The latest issue of Granta has an article by Rana Dasgupta titled “Capital Gains”. It talks about the huge wealth and power recently accumulated by a few in Delhi, their unabashed flaunting of this new-found wealth and power, their displacement of the previous elite who are now disgusted and the resulting class divisions in the society. It is a long article, but well worth the read.
Bangalore too has its share of the newly-created ultra-rich class (mainly through real-estate, mining, politics and I.T.) - just take a walk around B.T.M. Layout or J.P. Nagar to see the evidence - but they are apparently far fewer in number and thankfully far less ostentatious.