A new study by Kotak Wealth Management, as reported in The Hindu, has found that the number of ultra-high-net-worth households in India rose 17% over the past year, with a compounded annual growth rate of 22% over the past five years. Indian UHNHs, defined as households with a net worth higher than Rs.25 crore (about US$3.825 million) excluding their primary residence, have now reached 137,000. More: Indian Luxury Home Buyers Go Global Kotak’s study predicts that India’s HNWHs’ net worth will see a compounded annual growth of 26% over the next five years from Rs.128 lakh crore (about US$1.9 trillion) in fiscal year 2015 to Rs.415 lakh crore (about US$6.4 trillion) by 2020. [The Hindu]View full listing (pictured top)More: What Drives the Ultrarich to Purchase Abroad?
Ultra-High-Net-Worth Households on the Rise in India
UHNHs saw a 17% growth over the past year
The exterior of the Four Seasons Private Residences Mumbai (left), which will feature 26 limited edition luxury homes.
Rendering: NORTH INDIA SOTHEBY'S INTERNATIONAL REALTYThe exterior of the Four Seasons Private Residences Mumbai (left), which will feature 26 limited edition luxury homes.
Rendering: NORTH INDIA SOTHEBY'S INTERNATIONAL REALTY