Wave City Centre Land Dispute Ends After a Decade in Noida, paving the way for large-scale real estate development in one of the city’s most strategically located zones. The breakthrough comes after the Noida Authority and the Uttar Pradesh government approved a land surrender and settlement plan under the Project Settlement Policy (PSP).
In 2011, the Noida Authority had allotted nearly 6.2 lakh square meters (approx. 153 acres) of prime land in Sectors 25A and 32 to Wave Mega City Centre Pvt. Ltd., a subsidiary of the Wave Group. The project was envisioned as a high-end mixed-use commercial and entertainment hub, featuring retail zones, offices, hotels, and residences.
However, over time, the project became mired in financial stress, regulatory hurdles, and payment defaults. In February 2021, the Noida Authority cancelled part of Wave’s lease—around 1.08 lakh sqm—and took possession of the land, citing non-payment of dues. The case escalated into a prolonged legal and administrative tussle between the developer and the authority.
Settlement Under PSP: How the Dispute Was Resolved
In a major breakthrough, the Uttar Pradesh government recently approved the final settlement under the Project Settlement Policy, designed to resolve long-pending disputes between developers and authorities.
As part of the agreement:
- Wave Mega City Centre Pvt. Ltd. will retain approximately 1.2 lakh sqm of land.
- Around 5.02 lakh sqm will be surrendered back to the Noida Authority.
- A small reallocation of 10,547 sqm was approved earlier this year for project restructuring.
An independent audit confirmed that Wave had deposited nearly ₹1,469 crore, including interest and penalties, with ₹1,156 crore considered valid after adjustments. The settlement deed—approved by the Noida Authority board in September 2025—allows the developer to maintain ownership of areas where construction is already complete, approximately 56,400 sqm, primarily commercial and retail blocks.
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Redevelopment Plans for the Surrendered Land
The surrendered land—situated at the heart of Noida’s commercial corridor—is now set for redevelopment. According to officials, this vast stretch will be repurposed for commercial, mixed-use, and civic infrastructure projects, unlocking new investment potential in the region.
The Noida Authority plans to re-integrate the area with the existing City Centre infrastructure, including metro connectivity and arterial roads linking Sectors 18, 32, and the Noida-Greater Noida Expressway.
Authority officials stated that until Wave clears all remaining dues and conditions under PSP, no third-party rights can be created on the surrendered portions. The payments will be routed through an escrow account to ensure transparency.
Legal and Administrative Timeline
| Year | Key Development |
|---|---|
| 2011 | Noida Authority allots 6.2 lakh sqm to Wave Mega City Centre Pvt. Ltd. |
| 2017 | Developer applies under the Project Settlement Policy for partial surrender. |
| Feb 2021 | Lease of 1.08 lakh sqm cancelled by Noida Authority for payment default. |
| Mar 2021 | Wave moves NCLT for voluntary resolution to protect buyer interests. |
| Aug 2024 | UP Government reverses 2021 cancellation, restoring lease under revised terms. |
| Jan 2025 | 10,547 sqm reallocated to Wave for adjusted project plan. |
| Sept 2025 | Final settlement approved; land surrender deed executed. |
Officials from the Noida Authority described the settlement as a landmark step towards clearing the city’s long-pending real estate disputes. Under the Project Settlement Policy, developers can voluntarily surrender unviable land in exchange for relief from penalties and restructured payment terms.
“This settlement frees over 5 lakh square meters of high-value urban land, which can now be redeveloped to generate revenue, employment, and investment,” a senior Noida Authority officer told H4ENEWS. “It also restores confidence in stalled projects that have been in limbo for years.”
Impact on Investors and Homebuyers
The decision is expected to provide relief to hundreds of investors and homebuyers who had invested in the Wave City Centre project more than a decade ago. With lease rights restored and legal clarity achieved, the developer can now proceed with construction and delivery of the viable portion.
While the Wave Group has not released a detailed statement, internal sources indicate that the company views the settlement as a positive step. “We have cooperated fully with the authorities and remain committed to completing the remaining portions of the project,” a representative reportedly said.
Industry observers note that the developer’s compliance under the PSP framework could set a precedent for other large land-holding developers facing similar legacy issues in NCR.
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The settlement aligns with Noida Authority’s wider efforts to unlock stalled land banks and promote planned urban renewal. In 2025, the authority also approved a redevelopment policy inspired by Mumbai’s urban model, aimed at rejuvenating underutilized and disputed sites through public-private partnerships.
With the Wave City Centre case now resolved, officials expect fresh real estate investments to flow into central Noida—potentially transforming the city’s core landscape over the next five years.
