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Wadhwa Group to infuse Rs 2,200 crore in Wadhwa Wise City

Thursday, 13 Jun 2019
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The Wadhwa Group, a real estate development company, is planning to make  investment to the tune of Rs 2,200 crore in the first two phases of Wadhwa Wise City.

The estimated revenues from these phases of the first integrated township project in Navi Mumbai Airport Influence Notified Area (NAINA) at Panvel will be Rs 3,200 crore.

The total land holding is over 450 acre and the company is planning to develop 138 acre of land which comprises 10 million sq ft of overall development.

Wadhwa and GFH, a Bahrain-based financial investment Group, are jointly developing the township and have launched apartment and bungalow projects of over 40 acre.

The project is planned in different phases and will be completed in around five to seven years. It will comprise IT parks, mall, market, hospitals, school, among others.

Phase-I of Wadhwa Wise City was an initiative to support the Government's mission to provide quality affordable housing, whereas Phase-II will focus on independent living in a township.
 
The company has also tied up with Father Agnel School for education. The school will start operations by mid-2022 where primary sections will start first, and others will be added gradually year on year.

The Wadhwa Group is also developing 40 acre of land under greens, such as parks, playgrounds, and 14 acre for offices, IT parks, etc.

 

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