This Indian city is wealthier than Washington, Moscow

As per the Knight Frank Wealth Report 2017, Mumbai is ahead of cities such as Washington, Toronto, Moscow, etc when it comes to wealth.

As per the 'City Wealth Index' released by Knight Frank, Mumbai is at the 21 st spot, while Delhi at 35, which is ahead of Bangkok, Seattle and Jakarta.

The report assesses growing super-rich population in 125 cities across 89 countries. The report also scans what is influencing Ultrahigh Net Worth Individuals (UHNWI) investment and lifestyle decisions.

This year's survey results are based on responses from almost 900 of the world's leading private bankers and wealth advisors. UHNWIs are those with net assets worth over $ 30 million (roughly Rs 200 crore).

The number of UHNWIs in India has increased by 290% during the last decade. India houses 2% of the world's millionaires (13.6 million) and 5% of world's billionaires (2,024).

In India, Mumbai leads the race with 1340 UHNWIs followed by Delhi (680), Kolkata (280) and Hyderabad (260) UHNWIs. Indian cities that saw a rise in UHNWIs compared to 2015 include Pune (18%), Hyderabad and Bangalore (both at 15%) and Mumbai (12%).

Out of 40 global cities, Mumbai ranks 11 in the 'future wealth' category ahead of Chicago, Sydney, Paris, Seoul and Dubai.

"Substantial proportion of wealthy Indians is likely to invest in residential property in the next two years - 40% within country and 25% overseas," it said.