Chandrababu Naidu declares assets

Telugu Desam Party (TDP) president N Chandrababu Naidu on Friday declared his assets and those of his family members.

Hyderabad: Facing questions about his wealth in the wake of Anna Hazare`s crusade against corruption, Telugu Desam Party (TDP) president and former Andhra Pradesh chief minister N Chandrababu Naidu on Friday declared his assets and those of his family members.

Naidu told a news conference that if anybody proves that he and his family members own assets other than what he declared, he would hand them over on a platter.

He revealed that the family members own assets worth Rs 39.88 crore. He, however, has assets of only Rs 40 lakh in his name.

Naidu`s son Lokesh has assets of Rs 6.73 crore while the assets in the name of his daughter-in-law Brahmini are valued at Rs 3.22 crore.

Interestingly, Naidu and family had declared assets worth Rs 68 crore in 2009, and about Rs 21 crore in 2004.

The former chief minister on Friday said the value of the assets declared by him was at the time of investment. He clarified that he is not giving the present market value of the assets as the market price fluctuates.

The TDP chief, who was chief minister from 1995 to 2004, said his family has 48 percent equity in Heritage company. He also clarified that the company has debts of Rs 98 crore.

Naidu said he has a house in his name, the value of which at the time of construction was Rs 23.2 lakh. His wife Bhuvaneswari owns a building over 650 square yards of land at Punjagutta in Hyderabad and also has five acre of cultivable land at Madinaguda in Sherilingampalli on the outskirts of Hyderabad.

Naidu declared the assets as pressure was mounting on him from various quarters to do so. The leader of opposition in the state assembly, who participated in the anti-graft protests, was facing questions both from his political rivals and allies like Communist Party of India-Marxist leader BV Raghavulu.

He was also facing questions about his assets in the wake of the Central Bureau of Investigation (CBI) probe into the alleged illegal assets of YSR Congress party chief YS Jaganmohan Reddy and into the Emaar deal.

YSR Congress party is demanding a CBI probe against Naidu as it was his government which allotted lands to Dubai-based Emaar for its realty projects in Hyderabad.

Naidu`s rivals also alleged that he had only two acres of land before he became chief minister but later amassed wealth running into thousands of crores of rupees. They also claimed that Naidu owns a hotel in Singapore.


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