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Tata Building $7,800 Apartments in Mumbai
theodp writes "What do you do for an encore after you've shown the world it's possible to build a $2,000 car? Ratan Tata, head of India's giant Tata conglomerate, now plans to build, 30 miles outside of Mumbai, 1,200 tiny apartments that will sell for $7,800 to $13,400 each. Sure, they're small (floor plans), but keep in mind that you can pay a quarter of a million bucks for a 250-sq.-ft. studio in the East Village. Time reports that Tata has had to beef up security to handle the rush of buyers who want to plunk down their $200 deposits (yes, that's two hundred dollars!). Who would've thought you could make IKEA homes look pricey?" The Businessweek.com article says that the apartments are aimed at someone making $6,000 to $10,000 per year (Time says $5,000). In Mumbai, a call center operator with 10 to 20 years of experience barely qualifies at $6,400 annually. 70% of the country's 1.2 billion people live on 1/20 as much.
unsafe
As safe or safer than a motorcycle or bicycle. The word "unsafe" is thrown around all the time without regard for alternatives and real-life trade-offs.
Social scientists are inspired by theories; scientists are humbled by facts.
This is one the the wisest investments Tata has ever made, and will fill an important niche in Indian urban living.
The economic difference between the rich and the poor is so vast, that if you are making 10k+ a year you are very rich by a normal villager's perspective...the problem is unless you are living in a rural area, there are not many places for you to live unless you want to live other than the slums or in a wealthy neighborhood.
Of course this is just a generalization, but if you ever go to India, and truly experience it outside of the MNC bubble, you will see why something like this is needed.
-n00b
safe is the biggest marketing scam in western society. SUVs were born to market safe vehicles for hockey moms, desire for safety got Bush re-elected.