AP CM Chandrababu Naidu's grandson nearly six times richer than him

PTI photo

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu has net assets worth Rs 2.99 crore while his three-year-old grandson Nara Devaansh is richer with assets worth Rs 18.71 crore in his name.

Naidu's son and state Information Technology Minister Nara Lokesh declared the family's assets at a press conference Wednesday.

Lokesh's assets shot up to Rs 21.40 crore from Rs 15.21 crore last year.

Value of Naidu's assets rose by just Rs 46 lakh compared to last year while his debt burden reduced from Rs 5.64 crore to Rs 5.31 crore on a housing loan.

The new house he built in Jubilee Hills, Hyderabad, has been valued at Rs 8.96 crore against Rs 7.75 crore last year.

Naidu's wife Bhuvaneswari is the richest member of the family with netassetsworth Rs 31.01 crore, which rose from Rs 25.41 crore last year.

Her "liabilities" too increased from Rs 20.90 crore to Rs 22.35 crore during the year.

Lokeshs wife Brahmani saw her assets decline by half to Rs 7.72 crore from Rs 15.01 crore last year. Her liabilities shot up from 36.14 lakh to Rs 5.66 crore.

Their son Devaansh, however, grew richer by over Rs 7 crore this year with his assets touching Rs 18.71 crore compared to Rs 11.54 crore last year, as per the figures released by Lokesh.

"This is the eighth consecutive year that we have declared our familysassetsand liabilities," Lokesh, who is also the Telugu Desam Partys general secretary, said.