Tata Group, the Indian company, who is known for creating the cheapest car around the globe, Tata Nano, is now out with the world's least expensive house. And how much money would you need to take out from your bank account, for the basic model of 20 square meters of this ready-to-assemble house? $700 U.S. dollars. 　　The company is planning to make this product available by early next year, with an option of an upgrade. The affordable house, supposedly has a life expectancy of around 20 years.