Nara Lokesh declares his family assets-Chandrababu Naidu has liabilities more than assets

Friday, December 8, 2017

TDP national general secretary and Minister for IT and Panchayat Raj Nara Lokesh today announced his and his family members’ assets.

Speaking at a press conference, he said that he has a total assets of Rs.26.39 crore, bank loans and advances accounted for Rs.11.17 crore, leaving his net assets at Rs.15.21 crore. His wife Nara Brahmani, owns net assets to the tune of Rs.15.01 core while the liabilities stood at Rs.36.14 lakh. Devansh, his son has fixed deposits and house property of Rs.11.54 crore.

Lokesh said that his father Nara Chandrababu Naidu has more liabilities than assets. His total liabilities are Rs.5.64 crore while the net assets are Rs.2.53 crore. He took a housing loan of Rs.5.60 crore from Bank of Baroda and has Rs.40 lakh in savings account and owns Ambassador car worth Rs.1.52 lakh. He has a residential building in Hyderabad worth Rs.7.75 crore.

Lokesh’s mother, Nara Bhuvaneshwari owns net assets worth Rs.25.41 crore, while her liabilities are Rs.20.90 crore. She owns an Audi car worth Rs.91.93 lakh and has Rs.7.44 lakh in savings account.

He said that he and his family members were declaring their financial position for the past seven years. ‘We are declaring the assets taking the value at the time of acquiring them and not the present market value, which keeps fluctuating’, he said.

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