When we talk about the cities with the highest number of richest persons in India, the names of financial capital Mumbai, national capital Delhi, IT Capital Bengaluru, shore city Chennai and automobile and manufacturing hub Pune flash in our minds.
While people have guessed about Mumbai correctly, Telangana capital Hyderabad made it to the second place in the list of Indian cities with the highest number of rich persons. Beating other cities, Hyderabad stood at the second position.
A popular firm that tracks the details of the richest persons in India has issued a report on the cities that have the richest persons. The firm said that the count of the richest people in Hyderabad has been growing for the past few years.
With the steady rise, the count of rich individuals in the pearl city Hyderabad had reached close to 500 with as many as 467 ultra-high net worth individuals. The gap between Hyderabad and Mumbai is quite high and the Maharashtra capital has 1,596 rich people.
The firm said that the rich population saw a rise by more than 10 percent in the country in the financial year with a few sectors seeing massive profits. Coming to the scenario of Hyderabad, the sectors information technology, pharmaceuticals, and biotechnology played a big role in increasing the rich population.
The rich category mentioned by the firm is of individuals who have a net worth of $30 million, which translates to more than Rs 225 crore. The rich individuals come under the ultra-high net worth individuals category or UHNWIs.
Compared to the previous year, the rich population went up by 11 percent in India, while Hyderabad saw a rise in the same population by around double the percentage of the country.
Looking at the other cities, It Hub Pune, Bengaluru, Kolkata, Delhi, Chennai, and Ahmedabad are in the next positions with a rich population of 360,352,257, 210, 160, and 121 rich people respectively.
There are also a few commonalities among the rich people across the cities in the country. Their major share of net worth goes into the real estate sector as investments, while they also purchase luxury vehicles and costly items.
