"257 people with Rs 226 crore or more": Kolkata's Ultra-wealthy population
Kolkata, Mar 1: The ultra-wealthy population of the metropolis is expected to increase 43.2 per cent to 368 by 2026, property consultant Knight Frank said on Tuesday.
The number of ultra high net worth individuals (net assets of about Rs 226 crore or more) in Kolkata rose from 119 in 2016 to 257 in 2021, Knight Frank said in its Wealth Report 2022.
The report said Mumbai is home to 1,596 UHNWIs, followed by Hyderabad (467 UHNWIs).
India ranked third in billionaire population globally in 2021. US is number one with 748 billionaires, followed by Chinese mainland at 554 billionaires and India with 145 billionaires.
Amongst key Indian cities, Bengaluru witnessed the highest growth in the number of UHNWIs at 17.1 per cent to 352, followed by Delhi (12.4 per cent, 210) and Mumbai (9 per cent, 1,596), the report said.
Knight Frank also said it has for the first time examined the size of the next generation' of the world's UHNWI population and assessed what that could mean for the property markets.
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One-third of Karnataka’s coastal areas at risk of erosion: Report
Bengaluru: A recent study commissioned by the Karnataka government has revealed that 28% of the state's 328.55-km coastline is experiencing high levels of erosion. The report, submitted by the National Centre for Sustainable Coastal Management to the Environment Department, shows that the length of eroding stretches has more than doubled, from 43.7 km in 1990 to 91.6 km in 2024.
Titled Shoreline Management Plan Along Karnataka Coast, the report highlights the impact of increased sediment barriers and upstream activities on coastal erosion. It also calls for the adoption of nature-based solutions to counter the effects of climate change and human activities.
District-wise findings
The coastline of Uttara Kannada, Udupi, and Dakshina Kannada spans 328.55 km, with varying levels of erosion across the districts:
Uttara Kannada: Although 28% of its 193-km coastline is eroded, the district accounts for 39% of the state’s total erosion due to increased coastal development.
Udupi: Despite 43% of the coastline being protected by seawalls, 38% remains affected by erosion, contributing to 32% of Karnataka's overall erosion.
Dakshina Kannada: The district’s 37-km coastline faces “critical” erosion, with 39% of its stretches severely impacted, including areas such as Uchil and Batapady.
The report warns that coastal erosion threatens habitations, estuarine environments, mangroves, mudflats, and fish landing areas.
Recommendations
Identifying 44 critical erosion zones, the report suggests:
1. Beach nourishment through sand replenishment.
2. Rehabilitation of sand dunes and bioshields.
3. Mangrove afforestation to stabilise coastlines and support fisheries.
The findings will inform the Karnataka-Strengthening Coastal Resilience and the Economy (K-SHORE) project, which prioritises nature-based solutions over hard approaches like seawalls. R Gokul, Additional Principal Chief Conservator of Forests, stated that the Rs 840-crore project will focus on mangrove planting, beach nourishment, and tackling plastic pollution. These measures aim to protect the coastline and boost the blue economy.
The report will also guide the Karnataka State Coastal Zone Management Authority in reviewing coastal development proposals.
