The fourth edition of the GROHE Hurun Real Estate Rich List 2020 is a ranking of India's most successful real estate entrepreneurs and inheritors, as of December 31, 2020, ranked by net worth proportional to their ownership in their respective real estate companies.
The wealth of 65% of those on the list increased, with 27 of them being newcomers. There was a 33% drop-off in fortune, and there were 27 drop-offs. The average age is 60 years old.
Mangal Prabhat Lodha & family, 65 of the Lodha Group, are the richest people on the GROHE Hurun India Real Estate Rich List 2020 for the fourth year in a row, with a fortune of Rs 44,270 crores.
Rajiv Singh, 61 of DLF, was ranked second on the list, with a wealth of Rs 36,430 crores and a 45% increase in wealth, backed by a 50% increase in DLF's share price.
Chandru Raheja & family, 80, of K Raheja Corp, moves up two spots to third place in the GROHE Hurun India Real Estate Rich List 2020 with a 70% rise in wealth and current wealth of Rs 26,260 crores.
Jitendra Virwani, 54 of Embassy Office Parks, ranks fourth on the list with a fortune of Rs 23,220 crores. Embassy Group is India's first Real Estate Investment Trust, founded in 1993 and headquartered in Bengaluru.
Niranjan Hiranandani, 70, of Hiranandani Communities, is in fifth place, with a real estate company valued at INR 20,600 crores. Vikas Oberoi, 51, of Oberoi Realty, is ranked sixth on the list with a 13% increase in wealth to INR 15,770 crores. Bagmane Developers' Raja Bagmane, 61, is ranked seventh on the list.
Subhash Runwal & family, 77 of Runwal Developers, moves up one spot to eighth place on the list, with a wealth of Rs 11,450 crore and a 61% rise in wealth. Ajay Piramal & family, 65, of Piramal Realty, go up one spot to ninth on the list, with a fortune of Rs 6,560 crores.
Atul Ruia & family, 49, of Phoenix Mills, are ranked tenth on the GROHE Hurun Real Estate Rich List 2020, with a fortune of Rs 6,340 crores.
Real estate and infrastructure are unquestionably two of the most important economic indicators. The development and growth of the real estate sector cannot be overlooked if India is to achieve its goal of becoming a USD 5 trillion economy.