Barn houses are becoming increasingly popular with the city’s population.
The concept is not new.
But, unlike other houses, these structures have been built with a focus on aesthetics.
The building was conceived by the Bajaj Group of companies in 1996, and was subsequently registered in 2002 as the Barn Houses Development Corporation (BHDC).
It is a joint venture between the government and the BHDC.
The BHDA is a non-profit organisation which is in the process of setting up the Barnhouse Project to provide affordable housing to residents of the city.
As of September, the project had received a total of Rs 3,932 crore.
The project has been awarded a total amount of Rs 4,852 crore by the Central Government through the Budget 2018-19.
However, the Bhabha Group, the owner of the Barn houses, has put the money towards the construction of the project in Karnataka.
In an interview with The Hindu, Arup Kulkarni, who is also a director of the Bhola Group, said the Barnhouses Development Corporation would make an initial contribution of Rs 1,000 crore towards the project.
The total cost of the construction is likely to be in the range of Rs 5,000-6,000 crores.
The Barn Houses Project, which was first registered in Karnada in 2001, is one of the largest residential complexes in the country.
The development of Barn Houses is an important project.
It will help to provide better housing for the city residents and will also create a significant amount of jobs.
“It will bring jobs, increase revenue and the overall economy of the state,” says Arup.
“We will also provide jobs for the locals.
We will also give the residents an affordable and stable environment.”
The Bhaba Group will also be responsible for providing a land lease for the Barn Buildings.
“This will be an opportunity to lease the land,” says Kulkar.
“If we can make a deal, we will give a lease of three years.
This will help the developers in developing the Barn Project.”
This is the second phase of the development of the projects, which is expected to be completed by September 2022.
The first phase of Barn Projects has already started.
The second phase will be completed in 2019.
“The first phase has already been completed.
The next phase will start in 2020,” says Anjali Rajagopal, director of Bhabas project.
“There are two phases to it, the first phase is for development of three buildings and the second is for the construction phase.
The construction phase will cost around Rs 1.4 lakh crore.
We have already begun construction and are finalising the contracts.
We are now looking to the third phase which will take up the entire project,” she says.
Kulkarmar says that the BHAV has been approached by various government departments.
“They are asking for Rs 3 crore per building.
We don’t know what the final amount will be, but the initial commitment is Rs 1 crore,” he adds.
This is one way to give the project a boost.
However if a large number of projects get off the ground, this may not be the best way to attract investors.
“In Karnataka, we are already seeing a number of investors who are willing to commit a lot of money for projects like this,” says Ram Kulkaran, director at Bhabhath Group.
“Even the State government is interested in the project and is currently negotiating with various investors to provide them with a stake,” says Rajagal.
He adds that there are also private sector companies who are interested in helping in the construction.
“These are some of the companies that are doing their own research and are keen to invest in this project.
If there are investors, we can easily set up a company,” says RKK.
“I think this project will create more jobs and economic growth in Karnak,” adds Ram Kothari, executive director at the BHC.
The City has already invested a large amount in Barn Houses.
“From an economic point of view, this project can bring in significant revenues for the State,” says M K Krishna, president of Karnataka Chamber of Commerce and Industry.
“Barn Houses have a good track record.
They have developed the project with a strong foundation and are now trying to expand their footprint,” adds Kulkarna.
According to the Bhaava Group, Karnataka is the most urbanised state in India.
The state has the largest number of households, and is also the home of the Karnataka Development Corporation.
“BHAV will be a key element in the development and the transformation of the State.
We expect this project to contribute to the Karnak growth and help Karnak become a global leader in urban housing,” says Dr K K Kulkaria, president and CEO of BHAVA.
Karnataka has also been one of its main beneficiaries of Barn House projects.
“More than 1,200 Barn Houses were