India’s Richest City Mumbai – With Total Wealth of $820 Billion
India’s financial capital Mumbai which is hometown to 46000 millionaires and 28 billionaires, is the richest city in India with a total wealth of $820 billion, said in a report. According to New World Wealth, Mumbai has been chosen as the richest city in the country followed by Delhi and Bengaluru in the second and third place respectively.
The second position holder Delhi is home to 23000 millionaires and 18 billionaires with a total wealth of $450 billion and Bengaluru with a total wealth of $320 billion houses 7700 millionaires and 8 billionaires. Hyderabad is home to 9000 millionaires, and 6 billionaires and Hyderabad is also included in the list with a total wealth of $310 billion.
In the list, it is mentioned as, Kolkata home to 9600 millionaires and 4 billionaires has a total wealth of $290 billion, Pune with a total wealth of $180 billion which has 4500 millionaires and 5 billionaires. Chennai has 6600 millionaires and 4 billionaires with a total wealth of $150 billion and Gurgaon with a total wealth of $110 billion with 4000 millionaires and 2 billionaires.
Some of the other emerging cities which are included in the list regarding total wealth which includes Surat, Ahmedabad, Visakhapatnam, Goa, Chandigarh, Jaipur, and Vadodara. As of December 2016, the total wealth held in the country amounts to $6.2 trillion and the country is home to 264000 millionaires and 95 billionaires in total.
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The report says, “Over the next decade, India is likely expected to benefit from strong growth in the local financial services, IT, healthcare, real estate, and media sectors. In particular, the local hospital facilities and the health insurance sectors are expected to grow strongly. Bangalore, Hyderabad, and Pune were scheduled to lead the pack regarding wealth growth.”
High Net Worth Individuals (HNWIs) or Millionaires refers to individuals with net assets of $1 million or more.
The report has also mentioned some of the affluent suburbs in the country. In Mumbai localities like Bandra, Juhu, Goregaon, Palm Beach Road, Parel, Worli are popular areas of the richest. Likewise, in Delhi, areas like Westend Greens, Dera Mandi, Greater Kailash, Lutyens are familiar, in Kolkata (Ballygunge, Alipore) and Chennai (Boat Club Road, Poes Garden) are the areas were named for wealthy people.