Gurgaon most prosperous city in India, Chennai second: Report
Jan 16, 2014
Source : The Times of India


GURGAON: Credit rating agency Crisil has confirmed what many had suspected for long: that newbie Gurgaon has emerged as the most prosperous city in the country, leaving the country's financial capital Mumbai way behind.

Using ownership of consumer durables as a measure of prosperity, Crisil found Gurgaon has the largest proportion of households with all basic gadgets, including a computer or a laptop. The study covered the top cities in 16 states.

Gurgaon, with 27% of its households owning all gadgets, is sharply ahead of Chennai, which is second at 24%. Bangalore comes in a close third at 23.6%. Mumbai, however, trails way behind at 15.7%. Delhi, a city state, and union territories were not included in the study.

TV is the most popular consumer durable in Gurgaon — over 77% households have one. Almost a third of Gurgaon's households own a computer or a laptop, and over 41% have a two-wheeler and nearly 30% a four-wheeler. Mobile penetration is also very high in the city with over 60% owning a mobile phone.

Vidya Mahambare, principal economist at Crisil, said the exponential growth of Gurgaon's wealth could be attributed to the "high growth of financial, ITES and IT services in the city and a surge in its real estate prices".

Despite having the richest concentration of households, Gurgaon has a significant number of poor households with almost 7% families in the city without any consumer durable at all. However, this is only 2.2% in the case of Mumbai.

The study also highlights that the high incomes in Gurgaon have selectively benefited only the skilled and educated workforce and those who own property.

Chhattisgarh capital Raipur has emerged as the poorest Indian city with only 4.6% of its households possessing all consumer goods against 21% with none at all.





Latest Realty News

World's ultra-rich hold a fifth of their wealth in real estate
Jan 16, 2014
DELHI: The world's super rich people hold a fifth of their wealth in property, estimated at USD 5,328 billion, while Asia's ultra rich have a greater share in real estate, a report says.
Girija Vyas launches Housing Start up Index Logo for Rajiv Awas Yojana
Jan 16, 2014
DELHI: Girija Vyas , Union Minister for Housing and Urban Poverty Alleviation has launched the Housing Start Up Index (HSUI) logo, web site and monitoring tool “Integrated Urban Poverty Monitoring System” (IPoMs) for JnNURM and Rajiv Awas Yojana ( RAY) here today.
Unitech in talks to sell two hotels in NCR for about Rs 600 crore
Jan 16, 2014
DELHI: Realty major Unitech plans to sell its two hotels in Noida and Gurgaon for an estimated Rs 600 crore as part of the strategy to divest commercial properties.
Unitech to sell two hotels near Delhi, land parcels in southern cities
Jan 16, 2014
DELHI: Unitech, India's fourth-biggest real estate firm, has put two hotels near Delhi and some land parcels in southern cities on the block as it seeks to raise 800-900 crore to pare debt, two people close to the development said.
DDA set to clear plan for housing projects in outer Delhi
Jan 15, 2014
DELHI: The Delhi Development Authority is close to clearing a plan that could open up new areas in the city for housing projects. DDA's board of directors last week decided to take up final public suggestions on the move before it clears the proposal, probably in its next meeting.
ASK Group set to raise $200 million offshore real estate fund
Jan 15, 2014
DELHI: ASK Group, a diversified financial services group, today announced the first close of $50 million of their $200 million offshore real estate focused fund.
Increased role of project managers in real estate
Jan 15, 2014
DELHI: With the real estate sector getting more organised, the policy makers are addressing the major bottlenecks of the industry. High rate of inflation and the slowdown in the economy are affecting housing development to a large extent. In order to induce maximum efficiency in terms of cost, quality, delivery and profit, many companies are turning towards employing highly skilled project managers who plan, schedule and monitor the progress of projects.
Branded luxury homes for professionals in vogue
Jan 15, 2014
DELHI: Developers put their exclusiveness to high-end residential properties matching the international trends of living.
M3M to invest Rs 3,000 crore on 7 realty projects in Gurgaon
Jan 15, 2014
DELHI: Realty firm M3M will invest Rs 3,000 crore over three years on the construction of ongoing seven projects in Gurgaon.
United Nations Global Compact to frame business practice toolkit for realty
Jan 15, 2014
DELHI: United Nations Global Compact and Royal Institution of Chartered Surveyors (RICS) will develop a toolkit for the land, real estate and construction industry to improve the business practices in this sector.

Latest Realty News Of State

Realty Talk's