Chandigarh/Mohali, Jan 14 (IANS): After 100 per cent sale out of Dream Homes at Wave City in Ghaziabad, Wave Infratech on Monday said it has invested Rs 200 crore to bring the same economical housing under Wave Estate for the real estate market of Punjab.

"Posed picturesquely at the foothills of the Shivalik Range, Wave Estate is a distinguished address located advantageously at the heart of Mohali in Sectors 85 and 99," the real estate company said in a statement.

The project is spread across an area of about seven acres with a total of 1,000 units, with 300 units in Phase 1 of its development.

Despite the real estate sector facing a rough weather, construction at Wave Estate has been at a fast pace with the company recently acquiring the completion certificate for partial development of 171 acre out of its 255 acre project.

It also got Completion and Occupancy Certificate for built up area of about 300 units for G+2 Floors. Possession has been offered to customers and over 70 families are residing in Wave Estate, the company said.

"With our investment of Rs 200 crore in affordable housing segment, we aim to cater to the popular demand of our customers in this segment. With the construction on full swing, Wave Estate stands by its commitment," Wave Estate Director H.S. Kandhari.

Further, Wave Estate inaugurated a super-mart, named 'Freshly Yours', spread over about 140 square yards area within its premises.

The residents can buy from a wide variety of product categories like fruits and vegetables, food-grains, eggs and frozen meat, household items, beverages, stationary, bakery and dairy.

Wave Infratech CEO Rajiv Gupta said: "We at Wave Infratech constantly strive to innovate and develop exceptional products and services for our key stakeholders, our customers... Our projects adhere to RERA compliance and would deliver as per its timelines."

Wave Estate, a fully gated community, houses collection of villas, plots, floors and plush housing condominiums in a safe environment, with boundary walls in each sector and an operational clubhouse with facilities like library, gym, yoga and aerobics room.

Strategically located close to Chandigarh, Mohali offers the highest quality of life and design system with streamlined planning and architecture. The region is targeted by an increasing number of outsourcing IT companies and the telecom industry.