Wed. May 22nd, 2024

TDP head Chandra Babu claims the family’s Andhra properties are worth ₹931.83 cr

TDP head Chandra Babu claims the family's Andhra propertiesTDP head Chandra Babu claims the family's Andhra properties

TDP: The combined worth of the movable and immovable assets owned by the former chief minister of Andhra Pradesh and leader of the Telugu Desam Party (TDP), N Chandrababu Naidu, and his spouse, Nara Bhuvaneshwari, is ₹931.83 crore.

When Naidu filed his nomination for the upcoming assembly elections from the Kuppam constituency in the Chittoor district on Friday, he made this revelation in his election affidavit, which he sent to the Election Commission of India.

After leading a sizable assembly of TDP workers in the afternoon, Bhuvaneshwari filed the nomination papers in the Kuppam municipal office on her husband’s behalf.

The second day of Andhra Pradesh’s assembly and general election nominations was held on Friday. April 26 is the deadline for nomination submissions.

Naidu’s statement states that he possesses movable assets totaling ₹4,80,438. This amount includes cash on hand of ₹11,560 and deposits in multiple institutions, in addition to an ambassador car from 1994 valued at ₹2.25 lakh.

Bhuvaneshwari, his wife, possesses movable assets valued at over ₹810.37 crore. These assets comprise 2,26,11,525 shares of Heritage Foods Limited, valued at ₹337.85 per share, totaling ₹763.93 crore. Additionally, she owns 3,435 grams of gold, 41.49 kilograms of silver, and precious stones and pearls valued at ₹1.09 crore.

Regarding immovable assets, Chandra Babu Naidu stated that he possesses 95.23 cents of land in Kadapalli village of Shantipuram, Kuppam, where he is in the process of constructing a house valued at approximately ₹77.33 lakh. Additionally, he co-owns, with his son Nara Lokesh, a residential building spanning 14,950 square feet on a 1,225 square yard plot in Jubilee Hills, Hyderabad. The combined value of the land and house is ₹70.20 crore, with half of the ownership belonging to his son.

In addition, Naidu possesses an inherited ₹43.66 lakh residential property situated on 0.97 acres of land in Naravaripalle village, Chandragiri mandal, Tirupati district. Naidu’s immovable properties are therefore estimated to be worth ₹36.31 crore in total.

Conversely, Bhuvaneshwari possesses five acres of land in Madinaguda, Hyderabad, valued at approximately ₹55 crore, as well as a commercial building in Sriperumbudur, Chennai, valued at ₹30.10 crore. Consequently, the total worth of her immovable assets is approximately ₹85.10 crore. Regarding liabilities, Naidu has debts totaling around ₹3.48 crore, while Bhuvaneshwari’s liabilities amount to approximately ₹6.83 crore.

In 2019, the declared asset value of the former chief minister was ₹20.44 crore, while that of his wife was ₹648.13 crore.

Also Read: Lok Sabha Elections 2024 Phase 1

Regarding Naidu’s criminal history, the affidavit stated that his name appeared in up to 24 FIRs about different instances that are at varying phases of inquiry.

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