Finally the time has come to drive Tata Motors much awaited and the world's cheapest family car ‘Nano’.

Today, the company announced that it will roll out ‘Nano’ on March 23 in the Mumbai market.

The launch would happen at a function to be held in Mumbai.

The company also said that the bookings for the car will start from April 2009.

In a major declaration, the company said, “The cars will be on display at Tata Motors dealerships from the first week of April 2009. Bookings will commence from the second week of April 2009.”

The company also said that the booking procedure and other related information of the car would be announced at the launching function.

“Tata Motors is making arrangements for the widest possible network to book the car, so that prospective customers can conveniently avail of booking facilities at their locations, across the length and breadth of India,” the statement added.

Initially, the Rs 1 lakh car was unveiled at the auto expo in Delhi during January last year (2008), and was scheduled to go on sale by October 2008, but problems with the main plant site postponed the launch.

The company had also exhibited the ‘Nano’ at the Geneva Motor Show in 2008, and had activated rivalry, including Nissan-Renault, to declare plans for constructing low-priced family cars.

The economic crisis has, however, forced them to put the plans on hold.

At 2:20 p.m., the stock of the company (Tata Motors) surged 3.32% to Rs 144.50 on the Bombay Stock Exchange (BSE).