In a country with endless slums where the lower caste has little opportunity to move beyond their living situation, the Indian automaker Tata who produces the Nano car will be introducing the Nano home.
Tata’s housing project will sell one-room, 283 sq ft flats, less than half the size of a squash court, for 390,000 rupees (£5,200) on the outskirts of Mumbai – a city where property prices compete with those in London or New York.
The cheaper property costs just 1,378 rupees, or £18.50, per square foot, thought to be the cheapest urban real estate in the world. Like the £1,300 Tata Nano car, the homes are aimed at Indian families who could not normally afford to get onto the property ladder.
Millions of slum-dwellers are expected to jump at the chance to own a home in a proper building.
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