Raj Shah, 29, is not your typical Indian estate agent.
Soft-spoken and articulate, he is on a quest to find "method in the madness" in the US$66 billion (Dh242.43bn) Indian property industry.
"The Mumbai property industry is huge. However, it lacks a systematic perspective," says Mr Shah, while sipping his iced tea.
He joined his family-owned business, Square Feet Realty Consultants, in 2008 after working at India's popular matrimonial website Shaadi.com.
He has watched the property industry change over the years.
"Hundreds of families come to Mumbai every month. The biggest problem of the industry is basic - there is a limited supply but unlimited demand.
"The city is growing at a rate faster than the rate of infrastructural development," he says.
"Typically a person should be able to buy an apartment in two year's worth of income, but even a 1BHK [one bedroom, hall and kitchen apartment] in South Mumbai can cost as much as 4 Indian rupee crores [Dh2.8 million].
"People can't afford to buy property in Mumbai, so they end up renting."
But renting in this city of dreams is not easy either - apartments are small and rents are going through the roof. Finding a good apartment requires a lot of patience, good connections and a capable agent.
"In this industry anyone can become a property agent. There are multiple agents in each locality and sometimes there are two or three agents in just one lane. The agent network is highly competitive and complicated and agents are overloaded with work, trying to seal a deal before someone else does. The product is more important than the service. So, often, agents tend to be unprofessional," Mr Shah says.
For Square Feet, the internet is one of its main tools. Its six-staff service works with connecting to other estate agents in different localities .
Convinced of the power of the digital medium since his Shaadi.com days, Mr Shah aims to one day open online. "We are working on creating a property portal where people can find a suitable property online, thus cutting short the lead time of finding an apartment drastically."
He is particularly pleased with a 2BHK rental deal he has recently closed in the Beaumonde Towers in the posh locality of Prabhadevi.
With a monthly rental of $4,800 and a deposit of $27,300, on site amenities include six swimming pools, tennis courts and even a mini theatre. But what does one find in this city on a monthly budget of say $117?
Mr Shah looks stumped. "Even a 1BHK in the district of Thane [an hour's train ride from central Mumbai] would cost $156 per month."
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Honeymoonish
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The biog
Name: Ayisha Abdulrahman Gareb
Age: 57
From: Kalba
Occupation: Mukrema, though she washes bodies without charge
Favourite things to do: Visiting patients at the hospital and give them the support they need.
Role model: Sheikha Fatima bint Mubarak, Chairwoman of the General Women's Union, Supreme Chairwoman of the Family Development Foundation and President of the Supreme Council for Motherhood and Childhood.
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
PSA DUBAI WORLD SERIES FINALS LINE-UP
Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)
Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)
Read more about the coronavirus
Voy!%20Voy!%20Voy!
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
ELECTION%20RESULTS
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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