HYDERABAD: The total assets of Andhra Pradesh Chief Minister Chandrababu Naidu and his family have spiked by over 12.5 crores in a year, his son Nara Lokesh declared on Wednesday evening. Mr Naidu has been voluntarily disclosing his family’s assets and liabilities every year for the last 8 years, in a show of transparency.
Earlier this year, an analysis by the Association for Democratic Reforms had found Mr Naidu to be the richest Chief Minister of the country with declared assets of Rs. 177 crores in his election affidavit.
But going by the 68-year-old chief minister’s voluntary disclosure, based on the rates at which assets were acquired, in over a year, the value of the Naidu family’s combined assets has touched Rs. 81.83 crore from Rs. 69.28 crore — a jump of Rs. 12.55 crore.
The assets of Mr Naidu have gone up from Rs. 2.53 crore to nearly Rs. 3 crore. His wife’s assets, however, have grown significantly – from Rs. 25 crores to Rs. 31 crores. Properties in the name of Nara Lokesh — Mr Naidu’s son and the state’s information minister — and the Chief Minister’s minor grandson Devaansh, has shown similar growth.
Nara Lokesh’s assets, worth Rs. 15.21 crore last year, stands at Rs. 21.40 crore now. The value of the property in the name of his three-year-old son Devaansh has gone up to Rs. 18.71 crore against last year’s Rs. 11.54 crore.
Last year, when the businessman-turned-politician contested in the Legislative Council elections, he had declared assets worth Rs. 330 crore — up from less than Rs. 15 crores a few months before. The 35-year-old said the jump was because his voluntary disclosure was done taking the face value of shares, which is the rate at which he acquired them. But in the election affidavit, he declared their market value.
The value of the assets his wife Brahmini, however, has taken a nosedive. From last year’s Rs.15.01 crore, it now stands at Rs. 7.72 crores.