Wealthy Indians: Real Estate, Habits, and News Sources
Delivered March 20, 2020. Contributor: Mik W.
This research aims to identify the following:
1. To identify 2-3 additional insights on wealthy Indians.
2. To create a demographic analysis of wealthy/rich Indians.
3. To provide 2-3 insights on the main news sources in India.
Rich Indians and Investments
According to a survey by Hurun India, India's rich are most likely to invest more in the real estate sector in the next three years. "Over 30% of those surveyed said that they will make more investment in real estate, for about half of them, investment in real estate is to retain the status quo."
Some of India’s richest individuals consider gold to be the second safest asset option, followed by fixed income and deposits.
Rich Indians and Real Estate
According to a ‘GROHE Hurun India Real Estate Rich List 2019', almost 75% of the richest Indians from the real estate sector are based in Mumbai, Delhi, and Bengaluru. "Mumbai accounted for 6 of the top 10 and 37 of the 100 names being its residents. Delhi and Bengaluru accounted for 19 residents each featured on the list."
"Around 59% of the individuals mentioned on GROHE Hurun India Real Estate Rich List 2019 are first-generation entrepreneurs. The average age of the individuals on the list is 59. Six individuals under the age of 40 and three above the age of 80 also made it to the list."
The wealth of rich real estate tycoons in India increased to 27% in 2019.
According to Knight Frank, the "US and UK are of high interest for the India ultra-rich, from business as well as leisure and lifestyle purposes."
India's high net-worth-individuals (HNIs) prefer buying property in central London. These properties are mainly for personal use(such as a holiday home or a transit residence while on business trips).
The Economic Times (ET) is India’s fourth-largest English newspaper with a total readership of 3.7 million readers.
Hindu Business Line, Business Standard, Mint, and Financial Express have a total readership of less than 2.4 million.
For readers of the Economic Times, "over 75% have come from the NCCS A socioeconomic category and over a third of their new readers belong to the NCCS A1 category. 80% of ET’s total readers belong to the NCCS A category."
For this hour, we tried identifying as much of the requested information as possible. We were able to identify some additional insights on India's rich, their real estate investment habits, and also found insights on the main news sources in India.
The New Consumer Classification System (NCCS) is India's industry standard used to classify households in India, with category A being used to categorize professionals or the elite. Based on India's readership statistics, it is likely that non-resident Indians and wealthy Indians read the Economic Times. The Times of India and The Hindu are also the top two media sources, and it is also likely that non-resident and wealthy Indians read these two newspapers to stay updated on Indian news.
Exact statistics on the average number of properties wealthy Indians own did not appear immediately available in this search.
We can continue the research to focus more on demographics and general consumer habits, we also came across additional insights and statistics on the readership of India's top newspapers, which might also be of interest.
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