Relief is in sight for nearly 3,000 allottees who have waited over a decade for their plots in the Wave City project along NH9.
As reported by the Times of India, the Ghaziabad Development Authority (GDA) is set to approve Wave City’s project report (DPR) for 4,000 acres after it faced multiple rejections since 2021 over an unpaid Rs 401 crore land conversion cost.
Wave City was launched in 2009-10 under the state’s hi-tech township policy, promising tech-integrated homes and expansive green spaces. The project initially aimed to develop 4,312 acres but was downsized to 4,196 acres due to land acquisition issues, particularly involving areas designated as ‘Lal Dora.’
‘Lal Dora’ areas, delineated during British rule in 1908, are lands exempt from regular building bylaws and municipal regulations and are intended for agricultural purposes. These areas often present ownership challenges, complicating property transactions and access to financial services.
In 2017, a Comptroller and Auditor General (CAG) audit flagged the non-recovery of nearly Rs 401 crore in land conversion charges from the developer, Utpal Chadha Hi-Tech Developers Pvt. Ltd. This resulted in the project’s stalling and affected approximately 3,000 allottees.
In 2023, a high-powered committee led by the chief secretary emphasized the paramount importance of homebuyers’ interests. The committee directed the GDA to approve the revised DPR, provided the developer mortgaged land and properties worth approximately Rs 400 crore with the GDA.
The GDA board is scheduled to meet on Aug. 5 to approve the DPR. Once approved, the developer may take an additional six months to develop the land and hand it over to the allottees. This approval will also allow another 5,000 allottees, who have possession of their plots, to register their properties.
Impact on Homebuyers
Approval of the DPR will significantly impact nearly 5,000 allottees awaiting plot registration and another 3,000 waiting to take possession. These families will finally be able to build their dream homes after a decade-long wait.
Prabhakar Mishra, an allottee who invested in the scheme in 2009, expressed his frustration, “Imagine investing your hard-earned money in a dream house but not being able to build it. Our plots have been stuck for 15 years because the property could not be registered. We are hoping that the GDA will not delay the project further and give its nod to the layout to make way for the registration of hundreds of allottees in the township.”
Wave Group has already developed 50% of the land and handed over plots to nearly 5,000 families. The remaining part, set to be developed following DPR approval, will bring significant development to the region, boosting the local economy and infrastructure.