Andhra Pradesh CM Chandrababu Naidu’s asset value sees drastic fall

Hyderabad: The reason for the difference in assets of Andhra Pradesh Chief Minister N. Chandrababu Naidu is that in the election affidavit, Mr Naidu had showed the market value of the assets while and in his latest declaration he has shown the actual cost, which has made a lot of difference. While in the election affidavit, Mr Naidu had stated that his Jubilee Hills residence was worth Rs 10.14 crore, it has now been shown to be worth only Rs 23.20 lakh.

Read: AP Chief Minister Chandrababu Naidu's assets now Rs 70.69 lakh

Mr Naidu had stated in the election affidavit that he had purchased an Ambassador car in 1994 and its worth was Rs 2.22 lakh. But in the latest declaration he has showed the worth of the same car as Rs 1.52 lakh. If one takes depreciation as the reason for the value of the car coming down, the theory has not been applied to Mr Naidu’s wife, Ms Bhuvaneswari’s Audi car, which was purchased in 2008 and shown to be worth Rs 91.92 lakh. The value of the car has not changed.

Ms Bhuvaneswari had personnel assets worth Rs 167.42 crore according to the affidavit filed by Mr Naidu with the Election Commission, but now her assets have come down to Rs 30.59 crore, within four months. Also, in the election affidavit, Mr Naidu had stated that his wife had 2892 gram of gold worth Rs 69.96 lakh and precious and semi precious stones and pearls (445 carats) worth Rs 67.40 lakh. But in the latest declaration, he has stated that Ms Bhuvaneswari has gold jewellery with precious stones of 3380 gram worth Rs 67.16 lakh. In the election affidavit he had stated that his wife had 33 kg silver worth Rs 13 lakh but in the latest declaration, Mr Naidu has said that his wife has 32.7 kg silver worth Rs 4.57 lakh only.