N Chandrababu Naidu’s 3-year-old grandson is richer than Andhra Pradesh CM

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New Delhi | Published: November 22, 2018 12:47:44 PM

The rise in Chandrababu Naidu's assets is modest if we compare it with his son's. The Andhra Pradesh Chief Minister's assets rose by just Rs 46 lakh compared to last year. However, his three-year-old grandson Nara Devaansh is richer than him.

N Chandrababu NaiduAndhra Pradesh Chief Minister N Chandrababu Naidu

Assets held by three-year-old Nara Devaansh are worth six times more than what his high-profile grandfather and Andhra Pradesh Chief Minister N Chandrababu Naidu has declared. While Naidu has net assets worth Rs 2.99 crore, Nara Devaansh boasts of assets worth a staggering Rs 18.71 crore in his name, a declaration of assets and liabilities of the Naidu family has revealed. However, Nara Devansh has failed to beat his father Lokesh. The state Information Technology minister’s assets stand at Rs 21.40 crore, up from Rs 15.21 crore last year.

The hike in Naidu’s assets is modest if we compare it with his son’s. The Chief Minister’s assets rose by just Rs 46 lakh compared to last year. However, CM Naidu’s debt burden decreased from Rs 5.64 crore to Rs 5.31 crore on a housing loan.

On the other hand, Devaansh’s assets grew by over Rs 7 crore this year, 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 family’s assets and liabilities,” Lokesh, who is also the Telugu Desam Party general secretary, said.

The new house CM Naidu 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 net assets worth Rs 31.01 crore, up from Rs 25.41 crore last year. Her “liabilities” too increased from Rs 20.90 crore to Rs 22.35 crore during the year. On the other hand, Lokesh’s wife Brahmani saw her assets decline by half to Rs 7.72 crore from Rs 15.01 crore declared last year. Her liabilities also shot up from Rs 36.14 lakh to Rs 5.66 crore.

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