GAR Corp Chief latest billionaire realtor from Telugu States

Hyderabad: GAR Corporation Chairman G Amarender Reddy becomes the new entrant in Grohe-Hurun Real Estate Rich List 2021. He is the only billionaire realtor from two Telugu States. He and his family ranked ninth position in the list with a wealth of Rs 15,000 crore. Chairman of DLF, Rajiv Singh added Rs 25,000 crore to his wealth this year as per Hurun Report released on Wednesday. This list is a ranking of the most successful real estate entrepreneurs, inheritors in India, ranked by wealth proportionate to their ownership in their respective real estate businesses. Wealth calculations are a snapshot of 31 December 2021.

Hurun India MD and Chief Researcher Anas Rahman Junaid said, "After lying low for the last few years, Indian real estate sector is all set to become one of the biggest growth engines in India. Extraordinary world events such as Covid-19, Ukraine War coupled with inflation increased the attractiveness for investing in real estate, resulting in overall positive performance of the sector. For instance, the average wealth in the 2021 list has increased by 30 per cent, to Rs 4,537 crore. The combined wealth of the entrepreneurs on the list grew by 30 per cent compared to 2020 and 81 of them increased wealth, including 13 new additions.

"For the year under review, the BSE Realty index gained 55 per cent compared to a 22 per cent gain of the benchmark index Sensex. The real estate stocks are primarily driven by a recovery in real estate demand on the back of low-interest rates and government incentives. This could be the reason why the list registered the biggest ever cumulative wealth growth of 30 per cent since inception." "While the 2020 list demonstrated the resilience of the sector, the 2021 list evidenced the quality of India's top real estate entrepreneurs. For instance, the cut-off to feature in the top 10 of the 2021 list has increased by 122 per cent to Rs 11,400 crore," concluded Anas Rahman Junaid.