Nano Housing [Tata]

Tata, the India-based car company that launched the Nano (INR 100,000; USD 2300) car and owner of Jaguar and Land Rover is now looking to create low-cost housing. With 1,000 apartments to be built outside of Mumbai, the units range from 218 to 373 feet.

According to businessweek:

Tata’s housing division is targeting a segment of the market that was largely overlooked during the housing boom. India’s builders were concentrating on building shiny new high rises and mansions on golf courses. Builders were after profits, but they were also trying to justify their fast-accelerating land costs, especially in and around Mumbai (formerly known as Bombay) and other major cities.
But some business consultants (most prominently, C.K. Prahalad) were arguing that companies would profit handsomely if they target the “bottom of the pyramid” where the bulk of consumers are. It looks like Tata is taking that advice.

HT: Freakonomics