The Indian rich- who are they and where do they live?

Mumbai and Delhi are homes to very affluent neighbourhoods, in terms of the number of affluent households

The affluent are those who have a large amount of wealth and spending power. This is also most likely to be reflected in their high-income profile. As is evident, the bulk of the affluent in India reside in urban areas; it is also likely that they are most concentrated in the larger metros.However, that does not imply that the affluent do not exist in other parts of the country.Large rural landowners, agricultural commodity traders, contractors, public servants, or those living in large farms or farm houses in the vicinity of (but not within) large urban centres are spread across India.They tend to travel nationally and internationally, and can access products aimed at them through many different sources.The affluent tend to be very different from those less economicaly fortunate. Affluent households tend to have lifestyles characterized by lesser physical work, greater expenditure on entertainment, less time spent on day-to-day necessities of household chores and occupation. They also have a different disease profile.

Source: City Skyline of India – Neighborhood Series

Demand Curve

Mumbai and Delhi are homes to very affluent neighbourhoods, in terms of the number of affluent households.Oshiwara in Andheri (West) is the richest neighbourhood in India, in terms of the number of millionaire families, with at least 15,000 households having annual incomes of at least Rs10 lakh. In fact, of the top 20 neighbourhoods in India, in terms of number of millionaire families, as many as 18 are in Mumbai.The top ranking neighbourhoods in Mumbai are Oshiwara, Sahar, Walkeshwar, Mahalakshmi, Versova Creek, Chembur West (Golf Club), and Borivali West.The richest neighbourhood (in terms of the number of millionaire households) in other major cities are: Rohini in New Delhi (overall rank 9), JP Nagar in Bangalore (overall rank 42), Adyar West in Chennai (overall rank 48) and Beckbagan-Ballygunge in Kolkata (overall rank 78).There are 166 neighbourhoods in the country’s five major cities that have at least 1,000 households having annual incomes of at least Rs10 lakh (out of a total of 626 neighbourhoods which together make up these five cities). Of these, 37 are from Bangalore, 11 from Chennai, 47 from New Delhi, nine from Kolkata and 62 from Mumbai.In terms of total income (sum total of incomes of all the households), the richest neighbourhood in India is Bhandup in Mumbai, with an aggregate income of a little over Rs6,400 crore. The top 15 neighbourhoods are again all from Mumbai. These include Oshiwara, Sanjay Nagar (Chembur East), Matunga-Sion, Sahar, Dadar Plaza, Chembur West (Golf Club), and Borivali West.Rohini, Preet Vihar, Rithala, Greater Kailash II and Greater Kailash I are the neighbourhoods with the highest incomes in New Delhi.The top neighbourhoods in Bangalore, Chennai and Kolkata are Padmanava Nagar, Thiruvanmiyur (East) and Jodhpur Park-Indian Institute of Chemical Biology, respectively.There are 181 neighbourhoods in the five major cities with aggregate incomes of Rs600 crore or more.Of these, 21 are from Bangalore, 10 are from Chennai, 79 are from New Delhi, two are from Kolkata and 69 are from Mumbai.Demand Curve is a weekly column by research firm Indicus Analytics Pvt. Ltd on consumer trends and markets.

As is evident, the bulk of the affluent in India reside in urban areas; it is also likely that they are most concentrated in the larger metros.