INDIAN REAL ESTATE RICH LIST
As the year comes to a close, here’s a look at the country’s richest real estate developers.
Total wealth of top 100 Indians in the real estate sector stood at Rs 277,080 crore – up 17 percent against 2018 with Mumbai, New Delhi, and Bengaluru being home to 75 percent of the Hurun India Real Estate Rich List 2019.
The third edition of the real estate rich list highlights two major transformations defining the sector.
- More weightage is being given by the buyers and lenders to players who value accountability, transparency and institutional approach.
- The names on the rich list are not on it, merely because they created wealth for themselves, but for the stakeholders they cater to through their companies
The combined revenues of the companies in the List grew by 17 percent. The data seemes to indicate that established players are registering a strong performance in the adverse market condition. One could expect consolidation of the sector in the short term.
Despite all the news of slowdown in the sector, the average wealth of Indian realtors has increased by 16 percent. Total wealth of top 100 Indians in the real estate sector stood at Rs 277,080 crore – up 17 percent against 2018.
Maharashtra tops the Rich List with 43 real estate entrepreneurs, followed by Delhi and Karnataka with 19 individuals. Among cities, Mumbai leads the list with 37 individuals, followed by New Delhi and Bengaluru tied at 19 residents each.