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Wave Infratech Pvt Ltd, a part of Rs 2,500-crore industrial conglomerate Wave Inc (the erstwhile Chadha Group), has announced the commencement of the allotment of the first batch of applicants of its Wave Hi-Tech City, a high-tech township in Ghaziabad. The company will start making the initial allotments and is expected to be completed by April’11.

Speaking about the development, Manpreet Singh Chadha, CEO of Wave Infratech, said, “It is our pleasure to start the allotment of the first batch of applicants in Wave Hi-Tech City, which has caught the imagination of the public and investors since the day one of its launch. Wave Inc has always remained committed to quality and has set new benchmarks and standards in each and every field it has ventured into. Today Wave is a brand in itself and is also a name to reckon with in many fields, including real estate and property development. Wave Hi-Tech City is one of our ambitious projects which will be a living solution to middle and upper middle class people and also create wealth for them.”

The construction and development of the township is underway and its phase-I is expected to be completed by the middle of 2013. Wave Hi-Tech City, the Group’s self-sustainable integrated township, is among the largest integrated city development projects being developed in the NCR region. It will span more than 4,500 acres with all the modern infrastructure and lifestyle facilities.

The first Phase of the project will involve investments of approx. Rs 3,500 crore for developing 1,671 acres of land consisting of about 7,500 plots and is envisaged to be completed in 30 months.