LUCKNOW/NEW DELHI: Wave City, a 4,500 acres integrated township being developed by Wave Infratech has roped in State Bank of India to fund its projects.
The bank would be financing Wave City projects post due diligence of customers, according to a statement released by the company.
Wave City is being developed at NH 24 in Ghaziabad, and is dubbed as one of the biggest such township coming up anywhere in the country. Wave City had recently launched its first affordable housing project 'Dream Homes'.
"We are extremely happy to have SBI in our panel of bankers providing hassle free housing loans to our customers at Wave City" Sunil Tandon, President, Wave City said. According to the agreement, loans would be disbursed under the construction linked plan.
Tandon said that company has similar tie ups with six other banks including HDFC, ICICI, AXIS BankBSE 2.11 % etc.
Wave City had earlier tied up with IBM to build India's most exciting smart city in Ghaziabad. Of the 4,500 acres township, delivery of the first phase of 1,671 acres would begin in 2016.