Economic Times - August 26, 2011 - Download Article (PDF, 347KB)
"Global private equity firm, Carlyle Group, has announced an investment of $26 million in Bangalore-based affordable housing venture, Value and Budget Housing Corporation (VBHC), promoted by Jaithirth “Jerry” Rao and PS Jayakumar."
Times Of India - August 13, 2011 - Download Article (PDF, 3MB)
"Value and Budget Housing Corporation (VBHC) has handed over the keys of the fIrst 56 flats, to owners at Vaibhava, Bengaluru. By September 2011, VBHC will hand over 392 flats of Phase I and by May 2012, it will hand over 448 flats of Phase II"
Business Standard - August 6, 2011 - Read Article
Value and Budget Housing Corporation (VBHC), a low-cost housing project started by technology entrepreneur Jaithirth (Jerry) Rao, is on track to meet the deadline for Phase I of its first project at Anekal near Bangalore.
The company in a statement on Friday said that 392 flats will be handed over to buyers by September 2011. As a first step towards this, the company on Friday said it has handed over 56 apartments to the owner.
The Smart Manager - February, 2011 - Download Article (PDF, 1.2MB)
"An important lesson I learnt from my career that I have applied to this business is that we need to invest in SCALE ..."
Business Standard - December, 2010 - Read Article
"The business model is actually quite simple. If you want to get into value housing, it is better to approach the business like a manufacturer of steel or cement. Land is the raw material; do not hoard it for value appreciation. Build the project as fast as possible and deliver in 18 months. Don’t get greedy for 80 per cent return on equity, be happy with 20 to 25 per cent. This is what Jaithirth (Jerry) Rao, 58, has embarked on with his Value & Budget Housing Corporation.
“Sometimes I wonder if it is worth all the effort at this age; but when I see the development going on at my first value-housing project in Anekal near Bangalore, it fills me with satisfaction,” says Rao.
MyDigitalFC.com - September, 2010 - Read Article
"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.”
The Hindu - September, 2010 - Read Article
How many times have you walked into an on going project with the hope of realising the dream of owning your own apartment, complete with all the latest fixtures and common facilities? How many times have you returned disappointed simply because your budget did not fit in? Value and Budget Housing Corporation (VBHC), with its maiden project offering affordable housing, promises to change this.
Deploying advanced construction methods using Form Systems, with estimated project duration of two years and a one-year delivery cycle for buyers, the company recently launched Vaibhava, an affordable housing complex where individual units would be available in the range of Rs 4.5 lakh to Rs. 10 lakh.
Reuters India - August, 2010 - Read Article
Two stories this week stand out as examples of how entrepreneurs in India are doing what the government and the private sector have largely failed to do. One is on housing, the other on healthcare, hot-button topics in India, which is struggling to house and heal its 1.1 billion population even as it gallops toward double-digit growth.
Various state governments and real estate firms have made lofty promises of “affordable housing”, but few have delivered.
One man is determined to show he can. Entrepreneur Jaithirth “Jerry” Rao, who headed software firm MphasiS, this week launched a project in Bangalore to build 1,900 homes that will be priced at 450,000 – 1 million rupees (roughly $9,500 – $21,000) each.
Rao’s Value and Budget Housing Corp – floated with a former Citibank colleague – will use lightweight aluminium beams and cast-on-site technology to cut costs.
The Hindu Businessline - August, 2010 - Read Article
The ‘cast-in-place' technology will ensure speed of construction and reduce wastage, thus reducing the cost of construction.
VBHC aims to build a million homes in 10 years, said Mr Rao at the launch , adding that the company wants to develop “affordable homes not low-cost homes.”
Webnewswire.com - August 2010 - Read Article
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,” said P.S. Jayakumar, MD and CEO, VBHC. “The project will stay true to our name of being high on value and low on budget.”
Accommodation Times - August, 2010 - Read Article
The building are laid to maximize open spaces and to optimize total built up area. With only 23% space utilization for building construction, there are enough open and green areas for converting as children play areas, community spaces and leisurely spaces for the elderly people. The ‘Festival Plaza’, Multipurpose Hall, Club House and shopping Centre enhances the value of social interaction.
Each residential unit here is designed by keeping in mind the natural ventilation, optimum daylight and views to community spaces without compromising on aesthetics or floor space.
The spaces also have the sustainable living approach with the provisions of low flow water fixtures and dual flushing systems to recycle treated water. The complex also houses a sewage treatment plant, has solar street lighting and solar water heating systems for the residential units.
Forbes India - June, 2009 - Download Article (PDF, 1MB)
"Rao believes that meticulous execution will keep the project profitable, even though the per square feet price is low...
Rao looked for solutions to all the arguments that were against him, he allayed the developers concerns by fast-tracking projects and that began to attract financiers. He found support from heavyweights like Parekh of HDFC. The Housing Finance giant has picked up a 10% stake for Rs. 8 Crore in his project.
"We are providing construction finance to Jerry and we're also going to provide housing mortgages to his customers" says Parekh. "He is a real entrepreneur, someone you can really bet on," he adds for good measure.
Economic Times - June, 2009 - Download Article (PDF, 250KB)
"I could retire and do nothing. At 57, I have got at least another 5 to 10 years to do something else. I did want to stay away from IT and banking and wanted to do something of scale. I looked at agribusiness, education, health care and it seemed to me that I could leverage my IT and project management skills in housing. And, there was no paucity of demand. So, you could scale this business and create a big impact."
October 1st 2010
Part 1 and 2 of ET Now's program ET Insight which focussed on Affordable Housing in India and the role that VBHC is playing.
28th August 2010
Affordable homes in Bangalore - a focus on VBHC and their role in the affordable housing market in Bangalore.
23rd August 2010
Affordable homes in Bangalore - a focus on VBHC and their role in the affordable housing market in Bangalore.
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“I was on the lookout for a Residential apartment in Bangalore for the past several months. I had the opportunity to visit several sample projects of different developers but in some way or the other they did not suit me, either the cost was too high for...
“It is indeed a pleasure to write in support of “VBHC Vaibhava” – if there was one sensible low-cost-no-frills-but-no-corners-cut project for sensible Ordinary Indians then this must be it. I came to know of it through the newspapers and their website. I did indeed make the effort and...
