New Delhi: Realty firm County Group will invest Rs 1,800 crore to develop a housing project in Ghaziabad as part of its expansion plan.
The company has launched new project 'Jade County', which is spread over 13.33 acres, comprising around 1,000 units.
In a statement on Wednesday, County Group said that it has bought this land parcel in Wave Group's large township 'Wave City' for Rs 400 crore.
The total saleable area in this project will be 30 lakh square feet. The "total investment outlay will be Rs 1,800 crore", it added.
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Amit Modi, Director at County Group, said the project is strategically located in Wave City along the NH24 corridor.
"With swift connectivity to Delhi, Noida, and Greater Noida, and backed by infrastructure upgrades like the Delhi-Meerut Expressway and Hindon Airport, the region is fast becoming a preferred destination for premium living," he said.
County Group has delivered nearly 18 million sq ft of real estate space across various projects in Delhi-NCR. It is currently developing many projects.
Wave Group has already developed more than one-third of the 4,200-acre township in the last 10 years by way of plotted development and low-rise group housing complexes.
Many developers have bought land in Wave City township to develop this project.
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