The TATA group of companies have been gaining a lot of international attention, one reason being its endeavour of buying out Jaguar, Land Rover and Corus Steel, the other being building the worlds cheapest car, the 'Tata Nano'.
The latest thing that's making news from TATA is their latest project of creating the world's cheapest houses dubbed 'Nano homes'.
India is a highly populous country, only second to China and a lot of people live below poverty line. This project from Tata can help a lot of poor people not only in India but around the world. The project is aimed to provide poor families who could not normally afford to own property. Its mainly aimed to eradicate the ever growing slums in cities like Mumbai.
Getting into the details, its a project undertaking from Tata Steel. The house comes with pre-fabricated materials, including roofs, doors and windows. It's basically a kit, which can be erected or assembled. The basic house is so designed to fit in a space of 20 square meters. Materials used in the kit consist of coconut or jute cladding complete with interior layouts. The house will cost a mere Rs.32000 or 500 Euros and can be erected in a weeks time on a patch of land. There is also a larger 30 square meter house which includes optional extras, such as a front verandah and a solar energy system
|The layout of the house.|
This package is also viable for beneficiaries of the Indira Awaas Yojana shelter rehabilitation scheme. The expected life of the house is 20 years. And don't consider this as social work. Tata Housing expects a turnover of Rs.1,000,000,000 (Rs.1 billion), in the first phase.
So its a great business proposition for Tata too, considering the fact that there is a huge market for cheap housing in India.