India is home to over 200 billionaires in 2024, and Mukesh Ambani is the richest man in the country with a net worth of Rs 9.6 lakh crore, according to Forbes. Chandru Raheja, one of India’s richest real estate magnates, is a part of this billionaire list. Real estate remains a booming market in India, with increased demand for luxury residential properties in the past few years. This, in turn, has significantly contributed to Chandru Raheja’s fortune. Here’s everything to know about him.
Meet this 83-year-old billionaire, one of India’s richest real estate moguls, who has a staggering net worth of Rs 41,000 Crore
Chandru Raheja is a billionaire businessman, who is the Chairman of K Raheja Corp. According to Forbes, the real estate mogul’s real-time net worth stands at $5 billion (approximately Rs 41,000 crore). This makes him one of the richest people in India.
Chandru Raheja’s late father and businessman Lachmandas Raheja founded K Raheja Group in 1956, while the family business was split between Chandru Raheja and his brothers in 1996. Under the 83-year-old real estate tycoon’s leadership, K Raheja Corp is now Mumbai’s leading developer and is run by Chandru Raheja’s sons Neel Raheja and Ravi Raheja. Notably, Chandru Raheja holds a Bachelor’s Degree in Law from Mumbai University.
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K Raheja Corp’s diverse business portfolio includes office spaces, hospitality, malls, residential offerings, retail and power. The realty firm owns the department store chain Shoppers Stop (located across 45 cities in India), Inorbit Mall (located in Mumbai, Hyderabad and Vadodara) and the IT park Mindspace (located in Mumbai, Hyderabad, Chennai and Pune). Chalet Hotels is also a vertical under K Raheja Corp, and their hospitality portfolio includes JW Marriott Mumbai Sahar, The Westin Hyderabad Mindspace, Bengaluru Marriott Hotel Whitefield and The Dukes Retreat in Lonavala, among others. Chalet Hotels was listed in 2019, according to Forbes.
In the March quarter of 2023, K Raheja Corp Homes — the residential vertical of K Raheja Corp — sold properties worth Rs 1,100 crore in South Mumbai. According to Moneycontrol, the realty firm delivered the sales revenue from a single project, the Raheja Modern Vivarea, a two-tower luxury residential property.