Tata Housing managing director and CEO Brotin Banerjee in Mumbai on Wednesday. (PTI)

Mumbai, May 6: Other Tata group companies are clambering on to the Nano bandwagon.

After Tata Motors unveiled the world’s cheapest car, Tata Housing Development Company, the property development arm of the $62.5-billion Tata group, has proposed a low-cost housing venture.

Targeted at the bottom of the pyramid, Tata Housing is offering value homes priced between Rs 3.9 lakh and Rs 6.7 lakh in an integrated township format at Boisar, about 100 kms from Mumbai.

The project has been branded “Shubh Griha”. Plans are afoot to put up low-cost townships in other Tier I and Tier II cities, including the National Capital Region, Bangalore, Chennai and Calcutta.

The Boisar project will offer dwelling units in three sizes — a one room and kitchen home of 283 sq ft, a larger version of 360 sq ft and a one bedroom, living room and kitchen of 465 sq ft, according to a company press release.

Announcing the launch of “Shubh Griha”, Brotin Banerjee, managing director and chief executive officer of Tata Housing, said. “This is in continuation of the group’s commitment to provide quality, innovative products to the common man. Our study shows that around 48 per cent of the people in the lower segment are currently staying in rented accommodation.”

Applicants can pick up forms priced at Rs 200 from the branches of the State Bank of India. According to the company, bookings should be made within 20 days of buying the application form along with the initial booking amount of Rs 10,000 through a bank pay order at select branches of the SBI across Mumbai.

The first list and the waiting list will be declared after 15 days of the final booking after which allotment letters will be sent by Tata Housing along with the payment schedule.

The Boisar township will offer a mix of buildings and open spaces. It will have large, centralised and accessible open spaces, recreational facilities, a hospital, school and a community hall.