Realty developer Wadhwa Group has set aside ₹2,200 crore for the first two phases of its integrated township project Wadhwa Wise City spread across 450 acres in Panvel near Mumbai. GFH, a Bahrain-based financial investment group will jointly develop the township in Navi Mumbai Airport Influence Notified Area (NAINA). The company is planning to develop the entire project in five phases entailing a total investment of ₹6,000 crore, in 10-12 years. The developer has targeted revenues of ₹3,200 crore. Out of the total land holding, Wadhwa will develop 138 acres comprising 10 million sq ft of overall development, and has launched a apartment and bungalow project of over 40 acres in the second phase. It has sold 1,500 units in the first phase. The mega project will also house IT parks, retail malls, hospitals and schools.
📅Published on:
21 June 2019
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