Impact of Share market on Real Estate in India.

Just fort night back we have seen many Indian promoters figured in the worldwide billionaire list. The Sensex’s climb previous year saw the likes of DLF’s KP Singh coming out of nowhere and becoming the third richest Indian for sometime. And there was much rumour as to when, rather than if, Mukesh and Anil Ambani would eclipse Bill Gates.
However, the recent stock market chaos has resulted in an erosion of net worth of India’s wealthy lot, which is just as spectacular as the rise was. In all, the net worth of India’s top 10 promoters is down by 35 percent since the peak in early January.
Indian biggies including Mukesh Ambani, DLF’s Singh and Sunil Mittal of Bharti Airtel have seen their combined net worth shrink by around $100 billion in the preceding two months.
Topping the list of losers is India’s biggest real estate industrialist KP Singh. His net worth has almost halved to $22.5 billion from a peak of $45 billion in January.
One more real estate baron to lose acutely during this meltdown is R. Chandra of Unitech, whose market cap has halved since this bear phase began. The Hinduja Group too has taken a knock with the market value of its holdings down by nearly 43 percent.
The promoters who have seen maximum wealth erosion are those with business interests in real estate, power and energy.

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