India currently has 7.96 lakh millionaires, a number that is increasing with each passing year. By 2026, the number is anticipated to double, and real estate is one of the industries that has had the biggest influence on this list. To put it mildly, the list of real estate tycoons in India is remarkable. The sector was undoubtedly harmed by the pandemic, but it is slowly and steadily rebounding. There are currently 10 real estate billionaires in India, according to the most recent Grohe-Hurun India Real Estate Rich list 2022.
So let’s read more about the richest real estate developers in India- know more about their wealth, their business and how lavishly they live their life overall. Happy reading!
Real Estate Tycoon #1: Rajiv Singh
Net worth: INR 61,220 crore
Rajiv Singh- Chairman, DLF Ltd
Rajiv Singh, the CEO of DLF and the wealthiest real estate magnate in India, has a net worth of INR 61,220 billion. Delhi Land and Finance (DLF), along with many other industries like insurance, retail, and hospitality, has made a debut into cricket by acquiring the Indian Premier League (IPL) sponsorship rights. KP Singh, the father of Rajiv Singh, is still the chairman of DLF and has frequently been listed among India's real estate billionaires. KP Singh has also received the Padma Bhushan, one of the nation's highest civilian honors.
Real Estate Tycoon #2: Mangal Prabhat Lodha and family
Net worth: INR 52,970 crore
Mangal Prabhat Lodha- Founder of Macrotech Developers
With a net worth of over INR 52,000 crore, Mangal Prabhat Lodha is one of the richest real estate tycoons in India. He is second on GROHE Hurun India Real Estate Rich List 2021. He laid the foundation of the Lodha group and has since been supported by his family, now being known as Mangal Prabhat Lodha and family. Lodha successfully completed his company’s long pending IPO in 2021. Lodha is behind the building of the very fancy 75-story luxury skyscraper in the heart of Mumbai.
Real Estate Tycoon #3: Chandru Raheja and family
Net worth: INR 26,290 crore
Chandru Raheja- Chairman of K Raheja Corp
One of India's richest real estate tycoons is Chandru Raheja, the 81-year-old Chairman of K Raheja Corp. Diverse office premises of around 20 million square feet have been leased by the company in Mumbai, Navi Mumbai, Pune, and Hyderabad. His sons Neil and Ravi currently lead K Raheja Corp, which recently listed a portion of its commercial properties under the Mindspace Business Parks REIT. These assets are jointly owned by Blackstone, a private equity business.
Real Estate Tycoon #4: Jitendra Virwani
Net worth: INR 23,620 crore
Jitendra Virwani- Co-founder & Chairman of Embassy Group
One of the top business tycoons of South India, Jitendra Virwani owns the Embassy Group and is known to be a pioneer in building warehouses and industrial parks across India. With a total wealth of INR 23,260 crore, Jitendra Virwani is one of the richest real estate developers in India. He owns one of India’s largest private academies, Hill International Hotel.
Real Estate Tycoon #5: Vikas Oberoi
Net worth: INR 22,780 crore
Vikas Oberoi- Chairman & Managing Director of Oberoi Realty
One of India's wealthiest and most well-known real estate tycoons is the property magnate Vikas Oberoi. According to the Grohe-Hurun India Real Estate List 2021, he has an overall net worth of INR 22,780 crore. He has worked hard to establish the Oberoi Realty company he took over from his father, Ranvir Oberoi. He is creating the city's first Ritz Carlton hotel and residences in addition to owning the Westin hotel in suburban Mumbai.
Real Estate Tycoon #6: Niranjan Hiranandani
Net worth: INR 22,250 crore
Niranjan Hiranandani- Co-founder & Managing Director of Hiranandani Group
Niranjan Hiranandani, along with his brother Surendra Hiranandani, established the Hiranandani group in the late 1970s. Extending their presence in commercial, hospitality, residential and educational sectors, Hiranandani has once again made it to the list of one of the richest real estate tycoons in India with an overall wealth of INR 22, 250 crore. Their most prolific projects include the Hiranandani Gardens in Powai and the Hiranandani Meadows and Estate in Thane.
Real Estate Tycoon #7: Basant Bansal and family
Net worth: INR 17,250 crore
Basant Bansal- Founder & Chairman of M3M Group
Basant Bansal, the founder and chairman of the M3M Group, and his family have been listed on the 2021 Grohe-Hurun India Real Estate List and are undoubtedly one of the wealthiest Indian real estate developers. According to the ranking per city, the company dominates Gurgaon and comes in second in Delhi as it slowly takes over the northern region of India. They are renowned for creating high-end residential and commercial projects, and the company also holds the distinction of ranking twelfth in the list's category for "Veterans & Young Companies."
Real Estate Tycoon #8: Raja Bagmane
Net worth: INR 16,730 crore
Raja Bagmane- Founder and Managing Director, Bagmane Group
The Managing Director of the Bagmane Developers group in Bangalore, Karnataka, Raja Bagmane is one of the richest real estate tycoons in India with an overall wealth of INR 16,730 crore as per the Grohe-Hurun India Real Estate List 2021. The company was founded in 1998, the company has led the way in developing office spaces that are classy and stylish. Over the years, they have developed about 15 million sq ft of commercial spaces and are now growing steadfastly.
Real Estate Tycoon #9: G Amarender Reddy & family
Net worth: INR 15,000 crore
G Amarender Reddy - Founder & Chairman, GAR Corporation
With wealth of over INR 15,000 crore, G Amarender Reddy is one of the wealthiest real estate developers in India and the richest one in Telangana. His company, the GAR Group currently owns over 10 million sq ft of office parks in Hyderabad. This family run business was launched in 1982 and now the business is being taken over by the next generation of the Reddy family, Abhinav Ram Reddy, who is a Havard alumnus.
Real Estate Tycoon #10: Ajay Piramal
Net Worth: INR 25,000 Crores
The Piramal Group's chairman is Ajay Gopikishan Piramal. The conglomerate Piramal Group is active in a variety of sectors, including real estate, finance, and medicines. The Piramal Group's real estate division, Piramal Realty, was established in 2012. Anand Parimal founded it, and it has its main office in Mumbai, India. The business strives to produce top-notch quality, uphold safety, and ensure client centricity while also setting gold standards in architectural design.
Over the years, the company has been acquiring high-value land across India. The company won several prestigious awards and accolades, including Hurun Real Estate Unicorn of the Year and Mercer NDTV Employer Excellence Awards in 2017. It also received HT Mumbai Real Estate Awards in 2018. The Piramal Mahalaxmi project of Piramal Realty received the Iconic Project of the Year Award and the Luxury Project of the Year Award in 2022.
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