Four Indian realtors lose $33 bn in 8 months: Forbes

Hit by the turmoil in equity and property markets, India's four richest realtors have lost nearly $ 33 billion (over Rs 1,50,000 crore). Listing out the losses suffered by richest property owners in Asia in the ongoing turmoil, in a new report Forbes has named DLF's Singh, Unitech's Ramesh Chandra, Chandru Raheja of Mumbai-based Raheja group and Housing Development & Infrastructure Ltd's Rakesh Wadhawan among the eight realty barons from the region. While Singh has lost $ 22.2 billion alone since March, Chandra has seen an erosion of about $ 8.6 billion in his fortune during the same period, when Raheja and Wadhawan have lost about $ 1.5 billion and $ 500 million, respectively. In the latest list of India's 40 richest people published by Forbes earlier this month, K P Singh was ranked at the eighth spot, while Chandru Raheja and Ramesh Chandra were placed at the 20th and 27th positions, respectively. Realty stocks have been among the worst hit in the ongoing meltdown at the bourses and a number of them registered losses even today when the overall market benchmark Sensex ended with significant gains.