• Allison McMIllian

Container apartments being built in Bangalore, could solve housing problems

Most big cities across the world have the same problem of inadequate housing. The city of Bangalore in India, for example, attracts thousands of graduates and young professionals each year but cannot seem to keep up with the number of people needing housing. Two geniuses came up with an idea for a solution in February 2016.

Hemant Attray and Rajesh Kotta founded SquarePlums to provide affordable housing. Once they started the company and began building their container apartments, they couldn't even keep up with customer demand.

"Whenever we open up a new property... immediately there is a kind of mad rush," Attray told CNNMoney.

It usually takes up to three years to construct a new building, but they can do it in two weeks by basing them on custom shipping containers.

The studio apartments measure around 200 square feet. Several of these tiny homes can be made at a time. They can also be stacked, which can make a 50-unit apartment complex in two months. SquarePlums has already started on one of their apartment complexes and is planning to unveil it next month. The rent for one of these apartments is $280, or 18,000 rupees.

The apartment is made to withstand India's crazy heat. The apartment can double as an office, as well, because the bed folds up into a couch, and the dining table can turn into a desk.

"If I were to just blindfold you, take you inside one such home and open your eyes, you won't realize that you are inside a container," said Attray.

SquarePlums wants more feedback before it expands to other cities around India.