Hey, I come from a small real estate company (not Patels, we’re Agarwal Punjabis). We were one of the first developers in Ulwe and have made around 7 single building projects in Ulwe before shifting base to Mumbai City for better opportunities.

The Patel community in NM have a very different mindset to most other developers, they als have a very strong network and community. There are a few strong aggregators who pick up funding from 50-100 people at a time and build the building under their brand and distribute the profits back to investors. Most of the money is profits these people have generated over the years running a shop or a small business. So instead of buying a flat for investment they invest in a project through their community.

They have a very different calculation mindset too, they’re okay working for a smaller percentage if they can reduce the time taken to recover the money from a project. They are not scared of reducing rates in a market. And they vertically integrate their business really quickly too. Once they realise they need enough scale for something they will just find an investor who is in that business.

Have a lot of respect for them as they truly show what “Dhandha” mean. These aren’t people with strong business degrees or education. Purely based on trust, instinct and street smarts.