The Nano Apartment

by Richard Florida

Tata - the Indian mega-conglomerate that launched the $2,000 car - has created a housing division which is building new apartments ranging from $7,800-$13,400 dollars outside Mumbai (pointer via Planetizen). Business Week's Prashant Gopal explains:

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 ... Luxury flats in Mumbai can cost more than ones in Manhattan. But these apartments won't be luxurious. The Tata apartments will be built on 67 acres in Boisar, an industrial area where many lower-wage commuters already rent. These apartments will be absolutely tiny. The carpeted area of the smallest units will be 218 square feet, too small even for most Manhattanites. The largest units would be about 373 square feet. 

Check out the pictures, floor plans, and payment plans here.