DLF Chairman Rajiv Singh is India’s wealthiest real estate businessman: Report.

New Delhi, May 23 (PTI) DLF Chairman Rajiv Singh has retained his position as the richest real estate tycoon in India, with a net worth of Rs 59,030 crore, according to the Grohe-Hurun India Real Estate Rich List 2023.

The report, which was released on Tuesday, ranked 100 people from 67 companies and 16 cities. It found that the wealth of 61% of the people on the list increased, while 36 saw a decrease in assets. Additionally, 25 new faces joined the list.

Mangal Prabhat Lodha of Macrotech Developers (Lodha Group) and his family were ranked second on the list, with a net worth of Rs 42,270 crore. Arjun Menda and family of Bengaluru-based RMZ Corp secured the third spot with a net worth of Rs 37,000 crore. Chandra Raheja and family of K Raheja Corp secured the fourth position with a wealth of Rs 26,620 crore.

Anas Rahman Junaid, managing director and chief researcher, Hurun India, said that the rise of new entrepreneurs in the real estate sector is evident from the fact that 25% of the people on the list are first-time entrants.

“The real estate sector is one of the most important sectors in the Indian economy, and the rise of new entrepreneurs is a positive sign for the sector,” Junaid said. “These entrepreneurs are bringing new ideas and innovation to the sector, which is helping to drive growth.”

The report also found that Maharashtra and Gujarat accounted for 40% of the wealth on the list. The top 10 cities on the list were Mumbai, Delhi, Bengaluru, Hyderabad, Pune, Kolkata, Chennai, Ahmedabad, Lucknow, and Gurgaon.