Andhra CM has assets worth Rs 3.73 crore; debt of Rs 3.06 crore

Andhra Pradesh Chief Minister N Chandrababu Naidu has total assets worth Rs 3.73 crore and also a debt of Rs 3.06 crore, his son and Telugu Desam General Secretary Nara Lokesh announced on Wednesday.

Naidu's assets include a house in Jubilee Hills area of Hyderabad valued at Rs 3.68 crore and an Ambassador car worth Rs 1.52 lakh. He also has cash of Rs 3.59 lakh in his bank account, according to Lokesh.

Interestingly, the Chief Minister's one-year-old grandson and Lokesh's son Devansh is richer with a house worth Rs 9.17 crore and fixed deposits of Rs 2.4 crore in his name, besides a cash deposit of Rs 2.31 lakh, according to the family's assets declared by Lokesh.

Naidu's wife Bhuvaneswari, on the other hand, has assets worth Rs 38.66 crore and debts to the tune of Rs 13 crore.

Lokesh himself has assets worth Rs 14.50 crore and a debt of Rs 6.35 crore. Lokesh's wife Brahmani has assets worth about Rs 5.4 crore.

"This is for the sixth consecutive year that we have declared our family's assets. Heritage Foods (a listed firm) owned by our family has a turnover of Rs 2,321 crore with a profit of Rs 55 crore," Lokesh told a press conference in Guntur.

Referring to allegations that there were many benami properties (assets held in the name of another person or under a fictitious owner) in their names, Lokesh challenged those making the claims to prove them.

"YSR Congress leaders are carrying out a misinformation campaign that we own benami properties. If they can prove it, I will give away such properties to them," the TDP General Secretary asserted.

Replying to a question, he said the TDP would pressurize the Centre to ban currency notes of Rs 1,000 and Rs 500 denominations to curb black money.