Number crunching time

To all those folk used to shaking their heads in disbelief at the phenomenal growth of Bangalore over the past few years, here’s more proof that the city is, well, doing well!

A recently released study–Indian Financial Scape, A District Profile 2005-06–by New Delhi-based research firm Indicus Analytics, says that there are 31,17,843 households in the country earning Rs 10 lakh or more. Of these, 3.3 per cent live in Bangalore city alone. In number terms, 3.3% may not appear a lot, but then, the nearest competitor to Bangalore is Mumbai Suburban and Thane, each with 2.3% share of the 31-lakh odd of the households earning 10-lakh and above across India.

Pune, Ahmedabad, Ernakulam, Ludhiana, Surat, Delhi South West and Thiruvananthapuram round up the next set of cities.

The study also finds that there is no co-relation between the number of rupee millionaires in the districts and the latter’s per capita savings habits. Over all, the propensity to save remains poor for all these districts. For instance, Bangalore ranks a poor No 35 in the country on per capita savings. Methinks the reason for this has got to do with all that spending in Bangalore’s malls & more malls.

Interestingly, the youngest member of the millionaire club in Bangalore would be 30 years old. Consider that the average working age of a person in Bangalore is 26. Want proof? Here’s a recent report on Rediff where the Head, HR of Bangalore’s home-grown IT company says so.

Whatever said and done, all this money has had a spiralling effect on one aspect – land prices in Bangalore. The study finds that about six years back, an acre of land in either Bannerghatta or Devanahalli areas of the city could be bought for as less as Rs 5 lakh (Rs 500,000) to Rs 10 lakh (Rs 1 million). But now prices range from Rs 1 crore (Rs 10 million) to Rs 2.5 crore (Rs 25 million)!

Enough to give a Bangalorean – depending on whether he’s an owner or a intending buyer – a sound sleep or a nightmare.

2 Comments so far

  1. Radman (unregistered) on August 7th, 2007 @ 10:16 pm

    off topic, but thats never stopped me before. just saw this in reuters, about how the growth in china has affected health and in paticular amongst traffic cops. probably the same is true in bangalore and mumbai.

    Chinese city traffic police have an average life expectancy of just 43 years because of the dire working conditions and pollution, state media said on Tuesday.And nearly every traffic policeman in the booming southern Chinese city of Guangzhou suffered nose or throat infections caused by dirty air.Xinhua news agency said a survey of eight cities found that police officers who had worked the streets for more than 20 years were the most at risk.Pollution was the chief culprit, but stress, traffic noise and standing long periods in the sun were also to blame.
    Chinese cities are battling to clean their polluted skies, especially the capital, Beijing, a year before it hosts the Olympic Games.
    More than 90 percent of the 2,746 traffic police who underwent a check-up in Guangzhou had infections, the China Daily quoted the Guangzhou Hospital of Vocational Disease Control and Prevention as saying.The incidence of lung, heart and respiratory tract diseases and arthritis was also higher among traffic police than the public as a whole, the newspaper added.”Vehicle emissions and excessive heat were the major contributors to the condition,” Liu Yimin, vice-president of the hospital, was quoted by a newspaper as saying. Traffic police have to work in a polluted environment for many hours a day, so their health is bound to be affected. “Guangzhou, with a population of about 10 million, is home to 1.8 million cars and other vehicles, and the number is increasing by 16 percent annually, according to the government Web site ( 150,000 new vehicle licenses were approved in the city each year, and more than 3,000 traffic police need to work surrounded by them, the China Daily said.

  2. Ravi (unregistered) on August 8th, 2007 @ 4:22 pm

    Thanks, Madman…er *wink*, Radman, for that bit of info. There was a TIME magazine report on pollution & environmental concerns in that other jewel in the Chinese crown – Hong Kong. Am unable to get a link to that article.

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