Naidu's assets grow in 5 years from Rs 668 cr to Rs 931 cr!

Believe it or not, the total value of movable and immovable assets belonging to Telugu Desam Party president and former Andhra Pradesh chief minister N. Chandrababu Naidu and his wife, Nara Bhuvaneshwari, has surged from Rs 668.57 crore to a staggering Rs 931.83 crore.

In 2019, the former chief minister declared his asset value at Rs 20.44 crore, while that of his wife was Rs 648.13 crore. This year, Naidu’s assets rose to Rs 36.79 crore, and his wife's assets soared to Rs 895.47 crore.

This disclosure came directly from Naidu himself in his election affidavit submitted to the Election Commission of India on Friday, as he filed his nomination for the upcoming assembly elections from the Kuppam constituency in Chittoor district.

Bhuvaneshwari filed the nomination papers on behalf of her husband at the Kuppam municipal office, after leading a massive rally of TDP workers in the afternoon. Readmore!

Bhuvaneswari holds the majority of the assets, owning 2.26 crore shares of Heritage Foods Ltd, valued at Rs 337.85 each (market value). The total worth of her shareholding now stands at nearly Rs 764 crore, compared to Rs 545.76 crore in 2019.

According to the affidavit, Naidu’s movable assets amount to Rs 4,80,438, including Rs 11,560 in cash and deposits in various banks, as well as an ambassador car from 1994 valued at Rs 2.25 lakh.

His wife Bhuvaneshwari’s movable assets are worth Rs 810.37 crore, including the aforementioned shares of Heritage Foods Limited, along with 3,435 grams of gold, 41.49 kilograms of silver, and precious stones and pearls valued at Rs 1.09 crore.

In terms of immovable assets, Naidu has declared ownership of 95.23 cents of land at Kadapalli village of Shantipuram in Kuppam, where he is constructing a house with a market value of approximately Rs 77.33 lakh.

He also owns a residential building in Jubilee Hills, Hyderabad, covering an area of 14,950 square feet, built on 1,225 square yards of land, valued at Rs 70.20 crore, half of which is owned by his son Nara Lokesh.

Additionally, Naidu possesses an inherited residential property constructed on 0.97 acres of land at Naravaripalle village of Chandragiri mandal in Tirupati district, valued at Rs 43.66 lakh. Hence, the total value of his immovable properties is around Rs 36.31 crore.

Meanwhile, Bhuvaneshwari owns five acres of land in Madinaguda, Hyderabad, valued at around Rs 55 crore, and a commercial building in Sriperumbudur, Chennai, worth Rs 30.10 crore. Thus, the total value of her immovable properties is around Rs 85.10 crore.

On the liabilities front, Naidu has debts of about Rs 3.48 crore, while Bhuvaneshwari's liabilities amount to approximately Rs 6.83 crore.

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