India's Wealthiest Real Estate Magnates of 2023

India is witnessing a burgeoning population of millionaires, which is expected to double by 2026. One sector that has significantly contributed to this wealth surge is real estate. Despite facing challenges due to the pandemic, India's real estate industry is on the path to recovery. According to the latest Grohe-Hurun India Real Estate Rich List for 2021, India is now home to 11 real estate billionaires. Let's delve into the lives of these titans of Indian real estate, exploring their fortunes, their businesses, and their opulent lifestyles.

1. Rajiv Singh

Net Worth: INR 61,220 crore

Leading the pack as India's richest real estate tycoon is Rajiv Singh, the entrepreneur and chairman of DLF. With a net worth of INR 61,220 crore, Rajiv Singh has diversified into various businesses, including insurance, retail, and hospitality. DLF has even ventured into the world of cricket by securing sponsorship rights for the Indian Premier League (IPL). His father, KP Singh, who remains the chairman of DLF, has also been honored with the Padma Bhushan, one of India's highest civilian awards.

2. Mangal Prabhat Lodha and Family

Net Worth: INR 41,399 crore

Mangal Prabhat Lodha is one of India's wealthiest real estate tycoons, with a net worth exceeding INR 52,000 crore. Ranking second on the GROHE Hurun India Real Estate Rich List for 2021, Lodha laid the foundation of the Lodha Group, supported by his family. In 2021, he successfully completed his company's long-pending IPO. Notably, Lodha is responsible for the construction of a luxurious 75-story skyscraper in the heart of Mumbai.

3. Chandru Raheja and Family

Net Worth: INR 33,104 crore

Chandru Raheja, the 81-year-old Chairman of K Raheja Corp, is among India's wealthiest real estate moguls. The company boasts a diverse portfolio, with approximately 20 million square feet of office spaces leased across Mumbai, Navi Mumbai, Pune, and Hyderabad. K Raheja Corp is now under the leadership of Chandru Raheja's sons, Neil and Ravi. Recently, the company listed a portion of its commercial properties under the Mindspace Business Parks REIT, in collaboration with private equity firm Blackstone.