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TATAS GO NANO WAY WITH LOW-CAST APARTMENTS
 
After The affordable car Nano and no-frills hotel chain Ginger, it is now time for low-cost homes starting at under Rs. 41akh from the House of Tatas.
 
The Tatas have entered untapped low-cost housing with ambitious growth plans, perhaps inspired by management guru C.K. Prahalad, the author of "The Fortune at the Bottom of the Pyramid" who played a role in the launch of the Ginger chain.
 
Tata Housing, a subsidiary of Tata Sons and the group's real estate arm, has launched Shubh Griha, whose first project is coming up on a 67-acre patch at Boise, an industrial area 120 km away from South Mumbai.
 
"We have been working on this project for last 18 months and we see a huge opportunity in value homes. It will be one of our thrust areas," said Brotin Banerjee, Tata Housing's managing director
 
The company expects a "handsome profit" with a turnover of Rs. 100 cr in the 7-acre first phase, Banerjee said. The larger development will include play areas, schools and hospitals.
 
A 283-square-feet one-room and kitchen flat has been priced at Rs 3.9 lakh while it would cost Rs 6.71akh for 465-square feet flat with a ... more

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