Bangalore: Entrepreneur Jaithirth Rao’s affordable housing venture Value Budget Housing Corp. Pvt. Ltd (VBHC) has launched its first project in northern India—in Bhiwadi, Rajasthan—after having set up its first three projects in Bangalore, Chennai and Mumbai.
In an interesting strategic turn, the new project, situated on 22.5 acres, will have a township consisting of affordable apartments and also offer plots for sale—a first for the company.
Developers opt for sale of plots, particularly in the National Capital Region (NCR), because of the quicker turnaround time for plotted developments, which are also easier to sell.
The project will offer two bedroom apartments and plots in various sizes, under 120 square yards and more than 150 square yards.
Bookings for the plots have begun, and the apartments will be launched within the next month, the company said in a statement on Friday.
The National Capital Region, Bangalore and Mumbai are the three key markets for VBHC, which may launch some projects in other cities too, said Rao.
VBHC co-founder P.S. Jayakumar said the company was planning two more projects in Bhiwadi.
“New jobs are being created there and industries are also being set up, leading to increase in demand,” said Jayakumar.