Friday, May 08, 2009

Nano homes

Is an idea whose time has come. Low budget houses for 4 lakhs or thereabouts. Now, of course, they are not in Sadashiv Nagar or Malabar Hill - they are some distance away from the city. It is an idea whose time has come - once again, not because of any government, but because of private initiative. 

In an age where real estate prices have kept going higher and higher, the only way to bring it down is by "urban sprawl" and that means big cities, good public transport. Otherwise demand will keep going up, supply will never increase leading to a Bombay style pricing for houses and rents. It is good to see Tata realize this. I am pretty sure their Boisar project will be lapped up. This needs to happen in other cities too.

Yes, yes, I can see people complaining, but read this old post by Ravikiran before you draw your conclusions.

Now, for the Tatas, this is smart. They have their finger in public transport, real estate as well as Nano transport. (Therefore, they are betting on urban sprawl?)

2 comments:

Kavi said...

This was indeed a smart move ! At the least it can have a rub off on the car ! at the least ,that is !

Rangachari Anand said...

It is interesting that India and US have gone through similar housing issues. Here in the US, in recent years, builders have constructed a large number of luxury homes that no one can afford to buy.