After Nano, Tata is to make the cheapest apartments in India
Tata, the Indian automobile manufacturer that made headline worldwide for its $2,000 Nano car offer now plans to built 1,000 tiny apartments outside Mumbai to be sold out for as low as cost of $7,800 to $13,400 each. And soon expand this scheme to other major cities of India.
Tata housing division by launching this scheme is catering too overlooked segment of the market by real estate builders that has annual income ranging from annual salary of $6,000 to $10,000. As luxury apartments are quite expensive in Mumbai this scheme would provide them with very good alternative to people earning within that range.
The Tata apartments are to be constructed on 67 acres of land in Boisar, an industrial area where many lower-wage people already reside. However, these apartments would be going to be very short as much as 218 square feet for the smallest unit and 373 square feet for the largest one. This housing community would have their own garden, post office, meeting hall, schools, and hospital.


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