DELHI: WAVE City, a 4,500 acres integrated township under the flagship of WAVE Infratech has roped in The State Bank of India to fund its projects.
The bank would be financing Wave City projects post its due diligence of customers. State Bank of India (SBI) is a transnational banking and financial services company and is a government-owned corporation.
It the seventh bank to fund Wave City projects, currently, HDFC, ICICI, AXIS, Bank Of India, India Bulls and DHFL are providing housing loans for Wave City Projects.
Wave City had recently launched its first affordable housing project ‘Dream Homes’ which received overwhelming response from customers.
This new announcement would help in providing economical and tension free housing loans at Wave City, NH 24, Ghaziabad.
“We are extremely happy to have SBI in our panel of bankers providing housing loans to our esteemed customers at Wave City. We are sure that this tie up would be extremely beneficial to all our customers,” Sunil Tandon, President, Wave City said.
This approval would enable the Wave City customers who have booked a flat/floor/plot in the project to apply for a loan to State Bank of India. The loan would be disbursed to the eligible applicants under the construction linked plan.
“With reference to your request for approval of above tie-up (tie-up arrangement, Wave City) under construction link plan, we are pleased to inform you that we have approved the tie-up arrangement for the aforesaid project subject to the terms and conditions” SBI said in its approval letter.
Wave City is a 4,500-acre township at NH 24, Ghaziabad and is just 30 minutes from Delhi and 10 minutes from Noida on NH-24. The first phase of 1671 acres of the project is expected to be delivered by 2016.
Wave City has also roped in IBM to build India’s most exciting smart city in Ghaziabad.
Wave City would be having a Bus rapid Transport (BRT) corridor running throughout the township, which will facilitate easy and congestion free travelling for its habitants. This project is designed by world-renowned city planners, Bentel Associates from South Africa and AECOM, USA. Wave has also tied up with renowned chain of academic institutions like K R Mangalam, Sushila Devi Chabildas etc. Its inhabitants would also have access to a Gurudwara and an ISKCON spiritual center within the township.
The well renowned Genesis Global School is also all ready to setup its first fully modern Genesis medical college cum hospital and a school at Wave City.