Value and Budget Housing Corporation (VBHC) has launched its first project in Bengalore —

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Vaibhava. The project will offer apartments with a price between Rs 4.5 lakh and Rs 10 lakh.

The project, located on Chan­dapura-Anekal road, will comprise 1,900 flats which will be built in 3 phases across 16.1 acres.

At Vaibhava, VBHC claims it is deploying advanced construction methods that will ensure high quality while keeping costs under control. The company believes this will help in delivering on its promise of handing over the allotted apartments in 12 months.

The Housing Develop­ment Finance Corporation (HDFC) has taken an equity stake in VBHC. VBHC plans to build over 1 million houses across the country in the next 10 years and is already working on its upcoming projects in Chennai, Hyderabad and the NCR.

Jaithirth Rao, chairman, VBHC, said, “There are growing aspirations of owning a house today, in households earning between Rs 15,000 and Rs 40,000, but there are very few companies that are looking at this segment to offer entry level affordable housing solutions. We saw this as an opportunity and set up VBHC.”

The options for apartments in Vaibhava range from studio apartments to 1 and 2 bedroom hall and kitchen (BHK) apartments, which vary in size from 354 sq ft to 640 sq ft. Vaibhava will have water treatment and bio gas plants, solar powered street lighting for the premises and a solar water heating system for the higher floors.

Deepak Parekh, chairman, HDFC said, “Developing a sustainable model to provide affordable homes for the low-income urban customer gives VBHC's vision a definitive edge in the market. We are pleased to be part of this endeavour, which will bring significant value to the common man without compromising on quality.”

Jayakumar, MD and CEO, VBHC, said, “Extensive customer research is the basis for the design of the Vaibhava project. On the exe­cution side we have incorporated the most contemporary practices in building physics and construction technologies. With measures such as solar energy harnessing, water harvesting, dual-plumbing, waste management among others, the project is environmentally sustainable.”

A CBSE affiliated school —Sujaya — is also being built at Vaibhava to provide quality and affordable education to students residing in the area. There is also a working women's centre at the school. In addition, the school will operate a crèche on the premises of the school to help mothers in the community get back to work should they choose to do so.

Amenities being provided at Vaibhava include a primary health centre, 24x7 security, local shopping complex, ATM, power back-up for common areas and lifts, elevators, a community centre, festival plaza, landscaped gardens and a club house.