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HindustanTimes Mon,21 Apr 2014

Faridabad houses India's richest zones

HT Correspondent, Hindustan Times  New Delhi, January 08, 2012
First Published: 22:23 IST(8/1/2012) | Last Updated: 01:15 IST(9/1/2012)

Not the national capital's Aurangzeb Road, home to real estate tycoon KP Singh. Not Bangalore's Sarjapur Road, home to India's software czar Azim Premji. India's most affluent neighbourhoods are Faridabad's sectors 14, 15, 16, 16A and 17 (average household income: Rs. 22.96 lakh); Mumbai's Walkeshwar (Rs 18.17 lakh); and Noida's sectors 19 and 27 (Rs 18.14 lakh). These are areas with the highest household income -total annual income earned by all households divided by total number of households.

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And perhaps not so surprisingly, the least affluent neighbourhoods were in Kanpur, Patna and Bhopal.

For its study, research firm Indicus Analytics collated data from several organisations - National Sample Survey Organisation, National Data Survey of Savings Patterns of Indians, District Level Household Survey, Registrar General of India, National Account Statistics, Central Statistical Organisation and Reserve Bank of India.

The survey by Indicus Analytics included 50 cities across India.

If you are surprised at the exclusion of posh and upmarket locales such as Aurangzeb Road in New Delhi from the top of the list, just look around. The clusters of low-income households, and sometimes slums, that abut these areas bring down the average houshold income for the entire municipal ward in which they figure. This explains why some of the better known locations in Delhi, Mumbai or Bangalore don't figure among top locales.

Look-rich areas may not be where the wealth is

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