City-based real estate developers had the wind taken out of their sails when they read news about TATA's apartmentsthat cost a mere Rs. 4 lakhs. The flats, constructed by Tata Housing, the real estate development arm of the Tatas, are the studio type with one-room-kitchen which cost a mere Rs 4 lakhs. The first township of this nature is being developed at Boisar, 100 km from Mumbai. Tata conglomerate plans to develop the township within 24 months and allotment of flats would made through lottery. This news made a hunge dent into the minds of the Hyderabadis who now feel that Rajiv Gruhakalpa apartmenst are way too expensive, when comapred to the flats in Bosiar. Software employees are now planning a chain mail to Brotin Banerjee MD of TATA Housing requesting him to initaite measures for a similar project in the suburbs of Hyderabad. With industrial conglomerates entering realty first it was the big local developers who felt the pinch and now with TATA's the small developers too will be driven out.
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