India’s ultra-rich population set for further surge

29 Apr 2026 CW Team

Knight Frank has released the 20th edition of The Wealth Report, showing strong global wealth creation despite geopolitical and economic uncertainty. The global ultra-high-net-worth individual (UHNWI) population, defined as those with assets above USD 30 million, rose by 162,191 between 2021 and 2026 to 713,626.

India’s UHNWI population increased 63 per cent over the same period, rising from just above 12,000 to 19,877, making the country the world’s sixth-largest hub for ultra-rich individuals. Knight Frank forecasts this number will grow a further 27 per cent to 25,217 by 2031.

Mumbai remains India’s largest wealth centre, accounting for 35.4 per cent of the country’s UHNWI population. Delhi and Chennai increased their share by 3 per cent over the past decade, while Hyderabad gained 1.3 per cent since 2015.

India’s billionaire count rose 58 per cent in five years to 207 in 2026, ranking third globally behind the United States and China. This figure is projected to rise 51 per cent to 313 by 2031, increasing India’s share of global billionaires from 6.7 per cent to 8 per cent.

In luxury housing, Bengaluru jumped to eighth place in Knight Frank’s Prime International Residential Index after a 9.4 per cent rise in prime residential prices in 2025. Mumbai ranked tenth with 8.7 per cent growth, while Delhi moved to seventeenth after a 6.9 per cent increase.

Monaco remained the world’s costliest prime residential market, where USD 1 million buys only 16 sq m. In comparison, the same amount buys 96 sq m in Mumbai, 205 sq m in Delhi and 357 sq m in Bengaluru.

Infrastructure Transport

15 May 2026

MMRDA Removes 1.14 lakh m of Metro Barricades

In a bid to ease congestion and improve urban mobility during monsoon, MMRDA has undertaken one of the largest coordinated barricade removal and monsoon preparedness drives across its ongoing metro and infrastructure projects.With substantial progress achieved in viaduct and structural works across multiple metro corridors, barricades from completed stretches beneath metro viaducts are being systematically removed, restoring maximum possible road space before the monsoon. Wider carriageways across key arterial roads are expected to improve traffic flow, reduce congestion, support better rainwa..

Pune Division to Remove All Diamond Crossings by Year-End

The Pune railway division has announced plans to remove all 16 diamond crossings by the end of 2026 as part of a major yard remodelling project following the derailment of a Vande Bharat Express at Pune Junction on April 27. Railway authorities said the replacements aim to improve safety and streamline train operations across the busy station. The decision followed a Central Railway finding that the accident involved a non-standard diamond crossing and highlighted the need for replacement. Regular maintenance of existing crossings will continue until the replacement work is completed. Official..

Goa Declares 80 Million Square Metres No Development Zone

The Goa state government has declared 80 million square metres (mn) of land a no development zone, designating the area as protected from new construction. The notification reclassifies tracts across the state under a no development category for planning and regulatory purposes. The declaration signals a formal halt to new building permits within the defined zone. Authorities indicated that maps will be issued to show broad boundaries while detailed surveys will refine precise limits. The move transfers responsibility for enforcement to local planning authorities and relevant departments, whic..