will develop will be around 15 million square feet in the next few years.
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