Andhra Pradesh Chief Minister Chandrababu Naidu son Nara Lokesh on Thursday announced assets of his family as part of annual public declaration they are making from past 7 years. The details, revealed by Lokesh, says that his son Devansh is richer than his father and Chief Minister of AP – Nara Chandrababu Naidu.
At a press conference here, AP IT Minister Nara Lokesh said while he has total assets of ₹26.39 crore, the bank loans and advances accounted for ₹11.17 crore, leaving him a net assets of ₹15.21 crore. His wife, Nara Brahmani, owns net assets to the tune of ₹15.01 crore. The liabilities stood at ₹36.14 lakh. N. Devansh, his son, has fixed deposits worth of ₹11.54 crore.
His father and Chief Minister N. Chandrababu Naidu has more liabilities than his assets. His total liabilities are ₹5.64 crore, while the net assets are ₹2.53 crore. Mr. Naidu took a housing loan of ₹5.60 crore from Bank of Baroda and has ₹40 lakh in savings account and owns an Ambassador car worth of ₹1.52 lakh. He has a residential building in Hyderabad worth of ₹7.75 crore.
Mr. Lokesh’s mother, Nara Bhuvaneswari, owns net assets worth of ₹25.41 crore, while the liabilities are ₹20.90 crore. She owns an Audi car worth of ₹91.93 lakh and has ₹7.44 lakh in savings account.
The Naidu family has also been disclosing the assets of Lokesh’s two-year-old son, Nara Devansh. The value of properties registered in Devnash’s name went up only marginally, from Rs 11.32 crore to Rs 11.54 crore.
The minister of state also declared that 4 Crores as spending for reconstruction of their residence in Hyderabad. Other possessions include Provident fund of 30 lakhs, shares in Heritage group. As per his declaration, there is no change in his father Chandrababu’s net assets.The assets declared by Lokesh reveal that his 2 years old son Devansh is wealthier than his father Chandrababu Naidu.
Further Minister challenged the YSR Congress and other opposition parties to come for a debate on the assets and bank deposits owned by his family. But no one was coming forward. Neither they have dislosed the details of thier properties, he said. Lokesh clarified that he was declaring all the value of all the assets only as per the acquisition value and not the market value, since the latter would vary from time to time.