Senior Congress leader VD Satheesan took oath as the new Chief Minister of Kerala on Monday (May 18), marking the return of the Congress-led United Democratic Front (UDF) to power after a decade of Left rule in the state. With the leadership transition now complete, focus has quickly turned to transparency, with Satheesan’s election affidavit offering a detailed account of his personal finances.
Here’s a detailed look at the new Kerala CM’s declared assets, liabilities, income and property holdings.
VD Satheesan’s total declared assets
According to the election affidavit filed by VD Satheesan, the Congress leader and his wife, Lakshmi Priya R, together own assets worth around Rs 5.6 crore, including movable and immovable properties. The declarations include cash holdings, bank deposits, gold, shares, vehicles and real estate assets located primarily in Paravur.
Movable assets
The new Kerala CM declared movable assets worth approximately Rs 53.82 lakh. His disclosed assets include Rs 64,000 cash in hand, Bank deposits and savings, Cooperative bank shares worth Rs 25,000 and around 35 grams of gold valued at nearly Rs 1.15 lakh.
Property and immovable assets
The new Kerala Chief Minister declared immovable assets with an estimated market value of Rs 2.42 crore. These include inherited as well as self-acquired properties in and around Paravur, the Assembly constituency he has represented for over two decades.
The declared valuation is based on current market estimates mentioned in the affidavit filed before the Election Commission.
Assets held by spouse and daughter
VD Satheesan’s wife, Lakshmi Priya R, has separately declared movable assets worth around Rs 68.45 lakh. A substantial portion of her holdings consists of gold jewellery and precious metals. According to the affidavit, she owns nearly 1,128 grams of gold valued at approximately Rs 46.53 lakh. Her immovable assets are estimated at around Rs 1.85 crore.
Meanwhile, the couple’s dependent daughter has declared movable assets worth Rs 9.61 lakh, including a Volkswagen Taigun purchased in 2022.
Loans and liabilities
On the liabilities front, VD Satheesan declared outstanding dues of approximately Rs 24 lakh. This includes a car loan with an unpaid balance of around Rs 3.29 lakh, other borrowings from financial institutions. His wife separately disclosed liabilities amounting to nearly Rs 17.45 lakh.
The affidavit stated that neither his spouse nor daughter has any pending government dues or liabilities linked to public financial institutions.
Annual income declaration
For the financial year 2024-25, Satheesan declared an annual income of Rs 2.84 lakh, primarily earned through his salary and allowances as the Leader of the Opposition in the Kerala Assembly. His wife reported nil income during the same financial year.
UDF returns to power in Kerala
The Congress-led UDF secured a decisive mandate in the recently concluded Kerala Assembly elections, winning 102 seats in the 140-member Assembly.
The ruling Left Democratic Front (LDF), led by Pinarayi Vijayan, was reduced to 35 seats, while the Bharatiya Janata Party won three seats.