Jamshedpur, Nov. 23: The steel city has made it to the list of the top 10 richest cities in India.
According to a survey by Delhi-based Indicus Analytics, one of India’s leading economic research firms, Jamshedpur ranks seventh in the list of cities with the highest percentage of families with an average annual income of over a million (Rs 10 lakh) and above. Indicus will formally release the results of the find (see chart), which is part of the Housing Skyline Survey 2007- 08, on Monday.
“This is a nation-wide survey of households in all 593 districts of the country to find out which are the cities with the largest income groups. The entire list carries a total of 100 cities across the country and this is the first time that a small township like Jamshedpur has made it to the list,” said Mridusmita Bardoloi, the head of products, Indicus Analytics, from Delhi.
According to the survey, about 8.9 per cent of the city’s population has an average annual income of more than a million.
The listing is a premium database on the Indian housing sector for top 100 cities in India. The list provides information about a number of households across different income groups based on family structure (nuclear, joint and extended families), ownership of houses, households across type of dwelling units (owned/rented/others), housing loan amount and growth.
“This list was drawn up based on the percentage of households in a city having an yearly income of above Rs 10,000. The results are directly proportional to the population of that city. So, such small cities have made it here as their population is much lower than the metros,” added Bardoloi.
Ranchi is far behind, ranking 64 in the absolute list and 57 in the percentage list.
“For the survey we analysed raw data collected through three major nation-wide surveys — National Data survey on saving patterns of India, Reproductive Child Health Survey and the National Sample Survey — and matched it to the Government of India National Income data to find the final results,” she added.