Term Of The Day: High Net Worth Individual
A high net worth individual (HNI) is an individual with a high net worth.
PropTiger Explains High Net Worth Individual
Though the definition of a high net worth individual varies according to geographical area and financial markets and institutions, the concept is used while referring to individuals or families with a high net worth or investible surplus. They are defined as individuals who own liquid assets above a certain figure. In India, individuals with an investible surplus of more than Rs 2 crore are considered HNIs while those with investible wealth ranging between Rs 25 lakh to Rs 2 crore are considered Emerging HNIs.
An ultra-high net worth family is defined a family that has more than $100 million in investible wealth. According to a Boston Consulting Group report, India has the fourth highest number of ultra-high net worth households (UHNW) in the world. India has nearly 982 UHNW households.
In India, because of economic reforms and high economic growth, the HNI segment has been growing. According to some estimates, more than 90% of the ultra-high net worth individuals in India live in the top ten Indian cities. According to a wealth report by the Kotak Mahindra Group and Ernst & Young, the number of ultra-high net worth individuals (UHNIs) having an investible surplus of over Rs 25 crore went up 16 per cent to 1.17 lakh in the fiscal year 2013-14. This is estimated to triple to 3.43 lakh from 2014-17. Among BRICS countries, India has the highest growth among ultra-high net worth individuals.
Check out PropGuide's comprehensive guide to real estate terms here.
Blogs Related To High Net Worth Individual
Luxury Housing: Top 5 Projects In The Hills