Synopsis: India’s wealth is concentrated in a few major cities, with millionaires steadily rising across urban hubs. This article highlights the top 10 Indian cities with the highest number of millionaires and reveals which city leads the list.
According to recent reports, Mumbai is the leading with 1,42,000 millionaire families next followed by Delhi, Bengaluru, and Ahmedabad. India has become one of the fastest-developing wealth markets across the globe. Hurun report shows that there are over 871,700 millionaire households in the country, and this figure is set to increase by a huge margin in the years ahead.
Why Millionaires are Booming in these Cities:
- Their locations are centred on the cities that have the combination of opportunity, infrastructure, and culture.
- Financial capitals (Mumbai, Delhi) that feature corporate offices, stock markets, trade, and real estate to draw wealth
- Technological startups, biotech, and self-made entrepreneurs are on the rise. (Bengaluru)
- Industrial and entrepreneurial hubs that support family industries, manufacturing, textiles, and the automobile industries.
- Trading and traditional industries have remained the bane of legacy wealth.
1. Mumbai — 1,42,000 Millionaire Homes
Mumbai is the financial hub of India, where the Bombay Stock Exchange, RBI, and the top corporate houses are located, which appeals to the traditional industrialists as well as the contemporary entrepreneurs.
- Top investment sectors considered by millionaires: Finance, Stock markets, Real estate, Bollywood, Retail Industry
- Millionaires: Mukesh Ambani (Reliance Industries), Kumar Mangalam Birla (Aditya Birla Group), Radhakishan Damani (DMart), Uday Kotak (Kotak Mahindra Bank).
2. New Delhi — 68,200 Millionaire Homes
Being the capital city boasts trade, real estate industries, services, and political power, thus making it one of the richest urban hubs in India.
- Top investment sectors considered by millionaires: Real estate, Telecom, Healthcare , Retailing, Technology
- Millionaires: Shiv Nadar (HCL Technologies), Sunil Bharti Mittal (Bharti Enterprises), Sameer Gehlaut (Indiabulls), Dr. Prathap C Reddy (Apollo Hospitals).
3. Bengaluru — 31,600 Millionaire Homes
IT exports, startups, and venture capital in the city, and investments in new ventures, the birth of unicorns can be seen as major reasons behind the prosperity of millionaires in India’s Silicon Valley.
- Top investment sectors considered by millionaires: Information technology, Startups, Biotechnology, Fintech
- Millionaires: Nandan Nilekani (Infosys), Kiran Mazumdar-Shaw (Biocon), Sachin Bansal (Navi, Flipkart), and Binny Bansal (Flipkart)
4. Ahmedabad — 26,800 Millionaire Homes
The entrepreneurial culture of Ahmedabad, a textile hub, and industrial development had fixed its place as the financial hub of Gujarat.
- Top investment sectors considered by millionaires: Textiles, Chemicals, Infrastructure, Energy, Pharmaceutical
- Millionaires: Gautam Adani (Adani Group), Pankaj Patel (Zydus Lifesciences), Samir Mehta (Torrent Group), Sanjay Lalbhai (Arvind Limited)
Also read: Top 8 Indian Cities for NRIs to Invest in Real Estate 2025
5. Kolkata — 26,600 Millionaire Homes
Myriad of Millionaires Kolkata is a heritage wealth city boasting of trading, steel, jute, and tea undertakings, but having a slow pace of industrial modernization as compared to other metropolises.
- Top investment sectors considered by millionaires: Trading, Property and real estate, Manufacturing and steel
- Millionaires: Sanjiv Goenka (RP-Sanjiv Goenka Group), Harsh Vardhan Goenka (RPG Enterprises), Benu Gopal Bangur (Shree Cement), Harsh Neotia (Ambuja Neotia Group).
6. Chennai — 22,800 Millionaire Homes
Chennai is an automobile center in India, which is funded by an industrial cluster, IT service, healthcare, and shipping. Its ports drive global trade.
- Top investment sectors considered by millionaires: Healthcare, Shipping, Automobiles, IT services
- Millionaires: Mallika Srinivasan (Tractors and Farm Equipment), Venu Srinivasan (TVS Group), Kalanithi Maran (Sun Group), N. Murugappa family (Murugappa Group).
7. Pune — 22,500 Millionaire Homes
The prosperity in Pune relies on the production of automobiles, tertiary schools and colleges, information technology services, and the emergence of more startups.
- Top investment sectors considered by millionaires: Automobiles, Education, Information technology, Real estate
- Millionaires: Cyrus Poonawala ( Serum Institute of India ), Baba Kalyani ( Bharat Forge ), Rahul Bajaj family ( Bajaj Auto ), Ashok Kataria (Ashoka Buildcon)
8. Hyderabad —19,800 Millionaire Households
Hyderabad has become one of the main centers of pharma, IT, and biotech. It also has the attraction of global firms through its friendly policies for doing business.
- Top investment sectors considered by millionaires: Pharmaceuticals, Information Technology, Real estate, Biotech
- Millionaires: Murali Divi (Divi with Laboratories), G V Prasad (Dr. Reddy with Laboratories), BVR Mohan Reddy (Cyient), Mahima Datla (Biological E).
9. Gurugram —10,100 millionaires highlighted houses
The fast urbanization of Gurugram made it a corporate city with the best MNCs, IT services, and a flourishing real estate market.
- Top investment sectors considered by millionaires: Real estate, IT service, Finance and startups.
- Millionaires: Rajiv Singh (DLF), Ajay Bijli (PVR Cinemas), Analjit Singh (Max Group), Rohit Kapoor (OYO Leadership)
10. Surat —5,700 Millionaire Houses
Surat is known worldwide for the polishing of diamonds and textile exports, making many of them self-made millionaires
- Top investment sectors considered by millionaires: Investment in diamonds, textiles, and real estate.
- Millionaires: Savji Dholakia (Hari Krishna Exports), Govind Dholakia (SRK Exports), Laljibhai Patel (Dharmanandan Diamonds), Mahesh Savani (Savani Group).
Conclusion
The wealth scenario in India has been changing in an amazing way within the last four years. The Mercedes-Benz Hurun India Wealth Report 2025 suggests that the count of the millionaire households, which is considered households with a net worth of at least ₹8.5 crore, has increased by 90% in 2025 to 8,71,700. This increase highlights a larger trend of wealth democratization, as now affluent households represent about 0.31 percent of the population of the country.
Written By Vijetha Gosi
