Six affordable housing projects will be launched by VBHC
The Value & Budget Housing Corporation (VBHC) has planned to launch six budget housing projects in the country by the end of this year.
The group has planned to construct two residential projects in Mumbai, two projects in Delhi and one project in Bangalore and one in Chennai.
The first project in Bangalore by the group has achieved a huge success. In the residential project in Bangalore, VBHC has already sold 2000 units till date.
The company is looking at getting funds from private equity investors at the project and company level. Housing finance major HDFC and The Carlyle Group are the two main investors in the company.
Including all the projects VBHC will be constructing 500 units. VBHC had launched and sold the apartments in Bangalore, in the range of 350-640 sq ft and priced these in the range of Rs 4.5-10 lakh.
VBHC had a target of a million homes in the next 10 years.
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Source: Business Standard
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