In this paper, the wave propagation in generalized thermo elastic plate immersed in fluid is studied based on the Lord-Shulman (LS) and Green-Lindsay (GL) generalized two dimensional theory of thermo elasticity. Two displacement potential functions are introduced to uncouple the equations of motion. The frequency equations that include the interaction between the plate and fluid are obtained by the perfect-slip boundary conditions using the Bessel function solutions. The numerical calculations are carried out for the material Zinc and the computed non-dimensional frequency, phase velocity and attenuation coefficient are plotted as the dispersion curves for the plate with thermally insulated and isothermal boundaries. The wave characteristics are found to be more stable and realistic in the presence of thermal relaxation times and the fluid interaction.