When you think of India’s wealthiest, you might picture skyscrapers in Mumbai or sprawling villas in Gurgaon. But the real story is deeper. Many of India’s richest families don’t just live in modern high-rises-they live in centuries-old havelis, restored palaces, and heritage mansions that have been passed down for generations. These aren’t just homes. They’re living museums, filled with hand-carved marble, frescoed ceilings, and courtyards that once hosted royal courts.
Delhi’s Lutyens’ Bungalow Belt and the Old Nobility
Delhi’s elite don’t live in one place-they live in layers. The Lutyens’ Bungalow Zone, with its wide tree-lined avenues and colonial-era residences, is where India’s top bureaucrats, corporate leaders, and political dynasties reside. But step outside that bubble, and you’ll find the real heritage powerhouses: the family homes of the erstwhile princely states.
The Nehru-Gandhi family lives in 10 Janpath, a heritage bungalow built in the 1930s. The Scindias of Gwalior still own their palace in the heart of the city, though they’ve moved to Delhi for business. The Holkars of Indore maintain a sprawling estate in New Delhi’s Greater Kailash, complete with a private temple and a garden designed by British landscape architects. These aren’t just addresses. They’re ancestral seats of influence.
What makes these homes special isn’t just their size-it’s their history. Many were built between 1880 and 1940, blending Mughal arches with Art Deco details. The interiors still hold original teakwood doors, brass chandeliers from Belgium, and handwoven carpets from Kashmir. You won’t find these in real estate listings. Most are privately held, passed from father to son, never sold.
Mumbai: The New Money Meets Old Heritage
Mumbai is where the new billionaires live side by side with the old aristocracy. On Malabar Hill, you’ll find the 27-story Antilia, home to Mukesh Ambani-the most expensive private residence on Earth. But just a few kilometers away, in the same neighborhood, are the crumbling yet majestic bungalows of the Tata, Godrej, and Dorabji families.
The Tatas still live in the original 1912 house on Malabar Hill, where J.R.D. Tata was raised. It’s not the biggest house, but it’s the most respected. The Godrejs own a 1920s colonial mansion in Cuffe Parade, with a private library holding first editions of Indian independence-era texts. These families didn’t just make money-they built institutions. Their homes reflect that legacy: understated, functional, and deeply rooted in tradition.
Meanwhile, the new rich are buying up restored havelis in Bandra and Juhu. A 19th-century Parsi mansion in Bandra sold for ₹280 crore in 2024. These buyers don’t just want space-they want stories. They hire heritage architects to restore stained glass windows, rebuild jharokhas (overhanging balconies), and bring back the original lime plaster finishes that keep homes cool in Mumbai’s humidity.
Jaipur, Udaipur, and the Royal Legacy
If you want to see India’s richest living like royalty, head to Rajasthan. Jaipur’s pink-walled city is home to the Sawai Man Singh II family, who still occupy parts of the City Palace. Their private apartments sit above the museum wing, where visitors tour the rest. The family owns over 100 properties across India, but they still sleep in the same bedroom their ancestors did.
Udaipur’s Lake Palace, once a summer retreat for the Mewar dynasty, is now a five-star hotel. But the royal family still lives in the Jagmandir Island Palace, a hidden gem accessible only by private boat. They host private dinners for select guests-global CEOs, foreign diplomats, and close family friends. The kitchen still uses copper pots and wood-fired stoves, just as it did in 1720.
These homes aren’t just preserved-they’re lived in. The royal families employ hundreds of staff to maintain the grounds, clean the frescoes, and cook traditional meals. Many of these homes still have their original water systems: stepwells, underground cisterns, and hand-pumped wells that supply water even during droughts.
Hyderabad: The Nizams’ Last Stronghold
Hyderabad’s richest families trace their roots to the Nizams, who ruled one of the wealthiest princely states in history. The Asaf Jahi dynasty still owns the Falaknuma Palace, a 19th-century marvel with 240 rooms, a ballroom that holds 1,000 people, and a private collection of 1,000 Persian rugs.
While the palace is now a luxury hotel, the Nizam’s direct descendants live in a quieter, lesser-known estate called Purani Haveli. Built in 1885, it’s a maze of marble courtyards, stained glass, and silver-plated doors. The family still uses the original lift-installed in 1890-and keeps the family archives in a vault lined with cedar wood to protect centuries-old letters.
Many of these homes have been converted into heritage hotels, but the family keeps a wing for themselves. They don’t host tourists. They host weddings for close relatives and private dinners for global business partners. The food? Hyderabadi biryani cooked in copper pots, served on silver platters, just as it was in 1910.
Why Heritage Homes Still Matter
Why do India’s richest choose old homes over new penthouses? It’s not about nostalgia. It’s about control. These homes were built to last. Thick stone walls keep out heat. Courtyards provide natural ventilation. Water systems designed by 18th-century engineers still work today. Modern homes? They need air conditioning, constant repairs, and expensive maintenance.
There’s also status. Owning a 300-year-old haveli isn’t just about money-it’s about lineage. You can’t buy that. You inherit it. And you protect it. Many families now have heritage trusts, legally binding documents that prevent the sale of the property. Some have even taken legal action to stop neighbors from building tall buildings that block sunlight to their ancestral courtyards.
These homes are also cultural anchors. The Ambanis’ Antilia has 168 staff, but the Godrejs still serve tea in the same porcelain set their grandmother used. The Sawai Man Singh family still performs daily rituals in the palace temple. These aren’t performances for tourists. They’re daily acts of continuity.
What You Won’t See on Instagram
Most of these homes are closed to the public. You won’t find them on travel blogs. No one posts selfies in the Nizam’s private library. No Instagram influencer has been allowed into the Holkar family’s secret garden. These aren’t tourist spots. They’re private sanctuaries.
But you can still feel their presence. Walk through the narrow lanes of Old Delhi and you’ll see brass plaques on gates: “Residence of the descendants of Mirza Ghalib.” In Jaipur, notice the ornate balconies that look out over the city-those are the same ones where royal women once watched festivals from behind screens. In Hyderabad, the scent of rosewater still lingers near the old havelis in Charminar’s back alleys.
These homes are more than real estate. They’re the physical memory of India’s wealth-not just in rupees, but in culture, craftsmanship, and continuity.
Where to Visit (Legally)
If you want to experience these worlds without trespassing, here are a few heritage homes open to the public:
- City Palace, Jaipur - Still partially occupied by the royal family, but the museum wing is open daily.
- Falaknuma Palace, Hyderabad - Now a luxury hotel. Book a night to sleep where Nizams once dined.
- Umaid Bhawan Palace, Jodhpur - Half hotel, half royal residence. Tour the museum wing and see the original Rolls-Royces.
- Samode Palace, near Jaipur - A restored 16th-century estate turned boutique hotel. Still has the original frescoes and marble fountains.
- The Oberoi Udaivilas, Udaipur - Built on the site of a royal hunting lodge. The architecture mirrors the Mewar dynasty’s style.
These places don’t just offer luxury. They offer a connection to a world where wealth wasn’t measured in stock portfolios, but in stone, silk, and centuries of tradition.
Why This Matters Today
India’s richest aren’t just building new towers-they’re restoring old ones. In 2023, over ₹2,000 crore was spent on heritage restoration projects across India. The government gives tax breaks for this, but most families don’t need the incentive. They do it because it’s who they are.
These homes are the last living links to a time when wealth meant responsibility. The people who live in them don’t just own property-they steward history. And in a country where everything changes fast, that’s the rarest kind of luxury.
Do the richest Indians still live in palaces?
Yes, many do. Families like the Scindias, Holkars, and Nizams still live in parts of their ancestral palaces, even if they’ve opened other wings as hotels or museums. These homes are not abandoned-they’re actively maintained and lived in, often with hundreds of staff to preserve their condition.
Are heritage homes more expensive than modern luxury apartments?
Not always by price, but by value. A restored 19th-century haveli in Mumbai might cost ₹300 crore, but maintaining it costs ₹5-10 crore per year. Modern penthouses cost less to upkeep but lack historical value. For India’s elite, heritage homes are investments in legacy, not just assets.
Can tourists visit the homes of India’s richest?
Most private residences are off-limits. But several heritage palaces have been converted into hotels or museums open to the public-like the City Palace in Jaipur, Falaknuma in Hyderabad, and Umaid Bhawan in Jodhpur. These offer a glimpse into the lifestyle without intruding on private life.
Why don’t the richest Indians sell their heritage homes?
Many have legal or cultural restrictions. Some families set up heritage trusts that forbid sale. Others believe selling means losing identity. In many cases, the homes are tied to religious or family rituals-like daily prayers in a private temple or ancestral feasts-that can’t be moved.
How do these homes stay in good condition?
They’re maintained by teams of specialist craftsmen-marble restorers, fresco painters, wood carvers-who use traditional techniques. Many families hire heritage architects and follow guidelines from the Archaeological Survey of India. Some even train young artisans in the same skills their ancestors used.