You’ve seen Mahindra Nano houses and Tata Nano houses. Now this is not such as cheap housing project but still is a lot cheaper compared to current day’s projects. Mahindra Lifespace is planning is build Cheap housing projects that would be priced less than Rs.10 lakhs in Metro cities or between Rs.5 and 7 lakhs in 2 and 3 tier cities.
These houses would be built in areas near to transport centres’, Job centres’ so that occupiers don’t need to travel much distance on a daily basis.
There are different theories describing a cheap housing project but according to Arun K Nanda, Chairman of Mahinda Lifespace Developers (MLD), a project constructed with an expense Rs.700-800 per square feet should qualify as a cheap house.
Although no roadmap has been provided by MLD, he says that they are planning to construct flats of 400-450 sft space.