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Major Events    Vol. 3 Issue No. 39        December 1-15, 2007

NE has most millionaire households: Study

The North-East has more millionaire households than other regions of the country, even though a vast majority of the people in the region do not have solid roof over their heads and two square meals to eat, leave alone other basic amenities.

The North-East region has a higher proportion of millionaire households (5.1%) than any other region in the country. This was disclosed by Indicus Analytics in its yet-to-be-released report — Housing Skyline of India 2007-08.

This organisation collates data on several parameters related to housing and households for India’s top 100 urban centres from a variety of sources. The North-East is followed by northern (4.6%) and western (4.2%) India.

South India has only 3.8 % of urban households in this high-income bracket, which is just a touch lower than the average of 3.9% for all 100 cities. Central India, which includes cities in Madhya Pradesh and Chhattisgarh, does better than the east, while the lowest proportions are for the cities off the mainland that is in Andaman and Lakshadweep.

Among them the 100 cities have just over 1.5 million households with Rs 10 lakh-plus annual income. In absolute terms, Pune, Ahmedabad, Surat and Chandigarh are all ahead of Chennai and Hyderabad.

Interestingly, going by the proportion of households in different cities that are in the million-plus annual income bracket, Chandigarh emerges a clear No 1 with over 15% of families.

Silvassa, capital of Dadra & Nagar Haveli, is in the second place followed by Rupnagar in Punjab, Kohima in Nagaland and Goa.

Patiala, Jamshedpur, Jalandhar, Thiruvananthapuram and Shimla round off the unexpected top 10.

Coming to metros, Bangalore has the highest proportion NE has most millionaire of millionaire households but it’s only about one in 15 families in the Karnataka capital that are in this elite club, which puts the city in 17th place on the list followed by Delhi (40), Mumbai (52), Chennai (67th) and Kolkata (91st), the report said.

Data indicates that despite poverty and backwardness wealth is concentrated in the hands of a few in the remote and backward northeaster region.

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