Wealthiest Indian Cities: No. 1 Mumbai is Home to 28 Billionaires

Mumbai, India’s financial hub, leads the nation’s wealth rankings with a staggering total wealth of $820 billion, housing 46,000 millionaires and 28 billionaires, according to a report by New World Wealth. High Net Worth Individuals (HNWIs), defined as those with net assets of $1 million or more, are concentrated in affluent suburbs. In Mumbai, the wealthiest areas include Bandra, Juhu, Goregaon, Parel, Worli, and Palm Beach Road.

Following Mumbai, Delhi and Bengaluru secure the second and third spots respectively. Delhi boasts a total wealth of $450 billion, accommodating 23,000 millionaires and 18 billionaires. In Delhi, the richest localities are Westend Greens, Dera Mandi, Greater Kailash, and LutyensBengaluru, with $320 billion in total wealth, is home to 7,700 millionaires and 8 billionaires.

Hyderabad also features prominently, with a total wealth of $310 billion, hosting 9,000 millionaires and six billionaires. Kolkata follows with $290 billion in total wealth, 9,600 millionaires, and four billionaires. Kolkata’s affluent areas are Ballygunge and Alipore. Pune’s wealth stands at $180 billion, with 4,500 millionaires and five billionaires, while Chennai has $150 billion in wealth, 6,600 millionaires, and four billionaires. Chennai’s wealthiest areas include Boat Club Road and Poes Garden. Gurgaon rounds out the list with $110 billion in wealth, 4,000 millionaires, and two billionaires.

Emerging cities in terms of wealth include Surat, Ahmedabad, Visakhapatnam, Goa, Chandigarh, Jaipur, and Vadodara. India’s total wealth amounts to $6.2 trillion as of December 2016, with the country hosting 264,000 millionaires and 95 billionaires.

The report forecasts robust growth for India over the next decade, driven by local financial services, IT, real estate, healthcare, and media sectors. Hyderabad, Pune, and Bengaluru are expected to lead in wealth growth, particularly in the hospital services and health insurance sectors.

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