New Delhi: In what seems to be a growing proximity between the Samajwadi Party government in Uttar Pradesh and businessman Ponty Chadha. The Noida Authority has cleared the masterplan for the 152-acre 'Wave City Centre'.
This land was won by Wave Infratech, owned by Ponty Chadha during the Mayawati regime. Ponty Chadha was believed to be extremely close to Mayawati.
The Uttar Pradesh administration under the SP regime had initially raised objections to this project. Wave Infratech will now invest Rs 10,000 crore in developing Phase I by 2016.