ANDHRA PRADESH

Naidu's family declares assets, one-year-old grandson is a millionaire

N Chandrababu Naidu Declaring the assets, Lokesh said "Ours is the only political family in the entire country where all the members have been declaring their assets annually."

Keeping up the tradition, families of Andhra Pradesh Chief Minister Chandrababu Naid and his son and Telugu Desam Party's general secretary Lokesh Nara declared their assets on Wednesday.

While the assets of Lokesh and his family amounted to Rs31.47 crores, he also announced that they had liabilities of Rs 6.35 crores. The total assets of the entire family (including that of Naidu and Lokesh) stood at Rs 60 crore and liabilities at Rs 22.4.1 crore.

Giving details, Lokesh said that assets of the family include immovable properties of Rs 8.15 crores, shares worth Rs 2.52 crores in the family-owned Heritage Food company, and shares worth Rs 1.64 crores in other companies. Lokesh also has a car worth Rs 93 lakhs.

Lokesh’s wife Brahmini’s assets include a house in Jubilee Hills, Hyderabad, worth Rs 3.5 crores, a piece of land in Madhapur area, worth Rs 17 lakhs, another plot in Manikonda area of Hyderabad worth Rs1.23 crores and a commercial plot in Chennai, worth Rs 48 lakhs.

Naidu's one-year-old grand son, Devansh has assets in his name which include a house in Jubilee Hills worth Rs 9.17 crores, fixed deposit of Rs 2.4 crores and cash of Rs 2.31 lakhs.

Naidu’s assets include a house in Hyderabad worth Rs3.68 crores, an old Ambassador car worth Rs 1.52 lakhs and Rs3.59 lakhs in the bank. He also has a liability of Rs 3.06 crores in the form of a bank loan. Naidu's wife Bhuvaneswari, managing director of Heritage Good Co has assets of Rs 38.66 crores and also has liabilities of Rs 13 crores.

Bhuvaneswari’s assets include immovable property worth Rs 24.84 crores which include a land in Punjagutta area of Hyderabad worth Rs73 lakhs, land in Madina Guda in Hyderabad worth Rs73 lakhs, land in Tamil Nadu worth Rs1.86 crores, shares in Heritage Food valued at Rs19.95 crores, shares in other companies worth Rs3.23 crores, gold jewellery worth Rs 1.27 crores and a car worth Rs 91 lakhs.

Declaring the assets, Lokesh said "Ours is the only political family in the entire country where all the members have been declaring their assets annually."He clarified that his father had started this practice while in opposition six years ago to set an example for the entire country.

Lokesh rubbished allegations that his family is not declaring the entire assets and said if the charge was proved, he would immediately transfer the said assets to the person who proved the allegation.

Heritage Food Company which belongs to the family was started 24 years ago and employs 20,000 people. It made a profit of Rs. 55 crores last year.

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