Wednesday, June 17, 2009

Tata Home: The Future of Real Estate Sector in India?

(This entry was originally uploaded on May 2009.)

India is a vast country but with a population of over 1 billion. Because of poor distribution of national wealth, most people living in Indian cities and towns cannot afford to have a home or apartment of their own. Millions of people live in rented apartments. The price of land and apartment has increased many folds in the last 2 decades in most of the major cities. So, many families have given up the hope of having a home of their own someday. Good news for them is that Tata has come up with a unique concept of small apartments.

Tata is making many small apartments within the price range of $7,800 to $13,400. Most of them will have just one room and the size will be very small- 283 sq ft. Well, many people will surely like the arrangement because they can never dream of buying anything for $8000 in any part of Mumbai. At first, there will be 1000 homes. Well, I would like to call them as apartments or flats instead of homes.

This housing project has come after the successful launch of Tata Nano- the cheapest car in the world.

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