CHENNAI: Chennai’s share of the country’s ultra-rich individuals nearly quadrupled over the past decade, according to the 20th edition of The Wealth Report published by real estate consultancy firm Knight Frank.
The state capital now accounts for 4.8% of India’s ultra-high-net-worth individual (UHNWI) population - those with assets exceeding $30 million (Rs 280 crore) - up from 1.3% in 2015, reflecting rising wealth creation alongside economic expansion in regional centres, the Wealth Report 2026 released on Thursday stated.
India’s UHNWI population grew 63% between 2021 and early 2026 to 19,877, driven by gains across technology, industrial and capital markets. The country now ranks sixth globally by ultra-wealth population, with numbers projected to rise a further 27% to 25,217 by 2031, according to Knight Frank’s wealth sizing model.
While Mumbai continues to dominate with a 35.4% share of India’s ultra-rich individuals, the report points to a gradual broadening of wealth distribution.