Although tremendous research has conducted on high speed communications but still number of research works which are reported in literature are fails to meet the real time requirement. The main drawbacks in the conventional communication techniques are low spectral efficiency, lack of high rate, interferences, etc. The OFDM communication model overcomes the drawbacks of conventional communicational model and offers the high data rate, and high spectral efficiency. Compared to conventional approaches the 4th generation Long term evolution application has better spectral efficiency in terms of accuracy and high data rate, the 4th generation Long term evolution approach is formed by the collaboration of OFDM and MIMO. Although OFDM has many advantages over FDM but it suffers from inter carrier interference and inter symbol interference when multiple carriers are used and due to this interferences loss of Orthogonality happens, in order to overcome these interferences usage of cyclic prefix has became mandatory. But usage of cyclic prefix shows huge negative impact on bandwidth efficiency as the cyclic prefix approach consumes nearly 20% of bandwidth and BER performance too affected. In this paper a novel wavelet based OFDM model is presented which is mainly intended to provide good Orthogonality and better spectral efficiency using various modulation techniques, the unique thing in the usage of wavelet based OFDM is it does not need any spectral efficiency and absence of the cyclic prefix increases bandwidth efficiency when bandwidth increases simultaneously spectral efficiency increases.  Finally the usage of the wavelet based OFDM shows improved BER over conventional FDM communication model. The simulation results indicates the usage of wavelet based OFDM in place of DWT based OFDM in LTE and finally the comparison between wavelet based OFDM and DFT based OFDM