New Delhi: In Budget 2013 the government has announced tax deductions up to Rs 2.5 lakh on a home loan of under Rs 25 lakh. This will definitely give a boost to low and mid income housing and the real estate market leaders have already come to see this. The Wave Group has announced such an affordable housing project on Wednesday. The Wave Group will invest Rs 500 crore in developing an integrated township in Ghaziabad with house cost varying between Rs 14 to 18 lakhs.The total area of the township will be 4,500 acre and in the first phase 3,500 flats will be built. 25 acre of land has been marked for the affordable housing section. The sizes of flats will vary between 575 to 800 sq. ft. The first phase will be completed within 3 to 4 years. The project will be developed by the Wave’s real estate firm is Wave Infratech. Most of the funds for the investments will be supplied by bank debts and internal accruals.At present Wave Infratech has been able to acquire 3,200 acre of the total 4,500 acre land required for the integrated township project.Wave is a brand under the Chadha Group whose owner Ponty Chadha was killed in a shootout involving his brother and a feud over property. After the incident Chadha Group definitely received a hit and Wave was also affected. But according to Wave Group’s new Managing Director Rajendrakumar Panpalia, sales were affected only for a week after the death of Chadha after which it went back to normal. “The company is being run professionally and construction at all our projects are undergoing,” he said.The group is also engaged in liquor, multiplex, sugar and cinema distribution businesses. Beside the Ghaziabad township, Wave Infratech is engaged in developing a 152 acre project on a Rs 6,500 crore land it won through an auction in Noida. It also has ongoing project in Mohali.займ на карту без отказов круглосуточновзять кредит онлайн