Real estate firm Wadhwa group is eyeing Rs 4,000 crore revenue from the first phase of its 450-acre integrated township project in Panvel, Navi Mumbai, a top company official said.
The first phase of the project named 'Wise City', being developed on 138 acres under the Pradhan Mantri Awas Yojna (PMAY), will house 23 residential towers offering a total of 10,000 affordable homes, along with commercial and social infrastructure developments.
Navin Makhija, managing director, Wadhwa group, said the first phase is expected to be completed in the next seven to eight years.
"We currently have started work on the initial phase of this project where we will be creating 5,500 units, which will be completed in the next three to four years," he said, adding, "We are expecting Rs 4,000 crore revenues once this entire project on the 138 acres is completed."