A report released by the Association for Democratic Reforms (ADR) and National Election Watch (NEW) revealing that Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu is the richest chief minister in India has triggered a big debate in the political circles across the country.
The report said Naidu has declared assets exceeding Rs 931 crore, including Rs 810 crore in movable assets and over Rs 121 crore in immovable property.
Naidu is followed by Arunachal Pradesh chief minister Pema Khandu from the Bharatiya Janata Party (BJP), who has declared assets worth over Rs 332 crore, including movable assets of Rs 165 crore and immovable assets of Rs 167 crore.
Next on the list is Karnataka chief minister Siddaramaiah from the Congress, with assets totalling Rs 51 crore, including Rs 21 crore in movable assets and Rs 30 crore in immovable property.
West Bengal chief minister Mamata Banerjee is the least wealthy CM in the country with declared assets of just Rs 15.38 lakh and no immovable property.
The report is based on the analysis done on self-sworn affidavits filed by 30 current chief ministers from 27 state assemblies and three Union Territories before the last general elections.
However, if one were to go by the personal assets of Naidu, he has total movable assets worth Rs 4,80,438, including cash of Rs 11,560 on hand and deposits in various banks, besides an ambassador car of 1994 make worth Rs 2.25 lakh.
It is Naidu’s wife Nara Bhuvaneshwari, who owns the lion’s share of the family wealth.
The movable assets of his wife Bhuvaneshwari are worth more than Rs 810.37 crore, including 2,26,11,525 shares of Heritage Foods limited with each share priced at Rs 337.85, with a total aggregate value of Rs 763.93 crore.
Besides, Bhuvaneshwari has 3,435 grams of gold, 41.49 kgs of silver and precious stones and pearls worth Rs 1.09 crore.
With regard to immovable assets, Naidu has declared that he has 95.23 cents of land at Kadapalli village of Shantipuram in Kuppam, where he is constructing a house whose market value is around Rs 77.33 lakh; and a residential building measuring 14,950 sft area built in 1,225 square yards land at Jubilee Hills in Hyderabad in partnership with his son Nara Lokesh. The total value of the land and house is Rs 70.20 crore, half of which is owned by his son.
Besides, Naidu has an inherited residential property constructed in 0.97 acres of land at Naravaripalle village of Chandragiri mandal in Tirupati district and its value is Rs 43.66 lakh. Thus, the total value of Naidu’s immovable properties is around Rs 36.31 crore.
On the other hand, Bhuvaneshwari has five acres of land at Madinaguda in Hyderabad, whose value is around Rs 55 crore and a commercial building at Sriperumbudur in Chennai worth Rs 30.10 crore. Thus, the total value of her immovable properties is around Rs 85.10 crore.
Naidu’s asset value in 2019 was declared as Rs 20.44 crore and that of his wife was Rs 648.13 crore.
