DLF Chairman Rajiv Singh Wealthiest Indian Real Estate Entrepreneur: Report

Realty major DLF's Chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India.

With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Macrotech Developers (Lodha Group) are in the second position.

On Tuesday, the GROHE-HURUN India Real Estate Rich List 2023 was released, which ranks 100 individuals from 67 companies and 16 cities.

As per the report, 61% of the list saw their wealth increase, of which 25 were new faces, while 36 saw their wealth decrease.

As per the list, Arjun Menda and his family of Bengaluru-based RMZ Corp. debuted at the third position on the list, with a wealth of Rs 37,000 crore.

With a fortune of Rs 26,620 crore, Chandru Raheja and the family of K Raheja Corp. have successfully held onto the fourth position.

Hiranandani Communities founder Niranjan Hiranandani was in the 5th position with a fortune of Rs 23,900 crore.

Jitendra Virwani, 57, is ranked sixth on the list with a wealth of Rs 23,100 crore as the founder of Embassy Office Parks.

Vikas Oberoi, the founder of Oberoi Realty, has descended to the seventh position on the list. His wealth stood at Rs 22,970 crore.

With a wealth of Rs 16,110 crore, Basant Bansal and his family of M3M India occupy the eighth spot on the list.

Raja Bagmane, of Bagmane Developers, ranks ninth on the list with a wealth of Rs 16,100 crore.

G. Amarender Reddy & family, the founder and chairman of GAR Corporation, made their debut at the tenth position on the list with a wealth of Rs 15,000 crore.

"The entry point to the top 10 has surged from Rs 3,350 crore in 2017 to a staggering Rs 15,000 crore today. Similarly, the threshold to make it to the top 50 has risen from Rs 660 crore in 2017 to Rs 1,300 crore presently," Hurun India MD and Chief Researcher Anas Rahman Junaid told reporters.

With 25% of the list comprising new entrants, it vividly showcases the burgeoning wealth generated by emerging real estate entrepreneurs, he added.