Tata's Nano Home: Company behind world's cheapest car to sell $7,800 apartments

Posted by: Prashant Gopal on May 7, 2009

Tata, the Indian company that made worldwide headlines with its $2,000 Nano car, now plans to build 1,000 tiny apartments outside Mumbai that will sell for $7,800 to $13,400 each. The company plans to roll out low-cost projects outside other major cities.

Tata’s housing division is targeting a segment of the market that was largely overlooked during the housing boom. India’s builders were concentrating on building shiny new high rises and mansions on golf courses. Builders were after profits, but they were also trying to justify their fast-accelerating land costs, especially in and around Mumbai (formerly known as Bombay) and other major cities.

But some business consultants (most prominently, C.K. Prahalad) were arguing that companies would profit handsomely if they target the “bottom of the pyramid” where the bulk of consumers are. It looks like Tata is taking that advice.

Luxury flats in Mumbai can cost more than ones in Manhattan. But these apartments won’t be luxurious. The Tata apartments will be built on 67 acres in Boisar, an industrial area where many lower-wage commuters already rent. These apartments will be absolutely tiny. The carpeted area of the smallest units will be 218 square feet, too small even for most Manhattanites. The largest units would be about 373 square feet (Click here to see the floor plans). Can you imagine squeezing a family into one of these units? The community would have its own garden, post office, meeting hall, schools, and hospital.

Tata is not targeting India’s poorest people or even the lower middle class. I worked as a journalist in New Delhi in 2007 and paid my driver $1,500 a year — well above the going rate (I’m almost embarrassed to mention this, but expats in India often have drivers).

My former driver, Deepak, considers himself lower middle class. Deepak, 31, lives with his wife, mother and 3-year-old daughter in a small rented room (They share a kitchen and bathroom with others on the same floor). His dream is to own a home. But it’s unlikely that he could ever earn enough to buy one of these units. They are targeted at folks earning an annual salary of $6,000 to $10,000. The average call center employee with 10 to 20 years experience earns 320,000 rupees or about $6,400 a year.

Reader Comments

vijay

May 7, 2009 12:42 PM

We need more of this in India. Glad some one is starting to think of the lower middle class. This is the best way to reduce slums and convert them into something better. Atleast until we tackle our population explosion:)

Squeezebox

May 7, 2009 1:30 PM

These will still be slums, just stacked up nice and neat. Look at New York City for an example. There are many tenements there.

hasib

May 7, 2009 1:40 PM

It's about time... sounds like a money making scheme off the poor people. Same is done in all major cities of Pakistan with the name of Bahria Town... guy is now a multi-billion enterprise.

Sarabjit Mann

May 7, 2009 1:59 PM

This is the true example of enterprenuership.

Sarabjit Mann

May 7, 2009 1:59 PM

This is the true example of enterprenuership.

Mehul

May 7, 2009 2:29 PM

Why not, I think this is a great idea. Tata has a strategy and aam aadmi will vote with his purse. This is the essence of Indian enterpernuership. I love this, three cheers for Tata.

Doug Terry@terryreport.com

May 7, 2009 2:37 PM

Chance are, these apartments will be selling at two or three times the first price within a few years. The demand for housing, and ownership, means that people around the world, especially at the lower income levels, are willing to pay dearly to have their own place. Social pride, rather than social resentment seen in many places around the world, will likely keep these apartments from becoming true slums, at least for a long time.

Dan

May 7, 2009 3:15 PM

great that TATA thought of that but i think they should make it little bigger the 227 SQ Feet
one thing i am so happy that TATA is doing this project because he is man of integrity (which you need when building this kind of apartments ) pulse he stand behind his products and i am sure that he will make sure that everything is done as per the building code , which is very important , when you will have thousands of people living there

DD

May 7, 2009 3:19 PM

i think we should have more people like Ratan Tata who is man of integrity and not greedy like most of the business men and our leaders , sure he has right to make money but he will do it will class and give great product for the money
he will follow the building codes and not cut corners , but most of all he wont pay money to our corrupt leaders (DOGS) to build this projects
GOD BLESS HIM

Karl

May 7, 2009 3:29 PM

We need Tata to come over to the USA!!!! Our so-called 'leaders' don't have a CLUE!!! They're all in it for their own personal gain, & it's never going to stop!!!!!

Karl

May 7, 2009 3:29 PM

We need Tata to come over to the USA!!!! Our so-called 'leaders' don't have a CLUE!!! They're all in it for their own personal gain, & it's never going to stop!!!!!

Karl

May 7, 2009 3:29 PM

We need Tata to come over to the USA!!!! Our so-called 'leaders' don't have a CLUE!!! They're all in it for their own personal gain, & it's never going to stop!!!!!

Larry

May 7, 2009 3:39 PM

Good job Tata. People like this are rare.

Asela Dahana

May 7, 2009 3:57 PM

This is what we need in the US for young people. Tiny well designed two bedroom Apartments/Condo's for about $80,000- $100,000 Max. It should have great facilities like a pool, gym, bar,a Cafe that serves great healthy food (Breakfast, Lunch & Dinner) at a reasonable price and maybe a club house where you can play pool, darts, cards and socialise.

Kim

May 7, 2009 4:12 PM

Who can live in 272 sqr ft? When I was single and living in San Francisco, my one bdr apt was 600 sqr ft and my parents complaint about me living in a shoebox when they came to visit. Even the smallest studio apt in SF is 450 sqr ft. 272 is half that, but is supposed to house a family of 4? Does it even have a kitchen and toilet with modern plumbing? I'd really like to see this done. A family of 4 living in a room smaller than my closet! It's almost inhumane. You might as well go live in the slum of Dharavi, at least you can breath some fresh air. I don't imagine it'll have AC either, and with that stifling heat in India, does it even have a window? Ouch! It's almost like those Japanese people who just rent a bed to sleep in, but at least they don't squeeze in a whole family. It's just a single person's lair.

Matt

May 7, 2009 4:22 PM

I think this is a great idea. Unlike the public housing project in the U.S. that displaced the poorest citizens to wherever it was most convenient, these apartments are placing citizens where they need to be (close to work) and providing them with services (school, hospital, post office, etc.).

The world needs more high density, affordable housing. Not only will this improve the area overall, but it reduces our dependency on the auto.

Mike

May 7, 2009 4:36 PM

Kim.. Get over yourself! You're projecting what you want or are accustomed to others on the other side of the world.

I'll bet if you were born and raised there with little money then you wouldn't complain so much..

Strategery

May 7, 2009 4:36 PM

This sounds great and all, but here's what will happen. An investor will come in and buy up all the apartments, then rent them out while they wait for the value of the apartments to go up. After that, two things could happen: 1. The value will go up to the point where the average person will be priced out of the market. 2. The value will fall and the investor will default on loans, helping lead to a banking crisis. Either way, this will be renters-ville owned by a slumlord.

Mike

May 7, 2009 4:37 PM

yes they have this in America.. It's called the i-House.. Look it up in the news!!

Sanjay

May 7, 2009 4:55 PM

This is a good way to help lower income people get some traction, and onto the bottom rung of a ladder they can climb. I think pre-fab technology could play a good role in this. I even wonder if the transportation industry and home-building industry could each adopt changes to meet the other's needs. Roads could be built wider, and shipping containers constructed differently, in order to facilitate their use in pre-fab home construction. Likewise, pre-fab homes could be mass-produced from such shipping containers at lower cost, while reducing waste:

http://www.youtube.com/watch?v=65C9OLvmjpI

Mark

May 7, 2009 5:20 PM

This is a great idea, and I am not surprised to see someone like Tata doing it. This is something that is needed around the world. Spoiled and overly entitled people like Kim need to see past their own McMansion standards to the reality that is faced by the rest of the world. Residences like this will become more of the norm as the world continues to develop.

I live in one of the most expensive cities in the world, and in university I lived in an apartment that was 220 sq ft. It was all I could afford, and I was happy to have it, as it allowed me to live and go to school where I wanted to.

sam

May 7, 2009 6:04 PM

Bloody rat race! people enticed to pack tight so that their masters can have cheap labor.

it is time India sets occupancy standards. This will de-crowd the cities otherwise everyone and his cow will keep crowding into shitty cities.
1. 1 person = 500sqft minimum, be it house or restarurant or shop space + restroom.

just travel outside Indian cities and it is mostly empty. They will tell you land is premium. well they said that of Tokyo as well to jack up prices in the 80's.we know what happened.

I never understood why Americans would crowd into bloody Newyork either, when better less crowded cities exits.

grant@ryuuguu.com

May 7, 2009 6:33 PM

@Mike,Mark& Kim
I agree with Mike&Mark, Kim get over yourself. I live in Japan. The capsule hotels you are refering to are 20sqr ft or less. 600 sqr ft is about the size of my Apartment, people keep asking why I live in such a big place alone, I could easily fit a family of 3 in here. I am considering moving to some place smaller if I keep living alone.

272 sq ft is plenty of space for one person if don't you feel you need enough clothes and shoes to wear a different outfit every day of the month plus a big TV and all the other consumer gods some people feel are essential to life. I would find it small for a family of 4 but being raised in North America I have a distorted sense of how much space I need.

@Sanjay
(link to video did not work for me) I like the idea low cost homes from shiing containers. There people building prefab homes from shipping containers but they tend to be rather expesive. I have looked at shipping container homes but because of the all steel construction and strength need for shipping an empty used container still cost a couple thousand US last I checked. Low cast but some standards but still pricey compared Tata's apartments.

MURUGAN

May 7, 2009 7:26 PM

TATA setting new trend in the industry ! Kudos to TATA. I believe its a great idea !!! Please pursue it.... Millions and millions of people in India will benefit...

Janne

May 7, 2009 8:34 PM

272 sqft is just over 25 square meters. Which is one square meter more than the apartment I stayed at for three years while doing a post-doc here in Japan. Living/dining room with bed, closets, table and desk; small kitchen (two-plate stove); separate toilet and bath (with a bathtub, this being Japan); and refrigerator, washing machine, television, air conditioning, microwave...

It was lots of space for one person, and two people wouldn't have had any trouble; most units were in fact occupied by couples, sometimes with a young child. It's often people like me working in the area for a few years, or young couples that are saving up to buy an apartment or house.

Point is, 25 square meters is not all that small. Anyone who believes it's impossible to live on that space as a small family (let alone single!) has some pretty deluded ideas of what a living space requires.

KB, NY

May 7, 2009 8:36 PM

It is something only Tata can imagine and implement.

My best wishes to the project !!

Alex

May 7, 2009 8:36 PM

Is it time we start lowering our living standard and live like Indians? Ouch, I sure hope not. I am not looking forward to sleep in the same bed with my parents and have a family of 4 live in 280 sf. Indians can have fun with those. I am fine with my 2 acre house. Please keep those Indians where they belong.

Sanjay

May 7, 2009 9:19 PM

Grant, yes, I've read quite a bit about container homes. And I'm wondering if the concept could be taken even further, by expressly designing/building shipping containers so that they could later be modified to become dwellings. Consider it a form of recyclability. For instance, the container walls could be designed to be more like SIPs (Structural Insert Panels)

Here - go to this site:

http://www.container-life.com/

Ranti

May 7, 2009 9:33 PM

what a great idea TATA. In Indonesia the government build the house for the poor people but the price was not for poor people. The government should learn from TATA.

Kartik

May 7, 2009 9:38 PM

This is an idea that is 40 years overdue in India. There is nothing high-tech about it - it could have been done in the 1960s.

But thank god it is happening now. It is still a step up for people living in Dharavi.

Also, for Americans who think this is odd, note that these Tata apartments are still bigger than the typical US college dorm room that even upper-middle-class Americans live in from ages 18-22.

These apartments are perfect for a single person or newlyweds.

As to how Indians produced a billion+ people when 6 people across 3 generations live in the same room - that is one of the great secrets of India :)

Kartik

May 7, 2009 9:39 PM

Why only 1000?

Mumbai needs 1 million such units. Dharavi alone has 1 million people living in 1 square mile.

austin, tx

May 7, 2009 10:27 PM

eat the rich, they will not allow the working poor more money...we need to eliminate human beings on this planet. maybe the taliban can get a nuke off sometime soon u fools

austin, tx

May 7, 2009 10:30 PM

eat the rich, they will not allow the working poor more money...we need to eliminate human beings on this planet. maybe the taliban can get a big one off sometime soon, u fools get it

Jeevan

May 7, 2009 10:57 PM

another subprime looming

KC Rupesh

May 7, 2009 11:16 PM

This is another scam. Just 2 years ago, I purchased a 1100 sqft apartment in Chennai suburb for USD 36,000. It is not a low cost apartment and has all facilities of a modern unit. The area is about 4.8 times bigger than the smallest "Nano" house (227 sqft). Now multiply and see 4.8*7,800 = 37,440!! it is still cheaper than the so called "Nano" home. Please note that my apartment in the city limit (any facility not more than 2km away) and not some 100km away.

Darien

May 8, 2009 12:57 AM

What India needs is a proper revolution like the French one. The poor (~80%+ of the country) need to rise up and just utterly eradicate the rich. It is sickening to see idiots like the Ambanis (allegedly the unofficial richest man in the world) worry more about feuding with each other than the welfare of millions who live in utter poverty. When the heads of Anil Ambani and Vijay Mallya roll in blood in the streets of Mumbai, only then will India be true to herself

Darien

May 8, 2009 12:57 AM

What India needs is a proper revolution like the French one. The poor (~80%+ of the country) need to rise up and just utterly eradicate the rich. It is sickening to see idiots like the Ambanis (allegedly the unofficial richest man in the world) worry more about feuding with each other than the welfare of millions who live in utter poverty. When the heads of Anil Ambani and Vijay Mallya roll in blood in the streets of Mumbai, only then will India be true to herself

Mao

May 8, 2009 1:03 AM

i calculated ,it equal to 27 m2.
it is just single apartment for single person. for a 4 members family ,it not mean more.

Mao

May 8, 2009 1:03 AM

i calculated ,it equal to 27 m2.
it is just single apartment for single person. for a 4 members family ,it not mean more.

Mao

May 8, 2009 1:03 AM

i calculated ,it equal to 27 m2.
it is just single apartment for single person. for a 4 members family ,it not mean more.

Nusrat

May 8, 2009 7:42 AM

My wife and I rent a 700 sq ft apartment in New York city. But we spend almost all our time in the bedroom, which is 144 sq ft.
My point being: one can easily adjust in smaller digs, if needed.

Carazoo.com

May 8, 2009 9:38 AM

Nice article. :-)

sam

May 8, 2009 10:06 AM

I have a new name for it. Nano VSS!!

Vertical shiny slum.

BW Writer Prashant Gopal

May 8, 2009 11:39 AM

Hi, this is Prashant Gopal, the writer of the original blog post. Thanks so much for your interesting comments. Here's a link to the actual floor plans on the Tata Web site:http://bit.ly/XIKRO

It looks like the posts have three general themes. Some people praised Tata for addressing the needs of the common man and suggested that western builders follow the company's lead. Others wondered what building techniques Tata might employ. And a large number of posters simply wondered how a family might squeeze into such a tight space. I did a search for tiny New York apartments on Trulia.com and found a number of units that were as small or smaller than the ones Tata is building. Here's a 250-square-foot studio in the East Village selling for $249,000 (http://www.trulia.com/property/1068636048-99-Avenue-B-New-York-NY-10009). People in large, expensive cities such as New York and Tokyo have gotten used to living in tight quarters (They tend to spend a lot of time outside). It's all about location. People want to be close to their jobs and make sacrifices to do that.

It looks like Tata won't be building high rises, according to a Time.com piece today. The company plans to keep costs down by limiting the cement homes to two stories and will pack 8 to 12 homes in each building.

Tata is counting on economies of scale and "careful sourcing of materials" to keep prices down, Time says. Project managers will rely on materials from a nearby Tata Steel plant, for example. And "Land-acquisition costs will be minimized by giving the original landowner a percentage of each project's returns," the Time article says.

Do you think people will buy these units? Or will it just make more sense for folks to rent? Do any of you live in units this small? How do you make efficient use of your space?

Michaelc

May 8, 2009 12:29 PM

The complaints about the size of the apartments are silly. I know several couples who live on 22-30ft sailboats and the space on those is far smaller than 250sq ft. You need to live differently than in a larger space, but it is very possible.

Shailesh

May 8, 2009 12:42 PM

I commend Tata's for taking lead on this. I am sure many other will follow soon. I want to make one point here though,

The main issue for Housing Affordability has always been weak infrastructure and lack of planning. The issue with Mumbai is its dependence on old suburban Rail network which was never extended till about 10 years ago. Even Navi Mumbai, which was planned almost 60 years ago did not take off till Suburban Rail started and increased its frequency. Today when you look at Mumbai's map, you can see we have 15 million people living in very small geographical area, primarily due to reasons like good transportation options.

Similar to what is being done for Metro train (joining some key suburbs), Government should also form Public-Private partnership and develop suburban rail to far flung places like Boisar, Kalyan, Uran etc... If you build it, people will come.

Shailesh

May 8, 2009 1:06 PM

Mr. Gohel, Very good article.

Actually one can build better houses at much affordable prices. See the video at this URL,

http://www.youtube.com/watch?v=EBkv5jjjhJ0

The issue has always been building other infrastructure required for housing. Tata's can lead the nation in providing template for such infrastructure. If it can be commercial success, the potential for replication is great.

On your question whether people will buy such units, the answer would depend on income, demand and supply in Boisar. If Tata's have done the ground work, they would be able to sell 1000 units they are building. I think at this location this idea would work. You have MIDC providing jobs to many low skilled workers, having income to afford such houses.

Siddique

May 8, 2009 2:25 PM

Tata is a big name in the US now. I am in Business School and almost every professor discusses Tata in one of their classes. Even my American classmates are amazed at the whole business model around the Nano. They have started respecting Indian companies because of the extent to which we can subsidize costs. This is especially good in a recession because most companies would want to be like Tata. Tata can easily capitalize on such brand awareness to build a unique identity for themselves. Whats cool is that even foreigners have started following Tata closely and most of them know about the apartment initiative already. Way to go Tata.

AJ

May 8, 2009 2:56 PM

People don't like the Nano because it will cause traffic. People don't like this idea because it will use up precious land that would have normally been used for higher end developments.

Tata is focusing on the "bottom of the pyramid," and it should be lauded for doing so. Frankly, too little attention is paid to the poorest people in the country.

Raj

May 8, 2009 3:06 PM

I realize that some people in the West may not know this, but in Indian slums it is common to find an entire family, and even extended family, living in a small one bedroom unit, which also serves as the kitchen, family room, etc.

Dhaval

May 8, 2009 4:01 PM

This is a great start. We do need quite a few more Tatas in India to bring about real change and be upto speed. A lot more needs to be done, can be done and should be done. The younger generation is very innovative, they will show they way. Education is the most important thing, the rest will follow concequently.

g2ok

May 8, 2009 6:10 PM

The world needs more people like Tata. A very inspiring article that proves business can do good.

I would like to put Steve Jobs and Ratan Tata in a room and see some very awesome things.

Sarji Ramanathan

May 8, 2009 9:39 PM

I think the key here seeing the problem, then solving it while making a profit. Tata saw the problem, millions of people needing affordable housing, found the solution to that problem, while making money in a sustainable way and now that is innovation.

Sarji Ramanathan

May 8, 2009 9:39 PM

I think the key here seeing the problem, then solving it while making a profit. Tata saw the problem, millions of people needing affordable housing, found the solution to that problem, while making money in a sustainable way and now that is innovation.

Sarji Ramanathan

May 8, 2009 9:39 PM

I think the key here seeing the problem, then solving it while making a profit. Tata saw the problem, millions of people needing affordable housing, found the solution to that problem, while making money in a sustainable way and now that is innovation.

Slumlord

May 8, 2009 11:02 PM

This a great idea for a deeply screwed up country. Great! Indians will live in boxes. But that's better than carborn boxes that millions of them are living in now.

Slumlord

May 8, 2009 11:02 PM

This a great idea for a deeply screwed up country. Great! Indians will live in boxes. But that's better than carborn boxes that millions of them are living in now.

Slumlord

May 8, 2009 11:02 PM

This a great idea for a deeply screwed up country. Great! Indians will live in boxes. But that's better than carborn boxes that millions of them are living in now.

Slumlord

May 8, 2009 11:02 PM

This a great idea for a deeply screwed up country. Great! Indians will live in boxes. But that's better than carborn boxes that millions of them are living in now.

Slumlord

May 8, 2009 11:02 PM

This a great idea for a deeply screwed up country. Great! Indians will live in boxes. But that's better than carborn boxes that millions of them are living in now.

Slumlord

May 8, 2009 11:02 PM

This a great idea for a deeply screwed up country. Great! Indians will live in boxes. But that's better than carborn boxes that millions of them are living in now.

Amit Kumar

May 9, 2009 1:06 AM

CSR and Business combo; as i see it..
Great move initiated by Tatas

James Mason

May 9, 2009 1:10 AM

Obviously the Americans commenting here all expect the poor slum dwelling Indians to be housed in future in gated communities with 25,000 square foot multi-level, air conditioned homes. Sort of Palm Beach in Mumbai, so to speak.

Kartik

May 9, 2009 3:13 AM

Again, I don't why people think these apartments are small. The average American college student lives in a dorm room smaller than this, for 4 years.

This is common for many New Yorkers living in studio apartments too.

Bunk beds, sofabeds, etc. are all American inventions that are used in such tight quarters.

taptamus

May 9, 2009 6:51 AM

It's far more important to align with Consumer needs, really happy to see Indian companies are solving third-world problems - Fortune at bottom of the Pyramid.

Sharan

May 9, 2009 8:04 AM

Something that hasn't been highlighted about this project is that it is also going to be a 'green' project. There is an attempt to make the entire township sustainable and environment friendly. I managed to read some of the pamphlets on the specifications and it mentioned rain-water harvesting, vermiculture and medicinal plantations as part of the township plan. I think their idea goes way beyond providing just a decent home...It's about a lifestyle better than the one a slum would offer (or so I imagine). In addition a reduction in the commuting time goes a long way in enabling residents to enjoy more time with their families. Anyone who's lived in Mumbai would know that these are very real problems there!

That said however, it's just a very very small step in providing a viable housing alternative to India's poor and middle class. It doesn't seem to be a replacement for slums like Dharavi. For those who need to work and live within the city such prices are still a faraway dream. Atrociously high land prices within Mumbai will be a problem in keeping costs low.

Sutton

May 9, 2009 11:06 AM

Congratulations!! Awesome idea!! Frankly, a couple of years back, I had no idea who or what Tata was. But, this guy is truly a visionary. I read up about him and realize he is ~70 yrs old. If only your country had joined the liberalization bandwagon earlier, when this guy was younger, he would have dreamed up more fantastic ideas. I hear he's been heading his business empire since his late 20s, but the new environment in your country now is encouraging him to bring out the true entrepreneur in him. He is a great example for globalization nay-sayers that my countrymen have become nowadays. Wish he were born in the USA.

Sutton

May 9, 2009 11:06 AM

Congratulations!! Awesome idea!! Frankly, a couple of years back, I had no idea who or what Tata was. But, this guy is truly a visionary. I read up about him and realize he is ~70 yrs old. If only your country had joined the liberalization bandwagon earlier, when this guy was younger, he would have dreamed up more fantastic ideas. I hear he's been heading his business empire since his late 20s, but the new environment in your country now is encouraging him to bring out the true entrepreneur in him. He is a great example for globalization nay-sayers that my countrymen have become nowadays. Wish he were born in the USA.

John

May 9, 2009 2:44 PM

This sounds like a step up for people there. I have nothing but best wishes for them. As far as the USA we have more room here and more resources, we don't have 1+ billion people, why do all you damn hippies think that we need to move into 300 sq ft apartments?

Sav

May 9, 2009 3:56 PM

Nice work by the tata's.
This is a good initiative, but definitely not entrepreneurship. To be an entrepreneur, he would made it cheap and safe. This is just raw cheap capitalism. If you cant buy this at this price, i will make it a smaller package for you, of inferior quality.
Amongst all the brains, cant someone come up with a cheap and safe solution.
Even then atleast someone is taking the initiative, better something than nothing.

Karthik

May 9, 2009 4:45 PM

Great, But I speculate that real estate sharks and corrupt politicians would put the money in, buy the apartment cheap and sell if for a premium.

Nobody is going to show mercy on the poor people in our country.

superman

May 9, 2009 4:57 PM

hey Indian are much shorter than most Americans i think. From the ones Ive seen so they fit into these apartments really well. its a good start. maybe it becomes so successful tata would launch 20 operations after this.

Siddique

May 9, 2009 7:28 PM

Tata is a big name in the US now. I am in Business School and almost every professor discusses Tata in one of their classes. Even my American classmates are amazed at the whole business model around the Nano. They have started respecting Indian companies because of the extent to which we can subsidize costs. This is especially good in a recession because most companies would want to be like Tata. Tata can easily capitalize on such brand awareness to build a unique identity for themselves. Whats cool is that even foreigners have started following Tata closely and most of them know about the apartment initiative already. Way to go Tata.

Siddique

May 9, 2009 7:28 PM

Tata is a big name in the US now. I am in Business School and almost every professor discusses Tata in one of their classes. Even my American classmates are amazed at the whole business model around the Nano. They have started respecting Indian companies because of the extent to which we can subsidize costs. This is especially good in a recession because most companies would want to be like Tata. Tata can easily capitalize on such brand awareness to build a unique identity for themselves. Whats cool is that even foreigners have started following Tata closely and most of them know about the apartment initiative already. Way to go Tata.

Michael Finlan

May 9, 2009 8:09 PM

"But it’s unlikely that he could ever earn enough to buy one of these units."

That's because people like you pay low wages. So to get over your shame of employing someone for so little money , I suggest that you assist him financially to buy one.

Swati

May 9, 2009 10:08 PM

Fulfilling the dreams of thousands of people of the country. TATA is our nation's proud. This one name of INDIA built the country and still is working for it. Ratan Tata proved the meaning of his name for the country.

Vanamali

May 9, 2009 10:42 PM

Fantastic idea. I think the guy who said these will still be slums has no clue what slums are today. You are talking huts and mud floors. When it rains you have water running thru your living room floor. Disease is rampant in such conditions. Nobody is talking instant riches and cozy living. One step at a time, we will get there.

Peter

May 10, 2009 1:40 AM

We need this in America. This is what Buckminster Fuller advocated for years -the industrialization of housing.

Joy

May 10, 2009 1:55 AM

I have found it very comfortable to visit in india in small rooms. They hide storage space very well (especially in the kitchen), and have lots of nice parks and courtyards for socializing (not to mention clubs, which the upper and upper middle classes got from the English, and really made their own). I found people liked to lend and borrow books, so the demands for bookcase space were less than you might think. It helps, of course, that neither the furniture nor the people were generally overstuffed & supersized. Additionally, much of the subcontinent has no need for sweaters, winter coats, blankets, or anything but thin cotton clothing and thin cotton bedspreads, especially as these units are clearly designed to provide shaded windows and cross ventilation, allowing for cheap and ecological evaporative cooling air conditioners. Also, I assume the bathrooms have "geysers"--the electric tankless water heaters so prevalent in India and S.E. Asia (and so new and pricy in the US). I really enjoyed looking at the different plans. Given the effiency (in terms of transportation, water use and sewage collection) to be gained from high-density living, it's nice to see someplace that's sized like an officer's or upper-middle ranking government employee flat, but with more green space, and a reasonable price. Of course, if you don't really enjoy being with your spouse or child, you do need a much large space. But isn't that a sad thought? I'd actually love to live extra-close up with my husband in one of these.

Joy

May 10, 2009 1:55 AM

I have found it very comfortable to visit in india in small rooms. They hide storage space very well (especially in the kitchen), and have lots of nice parks and courtyards for socializing (not to mention clubs, which the upper and upper middle classes got from the English, and really made their own). I found people liked to lend and borrow books, so the demands for bookcase space were less than you might think. It helps, of course, that neither the furniture nor the people were generally overstuffed & supersized. Additionally, much of the subcontinent has no need for sweaters, winter coats, blankets, or anything but thin cotton clothing and thin cotton bedspreads, especially as these units are clearly designed to provide shaded windows and cross ventilation, allowing for cheap and ecological evaporative cooling air conditioners. Also, I assume the bathrooms have "geysers"--the electric tankless water heaters so prevalent in India and S.E. Asia (and so new and pricy in the US). I really enjoyed looking at the different plans. Given the effiency (in terms of transportation, water use and sewage collection) to be gained from high-density living, it's nice to see someplace that's sized like an officer's or upper-middle ranking government employee flat, but with more green space, and a reasonable price. Of course, if you don't really enjoy being with your spouse or child, you do need a much large space. But isn't that a sad thought? I'd actually love to live extra-close up with my husband in one of these.

Seeer

May 10, 2009 7:45 AM

Millions of Americans live in travel trailers, some smaller than these. My friend lived in a 8 by 31 fifth wheel with a 10 by 2.5 tip out, it was nice and very comfortable. It cost 21k when he bought it several years ago and the space rent was two hundred a month in the SF bay area. It had a small bedroom on the fifth wheel.

Crane Country

May 10, 2009 8:55 AM

Tata's ability to find commercial logic in filling in the gap between rich and poor is heartening, both in cars and in housing:

http://blogs.thenational.ae/crane_country/2009/05/worlds-cheapest-car-maker-turns-to-apartments.html

I imagine the apartments to be similar to Tata's Ginger line of hotels: clean, cheap and utterly lacking in frills.

Manoj

May 10, 2009 2:36 PM

I fully agree with Raj, i guess these are the selfish people (like the one complaining) don't think beyond themselves. These house are build for people who cannot afford flats in Mumbai because of incomprehensible rate at which private builders offer. While those 2 acre homes still would remain while there is some one now who thinks of people who commute in and out of mumbai to come office because they cannot afford to buy a flat in mumbai. Kudos to TATA

K

May 10, 2009 3:50 PM

I'm confused as to why a $8,000 home is considered almost impossible for someone making $1500. a year. The lower price range of houses/condos in my area is $300,000 which is about 6 times my annual salary. These homes are about the same, so I'm a little lost as to why it's impossible. Does his wife not work? I would assume if his mother is living with them, she could provide childcare while the wife earns money as well. Is there a much higher cost of living in terms of food/transportation/healthcare, or no loan services available? Just a little more info in the post would maybe help people see why.

Also, to the people who are saying people who want to live in larger spaces are "deluded" and need to "reevaluate" themselves, the same goes to you. Different people need different amounts of space, so why are you so judgmental? Some people can live in cramped quarters, other people can't, and you can't say "everyone can do it" based on some people who can. So what if some people in manhattan can fit into a similar sized apartment? Small apartment sizes is one of the major turn-offs of living in manhattan. I would rather have a 45 minutes commute and take a second job to be able to live in some place roomier than confine myself to such a small space. However, I understand there are some people who feel the opposite.

So seriously, let's be happy that TATA is making these apartments for people willing to live in such a small space, and not be self-righteous jerks to the people who would want a larger space.

John FC Turner

May 10, 2009 4:09 PM

The call center employees are probably better off in the slums, saving their money and buying essentials, rather than getting in to some kind of mortgage or rent scheme. The relative gains in comfort will lock them in to a cycle of debt that will not improve their long term quality of life at all..but they might get a microwave out of the deal. Reject the housing market - housing is a right not a commodity. Lower standard of living for a higher quality of life!

Dasma, NYC

May 10, 2009 5:17 PM

TATA is a great reputed established Indian company, bringing the real life in each products and services to the great society, to make sense of it's own suitable to all affordable that what is the real and unbeatable competition in the world.

Robin 'Roblimo' Miller

May 10, 2009 9:19 PM

My wife and I live in a one-bedroom, 480 square foot mobile home with a 200 square foot add-on room we use as shared office space since we both work at home.

The main space is a 1960 Vagabond "10-wide," well-known in its day for being better-insulated than most stick-built houses. We've added even more insulation, to the point where even with a stack of computers, a flat-top electric stove, and a 42" LCD TV, and profligate air conditioning use, our peak electric bills are still under $100 per month.

We paid $18,000 for the trailer and lot, then spent another $12,000 on remodeling and appliances. Our association fee, which includes water, sewer, and community amenities including a clubhouse and swimming pool, is $105 per month. Add property taxes, insurance, County trash collection fees, and cable/phone/internet service, and we are at just over $400 per month, total.

Big? No. Nice? You bet. The bedroom is smaller than my wife would prefer, but on the other hand we have more closet space than most of the larger places we've lived in over the years. Plus we have a nice patio for outdoor BBQ cooking and eating, plenty of shed-type storage, enough yard to make our 50-pound dog happy, and a separate little fenced space where we store our bikes, lawn mower, and kayak, along with my tools, spare lumber, paint, and other "stuff."

We have room for up to four guests to stay overnight, all on foldout furniture.

It's actually a nice life here. We've lived in three times as much space, but haven't ever really lived *better* than we do now.

Ady, UK

May 10, 2009 9:24 PM

A good intiative and brings benefits to the lower income as long as the crooked minds do not interfere (which is where TATAs should focus now, in bringing about the real benefits of the project)

Sanaka

May 11, 2009 12:39 AM

Irrespective its bigeer/smaller it deals with emotions of lower middle class people in & around Mumbai.Appriciate TATAs initiative.

Interconnect

May 11, 2009 4:14 AM

Great begining from the sub-continent with India. In league with Nano which is the only and one in the world this initiative is excellent. Toyota did the same thing long time back by making low cost modular housing, in the Japanese market. Japanese are model of modular housing and Tata showing it in India is a welcome gesture. The SAARC region in general and the subcontinent other part would greatly share the initiatives of Tata Nano, low cost housing as part of WTO guidelines. eMail: inerconnect.partner@gmail.com

james kariuki

May 11, 2009 4:35 AM

kudos tata,what a great thought? we need people like you in africa

Chris Finlay

May 11, 2009 10:29 AM

Mmmm wonder what the carbon footprint is? A/C or natural cooling methods? Will these be low cost high environmental impact spaces or smart housing? If TATA executes well, bravo. If not they are offering more of the same.

Ben

May 11, 2009 2:39 PM

Amazing that so many Americans (of which, I am one) are deriding the size. Way to go, idiots.

The smallest ones are still large enough to support a meager family of 2. Given the fact that many of these people live in apartments that are most likely less structurally sound, this is a great thing. I am working on re-building an apartment complex I own, and some of our efficiency apartments are not much larger than this.

Great idea. If I had the money, I would do the same thing here in Ohio for the low income: small apartments, but rich in shared community features, at rock-bottom pricing.

Amit

May 11, 2009 3:41 PM

I myself grew up in a 350 square feet house in Mumbai. Although, it is a small house, it has one bedroom, one living room, a small kitchen and toilets. My family of four (my parents and my brother) stayed there. To be frank, it did feel crowded, but it was a big emotional factor as we had the privacy and the security of staying in a good locality. It would be very crowded if guests would stay overnight. My parents bought this apartment almost 15 years ago for $2000. Before that, we stayed in an area which was not exactly slums but something similar to slums. Most of my childhood friends are doing no good in their lives, and one of them has been in a jail couple of times. Currently, I am in the US working for a big Fortune 500 company, and I will soon be quitting my job to focus on my fledgling startup that will employ at least 15 Americans. The point I am trying to make is that my parents opted to raise their kids in a small but secure place even though they could not afford it. It made a big difference as their kids (my brother and I) have turned out to be productive members of the society. The house was cheap and small, but it was big enough to raise two kids into good human beings :)

Pishabh Badmaash

May 11, 2009 7:10 PM

In my suburban Dallas house, my master bedroom has a defecation chamber that is larger than these flats.

Farhang

May 12, 2009 12:30 AM

When Henry Ford made his first car many laughed. It was the same with Emerson or Pasteur for that matter. All the great inventors, writers etc were in their prime age when they came upon an idea that would revolutionize
the world. When circumstances were ripe these individuals came up with something new. India changed from socialism to a new form of social capitalism and individuals like Tata grasped the opportunity to make changes.

Farhang

May 12, 2009 12:31 AM

When Henry Ford made his first car many laughed. It was the same with Emerson or Pasteur for that matter. All the great inventors, writers etc were in their prime age when they came upon an idea that would revolutionize
the world. When circumstances were ripe these individuals came up with something new. India changed from socialism to a new form of social capitalism and individuals like Tata grasped the opportunity to make changes.

BelandurBoy

May 12, 2009 4:48 AM

I was born and raised in Mumbai. The first 15 years of my life, I lived in 250 Sqft apartment. It has a room, a kitchen and a bathroom. Yes, it was small but I never felt the size till we upgraded to a 560 Sqft apt. Today, I live in a much larger 3 bedroom house but my parents continue to live in the 560 sqft apt and believe me, I don't feel constrained when I visit them.

To begin with, most Indians do not accumulate the amount of things that you find in an american home.

Secondly, for people living in these small homes, their lifestyles as such that they don't have a formal room for receiving guests. There is no formal dining area. People sit around the kitchen floor for dinner.

Another thing to note, if I were to buy a place to live in a slum in Mumbai, it would cost me about $10,000.

I am sure, these apts would be better then living in a slum.

Apart of TATA, there are a couple of other builders who are doing the same in Bangalore.

Veerendra Jote

May 12, 2009 10:34 AM

I second that Amit, similar story of mine.
Stayed in mumbai in apt size of around 250 sqft, i felt it was little small even then, but then its better to have a roof over you than not, also my parents decided to spend the meager resources to make me & my siblings educated, I grew up to be a software engineer, now in dallas and my sister grew up to be a Obg-Gyn Doctor from JJ Hospital in open category, my brother has recently enrolled in a MBA program.
Point is that providing a secure place to stay does provide more than just a place to stay and live, it gives people a stepping stone to enhance their lives :)

sudhir

May 12, 2009 12:48 PM

It is really a great great idea being implemented. Earlier many people and governments were just talking, but no action. Now Tata is taking action. Kudos to Tatas.
Cheers

Hiren

May 12, 2009 3:54 PM

Great Job Tatas for brining life to common people. Below link to future potential for Tata with rough numbers.

http://www.geocities.com/hirenkg/Tata_India.htm

Robert G

May 12, 2009 6:10 PM

When I was young we have a cottage and we have 3 generations living in it. This was 400 sq feet. Peoples complaints about small hotel room in Europe but why bigger if the hotel is only used to sleep and change because you suppose to visit or work outside the hotel. Many appartment in big cities are between 300-500 square feet . We see so many house being built in America with 2000- 3000 square feet and with a child and 2 adults, what a waste of energy to cool down or heat up the house, lost in time to keep it clean and the worst, family members can hide from each others. Tata has the right idea for India but in North America we need to look at our real needs not how big can I afford because bigger mean gigger expense.

Animesh Ray

May 12, 2009 7:20 PM

I think it is great idea. While in New Delhi some 30 years ago, my wife and I lived in an apartment, including a shower, wc and a kitchenette that was around 250 sq feet. Our happiness was not proportional to the square-footage. In fact we considered ourselves lucky.

FOOLS

May 13, 2009 12:35 AM

This is CHEAPER than all other solutions. People here are talking about how its expensive. Its not. You cannot compare building a house and buying a house. Do not compare places like Chennai(which is cheap) to Mumbai. Plus, this is prime area.

People are missing the point. The point is: we don't need a lot of things that we keep. And that's what this should be about. Eliminating carbon footprints and price. Not about your spacious shitholes.

Sameer P Karve

May 13, 2009 2:07 PM

Some key points that need to be considered:

1. Millions of urban low-income earners live in 1RK (thats one-Room & Kitchen) format 'homes'. These homes may be anything from a slum (as seen in Slumdog Millionaire), to 'chawls' (old buildings housing erstwhile mill workers) to 'concrete' homes. The 'room' in the "one-room.." is the living room, dining room and bedroom; at the same or different times of the day. My grandparents have lived all their lives in such a home, and also raised my dad successfully.

2. The families that occupy such homes are not likely to have all the gadgets and appliances that most people living in developed countries take for granted. Bathing is with a bucket, using water pre-heated on a gas stove); cooking is done on a twin-burner cooktop (Indian cooking doesn't at all require microwaves, ovens, sandwich-toasters, pop-up toasters, hand-blenders......), and air-conditioning is a feature seen only in upper middle class (and upwards) Indian homes.

3. Providing a legal, affordable and sustainable alternative to slums is a step in the right direction. The last few articles have aptly demonstrated how a different environment produced different outcome of the future of the ones who had a slightly 'privileged' upbrinigng.

I found some of the comments to be really disturbing. They only show the pompous nature of their authors, and the distorted view they have... not just of India, but about their own lives as well.

Sameer P Karve

May 13, 2009 2:07 PM

Some key points that need to be considered:

1. Millions of urban low-income earners live in 1RK (thats one-Room & Kitchen) format 'homes'. These homes may be anything from a slum (as seen in Slumdog Millionaire), to 'chawls' (old buildings housing erstwhile mill workers) to 'concrete' homes. The 'room' in the "one-room.." is the living room, dining room and bedroom; at the same or different times of the day. My grandparents have lived all their lives in such a home, and also raised my dad successfully.

2. The families that occupy such homes are not likely to have all the gadgets and appliances that most people living in developed countries take for granted. Bathing is with a bucket, using water pre-heated on a gas stove); cooking is done on a twin-burner cooktop (Indian cooking doesn't at all require microwaves, ovens, sandwich-toasters, pop-up toasters, hand-blenders......), and air-conditioning is a feature seen only in upper middle class (and upwards) Indian homes.

3. Providing a legal, affordable and sustainable alternative to slums is a step in the right direction. The last few articles have aptly demonstrated how a different environment produced different outcome of the future of the ones who had a slightly 'privileged' upbrinigng.

I found some of the comments to be really disturbing. They only show the pompous nature of their authors, and the distorted view they have... not just of India, but about their own lives as well.

Vj

May 13, 2009 4:48 PM

Definitely a great move to get people out of slums and I believe some good thinking has gone in coming up with this project!!

I hope TATA has some check in place to make sure that some crooked politician/businessman doesnt buy 100 units and sell them at higher prices to needy people.

Shan

May 13, 2009 4:49 PM

I am NOT against the small homes. But I definitely pity the lives of people who will be building these homes. TATA's have somehow managed to find such cheap labour. Not very surprising considering that the country does not enforce any minimum wages / work hours rules (may be they exist on paper).
So, if the workers are paid such low wages, who will build even cheaper homes for them too?
Slavery and Colony-ism might have ended .... but Corporate-ism has just begun .... and it is not for good ....

Peter Kropotkin

May 15, 2009 11:38 AM

TATA's Nano Homes are repugnant to human beings. The most reserved man certainly feels the necessity of meeting his fellows for the purpose of common work, which becomes the more attractive the more he feels himself a part of an immense whole. But it is not so for the hours of leisure, reserved for rest and intimacy. The Nano Homes do not take this into account, or else they endeavour to supply this need by artificial groupings.

Sarkar

May 16, 2009 3:06 AM

$7000 = approx 3.5 Lakh Rupees.
Its still a huge amount and good apartments of this price are already made and available in other cities of India. Mumbai was always a costlier city and $7000 is a good cheap dish for them. I hope Tata team comes up with more innovative ideas and take the price down to around $5500 to $6000 in other cities of India. At least they can launch Cheapest High Speeed Broadband in the world. :)

I appreciate TATA about the Nano project and my Dad was also amazed by Nano's low price and told me to book a Nano Car. But I'll go for a good a car alteast bigger and safer than small Nano.

nikita

May 18, 2009 12:16 AM

its a gr8 idea...but why outside mumbai why not in mumbai...

Nick

May 22, 2009 4:46 PM

Many American salesmen spend 100-200 days per year living in spaces smaller than 300 s.f. They are called hotel rooms... Your average Hampton Inn room is about that size.

Kim Siever

May 22, 2009 9:29 PM

For what it's worth, my family of 6 lives in a 798 sq ft house. We've been managing here for 3.5 years.

Hipolita

May 25, 2009 6:57 PM

Well, that is the thing; Tata is doing it for its own profit AND doing something for which there is a need and a demand. What is wrong with either side of that? In fact, that is what I would call a perfect deal.

Salman

May 27, 2009 2:05 AM

Noble idea, but Tata's should have a clause where the buyers agree not to sell the apt. for the next 10 years, i know this could be abused too, but they should have some mechanism, where they should see to it that the apt. is not sold for profit booking. It should not be bought as an investment.

spring08

May 28, 2009 3:27 PM

HOORAY! Someone has come up with an idea that will benefit the MASSES of folks, homeless or soon-to-be-homeless, Senior citizens and others who can't afford to live on less-than-poverty wages as so many AMERICANS DO TODAY!
Katrina victims, here's the answer to your prayers. And of course, it came from our NEIGHBORS ACROSS OCEANS!

spring08

May 28, 2009 3:27 PM

HOORAY! Someone has come up with an idea that will benefit the MASSES of folks, homeless or soon-to-be-homeless, Senior citizens and others who can't afford to live on less-than-poverty wages as so many AMERICANS DO TODAY!
Katrina victims, here's the answer to your prayers. And of course, it came from our NEIGHBORS ACROSS OCEANS!

manoj

June 5, 2009 4:48 AM

Come on.. 100 kilometres away from the physical centre of town. Once you leave Bombay all the amenities disappear, and it will be a 3 hour commute each direction by train, 4 hours if by road. The "callcentre guys" at whom this project is directed would have to know better than this. Every town or village is India is located using the nearest metro - be it 10 kilometres away or 1000 kilometres away. Bhopal is "only" 780 kilometres away from Mumbai, and that's the centre of India.
Too high a price for too little acreage?

I agree with Kim, Indians need to look out for a better life...

green cop

June 7, 2009 3:10 AM

Great idea if they can pull it off and make it environmentally sustainable!
All those people complaining about the small size of the dwellings should read Jane Jacob's "the Death and Life of Great American Cities". Small dwellings and high densities do not necessarily make slums, rather it is high numbers of people per dwelling and per room coupled with lack of maintenance and a lot of other factors

flytch

June 7, 2009 9:16 AM

I bought a 1440 square foot home on .56 acres in 2005 for $45,000.00... there are a lot of homes for far less in the USA. I'm in lower central Oklahoma and the house was build in the 1980's... land is cheap... available and easily upgraded to neighborhoods... it's just politics that keeps it high...

Eastwal

July 1, 2009 2:45 AM

The real TATAz. The finnest example of corporate social responsibility.

John

July 24, 2009 4:54 PM

I live in a 28 square meter apartment in the US. I find it comfortable and would gladly move to a smaller place if I could find one. This idea that all Americans want huge living spaces is not accurate.

Lee Smith

July 30, 2009 2:30 PM

Opportunities... in buying a an apartment in Turkey for as low as $20,000 and 2 bedroom with the seaview. Take a look at the deals at http://www.turkish-property-world.com

Noplaceinthesun

August 3, 2009 6:01 AM

My concerns are not with the Tata scheme, but with the copycat schemes that will follow and which will suck in gullible investors from other countries. These "investors" will pay a multiple of the Tata price, on the basis that it is cheap when compared to their own home market(s). We will then have another Dubai or another Bulgaria where idiots pay twice the local rate for something that they can neither manage nor re-sell.
See http://www.noplaceinthesun.com for an alterative view

Xamboxia

August 25, 2009 7:16 PM

yeah..my concern is the pollution,doest it have safety health hazardous free?I know in india there are alots people,so..if you try to put 3,million of that car on the road what will happen to the small street that they have over there?"Phnom Penh"

Xamboxia

August 25, 2009 7:19 PM

yeah..my concern is the pollution,doest it have safety health hazardous free?I know in india there are alots people,so..if you try to put 3,million of that car on the road what will happen to the small street that they have over there?"Phnom Penh"

Kingsley $OLE

March 12, 2010 2:25 PM

I find these topic interesting and I must add my post.You guys are just comparing India to America only.what about places like Africa where people live like sidine fish in the same size as Tata's .America is Rich so its people can afford to live a luxurious life but India doesn't have enough cash if shared among its citizens.Tata's housing scheme is like building an empire palace to Indians in the slums.Its a home they would go the the greatest temple to pray for,its an apartment they can sacrifice a cow for,begging the river goddess to reserve one for their families.
I am sorry to say this,you Americans are ungrateful to God for the vast resources you enjoy,you think its the same way in places like Asia and Africa where people squeeze to survive,where people cant save money because the little they get is used up for that day.People!,humans adapt to their environment,Tata has given India what it requires the most and they would forever be grateful to Tata for such an idea.Whereas an American family of 4 would live in a football size land mass but only to sleep in a room and snakes roaming about the majority of the land,go to Florida.People in Florida buy large area of land mass build on it and only to share it with reptiles,the reptiles even claim more than 60% of the land.Isn't that a waste of earthly resources? Tata,good job!

catee

April 15, 2010 7:13 AM

Press Release
The Worlds Smallest Sustainable House

Geneva, Switzerland.,April 15,2010---Nano, the world’s smallest house has big hopes to solve the world’s rapidly increasing global housing problems. The Nano house measures 25 square meters and can comfortably accommodate a family of four. With its creative design, the house has the ability to transform itself from a livable workplace during the day to providing two private comfortable bedrooms during the night. The day/night effect has been specifically created for Nano. This technology has helped set the house apart and has been praised by thousands of world-conscious individuals. The house is set not only to solve the world's housing problems, but to bring down Co2 emissions worldwide. The Nano uses passive solar energy, which is completely free, non-polluting, and renewable. We are all aware that the problem of inadequate or non-existent housing has reached crisis proportions globally. Though improving housing conditions around the world is a complex issue, Nano has come up with a solution that is economically viable, sustainable, and attainable. The Nano house can be ordered and build almost overnight, thereby making it perfect to use after a catastrophe. Bridge Development has a mission to solve the housing problem around the world. “We cannot sit here and wait for the world to go homeless, we need to act now,” says Gaby Strehler, the creator and inventor of Nano house in a recent national radio interview. The option is now available and anyone can afford to own a home.###

Contact:
Nathalie@spika.ch

Additional information:
[url=http://www.bridgedevelopment.org]
[url=http://www.nanolivingsystem.com]

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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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