LONDON: The number of multi-millionaires -who are worth $10 million or above -is rocketing in Kolkata with the city recording a higher percentage increase in the superrich category when compared to other Asia Pacific heavyweights like Tokyo, Seoul, Singapore and Hong Kong.Between 2004 and 2014, the number of multi-millionaires in the City of Joy has seen a whopping 171% increase -much higher than giants like Bangkok (161%), Kuala Lump ur (139%), Singapore (138%), Seoul (83%), Hong Kong (83%) and Tokyo (53%). Kolkata is now home to 570 people worth over $10 million as against 210 in 2004.Kolkata is ranked the 12th richest city in the Asia Pacific having recorded a 171% increase in the number of super rich. The thumbs-up has come in the New World Wealth annual report on fastest growing cities for multi-millionaires worldwide.Kolkata's industrialists welcomed the news though they weren't too surprised by Kolkata's moving up the fortune ladder. The surge is largely due to the real estate boom in Kolkata over the last decade, they say.Pawan Jain, chairman of Ashika Stock Broking, said, "This is a welcome development for Kolkata. It shows the City of Joy is vibrant and not dying. I feel that this is largely due to the multifold increase in real estate prices in the city .There were a few good cycles in the stock market as well, where people made money." MK Jalan, chairman of the Keventer Group, was equally excited. "Yes, the number of multi-millionaires is going up rapidly here. If the benchmark is $10 million, which is around Rs 63-64 crore, then some property in good locations or 2-3 flats in Kolkata would cost more than that. A lot of people have such properties," he said.Utsav Parekh, director BAPL and Smifs Capital Markets, agreed with Jalan and Jain. "If you observe the changing lifestyle around you, it's easy to understand that the number of multimillionaires is rising in Kolkata. The main reason is real estate prices."Overall, India has more multi-millionaires (14,800) than Russia (11,700), Brazil (10,300), Canada (9,800), France (8,200), Singapore (6,600) and Australia (6,100).Predictably , US has the world's highest number of multi-millionaires (183,500) followed by China (26,600), Germany (25,400) and UK (21,700).In fact, Pune is ranked third among fastest growing cities for the super-rich in Asia Pacific region after Vietnam's Ho Chi Minh City (400% growth) and Jakarta (396%).