Hyderabad was home last year to 467 ultra-high net worth individuals (UHNIs), making it the second highest in the country after Mumbai where the number of such persons with a net worth of $30m and more stood at 1,596.
Property consultancy Knight Frank in its ‘The Wealth Report 2022’, listing eight cities on the basis on the UHNI they have, said the ultra-wealthy population in Hyderabad is expected to increase by 56% to 728 by 2026. The city’s ultra-rich population in the last five years moved up 48.7% from 314 in 2016 to 467 in 2021.
The number of UHNIs in the eight cities — Mumbai, Hyderabad, Pune, Bengaluru, Kolkata, Delhi, Chennai and Ahmedabad — grew by 11% year on year in 2021, which was the highest percentage growth in Asia Pacific region. India also ranked 6th in terms of growth in UHNIs who are self-made and aged below 40 years. Globally, the number of the ultra-wealthy population saw a year-on-year increase of 9.3% to 6,10,569 in 2021.
