Delhi has India's 2nd highest number of super-rich

Mumbai has the maximum number of high net worth individuals (HNWIs) in India (2,105 such people call the city home), followed by Delhi (1,945). Vandana Ramnani reports.

Updated on: Mar 8, 2013, 08:12:39 IST

Hindustan Times | By Vandana Ramnani, New Delhi

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Mumbai has the maximum number of high net worth individuals (HNWIs) in India (2,105 such people call the city home), followed by Delhi (1,945).

Globally, these two cities rank No. 7 and No. 11, respectively, on the number of super-rich people staying there, according to global property consultant Knight Frank’s The Wealth Report, 2013. New York and London, with 7,580 and 6,015 HNWIs, respectively, occupy the first two positions.

Knight Frank has set a threshold personal wealth of $30 million (about Rs 164 crore) for inclusion in this exclusive list.

“The number of HNWIs in India is expected to more than double over the next 10 years, rising 137% (to 4,988) in Mumbai alone. This will give India, along with China and Japan, the highest number of HNWIs in Asia by 2022,” the report, released in London recently, said.

Delhi’s HNWI population is expected to grow 120% to 4,278 by 2022.

If you think property prices in India are too high, consider this: luxury properties in Mumbai (ranked 16th most expensive in the world) cost on average $990-1,100 (Rs 54,000-60,000) per sq ft.

This is way below comparable prices in second-ranked Hong Kong ($4,570-5,050 or Rs 2.5 lakh-2.75 lakh per sq ft) or third-placed London ($3,890-4,300 or R2,12 lakh-2.35 lakh per sq ft).

Delhi doesn’t even rank among the top 20. Monaco has the world’s most expensive luxury properties ($5,350-5,920 or Rs 2.92 lakh-3.23 lakh per sq ft).

The report is expected to be released in India on March 15.

ABOUT THE AUTHOR
Vandana Ramnani
Vandana Ramnani leads the real estate vertical at Hindustan Times Digital, bringing over two decades of journalism experience across real estate, education, human resources, and foreign affairs. She specialises in India’s real estate sector, covering residential and commercial markets in Delhi-NCR, Mumbai, and Bengaluru, with in-depth reporting on regulatory developments, urban policy, housing trends, and interviews with industry leaders. Her work has also appeared in the Hindustan Times newspaper and HT Estates. Earlier, Vandana played a key role in establishing the real estate vertical at Moneycontrol (NW18 Group), shaping its editorial direction and market coverage. She has also written extensively on international education for HT Education, tracking global study destinations, policy changes, and student mobility trends, earning the Singapore Education Award 2009 for Best Media Coverage (Print). Her reporting portfolio includes human resources and employment trends for HT ShineJobs and PowerJobs, as well as lifestyle and interior design features for HT Premium Homes. Vandana began her career with the Press Trust of India, gaining strong editorial and reporting expertise. She was also selected for a prestigious fellowship at Fondation Journalistes en Europe in Paris, where she wrote for EuroMag. One of her notable reporting assignments included covering Germany’s capital relocation from Bonn to Berlin. Outside of journalism, Vandana is a passionate traveller, constantly seeking out charming hideaways across India and the lesser-known, offbeat corners of Southeast Asia.Read More

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