Value & Budget Housing Corporation (VBHC), co-founded by former MphasiS chairman Jaithirth (Jerry) Rao and former Citibank Consumer Banking Head P S Jayakumar, has announced a Rs 300 crore expansion plan.
The company plans to launch nine budget home projects across Bangalore, Mumbai, Chennai, NCR and Baroda and will offer 2,500 units in all. The expansion comes not long after the company announced the launch of the second phase of its maiden project on the outskirts of Bangalore.
Vaibhava Phase II encompasses development of a little over 1 million square feet of real estate containing 13 towers and 31 blocks.
The project will offer 1,462 residences in a configuration of Studio, 1 and 2-BHK and 3-BHK, varying in sizes from 351 sq ft. to 1,002 sq ft with a price range between Rs 7.72 lakh and Rs 22.24 lakh.
VBHC’s maiden project, was initially conceived as a development project over 16.1 acres of land.
Due to the overwhelming positive response, its now continuing further development on an additional 3.75 acres of contiguous land, which has been purchased recently.