Tatas' nano housing plan takes off in style

Tata Group has sold around 3,500 application forms for its low-cost housing project, Shubh Griha near Mumbai, in the first two days of booking, three-and-a-half times the number of apartments the company is planning to build under the project, a company executive said.

The pricing of the project has taken many by surprise. Its Shubh Griha website has received 15 lakh hits in four days since announcement of the project. This includes 6.7 lakh hits from the US and 3.3 lakh hits from India, as per the executive.

“The response only reflects the huge demand for housing in that segment,” Tata Housing managing director Brotin Banerjee said, adding that the company had already sold off all printed forms in just two days. Ten branches of State Bank of India started selling forms across Mumbai on Monday.

The bank branches located in the western suburbs linked to Boisar have seen better sales of application forms, a senior marketing executive said, adding that the company was receiving enquiries from many other cities, including Delhi and Bangalore.

Source: Economic Times