Hyderabad is strengthening its position among India’s wealthiest cities, with the city now accounting for 6.3% of the country’s ultra-high-net-worth population, up from 5% in 2015, according to the latest Knight Frank Wealth Report 2026. The rise reflects growing wealth creation in sectors such as technology, business and capital markets.
The report said Mumbai still remains India’s biggest wealth hub, holding 35.4% of the country’s ultra-rich population, but wealth is gradually spreading across emerging cities like Hyderabad.
Luxury Homes Becoming More Expensive
The city’s growing concentration of wealthy residents is also pushing up demand for premium housing.
Knight Frank noted that USD 1 million could buy 498 square metres of luxury residential space in Hyderabad in late 2025, down from 503 square metres in 2024. This means buyers now get nearly 1% less space for the same amount, indicating rising prices in the luxury segment.
Even though the Indian rupee depreciated by 4.3% over the past year, residential prices in Hyderabad still increased by 5.4% per square foot, reducing the amount of property global buyers can purchase.
India’s Wealth Boom
At the national level, India’s population of individuals with wealth above USD 30 million grew by 63% between 2021 and 2026, rising from just over 12,000 to 19,877. India is now ranked as the sixth-largest ultra-wealth market in the world.
Knight Frank expects India’s ultra-rich population to grow another 27% by 2031, reaching 25,217, signalling continued expansion of wealth across major cities, with Hyderabad likely to remain one of the biggest gainers.
