Tuesday, May 12, 2009

Industries : Tata Motors

Tata Motors, India's largest automobile company, has unveiled plans to build what might be the world's cheapest high-rise apartments--ranging in price from $7,800 to $13,400.The world might know Tata for its world's most cheapest car called Tata Nano.

The new apartments, sponsored by the Tata Housing Development Company, would be similarly stripped down and basic: Each one between 213 and 465 square feet, which is snug even by New York City standards. But the major amenities are in the community planning, as the development would include gardens, a post office, meeting halls, a school and a hospital. The complex will be on a 67-acre plot in Boisar, an industrial enclave where many working Indians already live. Tata Housing is aiming the apartments at those with annual salaries $6,000 and $10,000 (call center employees, for example, make around $6,500). For potential buyers, they provide a seven-installment financing plan.

Tata Nano was first shown to the public today at the New Delhi Auto Expo and only costs $2,500. It is 3 metres long, seats four comfortably or five at a squeeze, does 65mph and aims to revolutionise travel for millions. The company targeted the market range of India working class.

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