Telangana polls: CM KCR declares he has no cars but his son's assets skyrocketed in five years!

Three weeks ahead of crucial assembly polls in Telangana where there is a triangular race between the ruling Bharatiya Rashtri Samiti (BRS), the BJP, and the Congress party, the asset values of Chief Minister and BRS chief K Chandrashekar Rao (KCR) and his son KT Rama Rao have come to revelation from their election affidavits. Telangana has 119 assembly seats and while the polls will be held on November 30, the results will be declared on December 3. 

KCR, the first Chief Minister of Telangana who is in power since 2014, is seeking a third consecutive term by defeating the belligerent Congress and beleaguered BJP. As BRS is rolling up its sleeves to retain the reign, the asset values of top two leaders of the party have made headlines. KCR has declared that he has movable assets worth Rs 17.83 crore in his name, and agricultural lands and other properties worth Rs 8.5 crore. 

Interestingly, as like last time, KCR has declared that he doesn't own any cars or other vehicles in his name and he has declared an annual income of Rs 1.60 crore for the year 2022-23, from his salary as the Chief Minister and interest from the banks. There's a slight surge in his income as compared to what he had five years ago. In 2018, KCR had declared annual income of Rs 1.10 crore and now it stands at Rs 1.60 crore.

The value of his movable assets have also increased in five years. In 2018, KCR declared that he had movable assets worth Rs 10.40 crore and in 2013, the value stands at Rs 17.83 crore. He also had added Rs 4 crore to its kitty of immovable assets in five years. According to his affidavit, his family owns 14 agricultural vehicles including eight tractors worth Rs 1.16 crore. 

KCR has also declared that his wife Shobha has Rs 7.78 crore worth movable assets and they include bank deposits - Rs 6.29 crore and jewelry - Rs 1.49 crore. Notably, his wife has no immovable assets in her name. Under the Hindu Undivided Family (HUF), KCR's family has movable assets of Rs 9.81 crore and properties worth Rs 15 crore. KCR owns houses in Hyderabad's Banjara Hills and in Karimnagar. 

Some of the other properties his family owns include 53 acres of agricultural land worth Rs 1.35 crore and nine acres of non-agricultural land worth Rs 27 lakh in Siddipet district. Chief Minister KCR's assets also include cash worth Rs 2.96 lakh, deposits in bank worth Rs 11.16 crore, gold and diamond jewelry worth Rs 17.4 lakh. While he has made investments worth Rs 2.31 crore and Rs 4.16 crore in Telangana Broadcasting Private Limited and Telangana Publications Private Limited respectively, he has declared liabilities worth Rs 17.27 crore. 

Soaring assets of KT Rama Rao

Chief Minister KCR's son and Telangana Minister KT Rama Rao's assets value had skyrockected in five years. It has come to revelation that Rama Rao's immovable assets have surged eight times since the 2018 assembly polls from Rs 1.30 crore to Rs 10.41 crore. In his affidavit, Rama Rao had declared that he has total assets worth Rs 17.34 crore. He has movable assets worth Rs 6.92 crore in his name and agricultural lands and other properties worth Rs 10.41 crore. 

In 2018, Rama Rao had declared movable assets worth Rs 3.63 crore and in five years, the value got doubled as it now stands at Rs 6.92 crore. As per his affidavit, Rama Rao owns four agricultural lands in Siddipet and he also had declared that he owns 27,360 square feet of non-agricultural land in Rajanna Sircilla district and 11.77 square feet of non-agricultural land in Siddipet. 

Under HUF, Rama Rao has Rs 3.90 lakh in his bank account and he has given personal loans worth Rs 11.02 lakh. His assets also include cash worth Rs 76,170, deposits in six bank accounts worth Rs 27.80 lakh, investment worth Rs 78.05 lakh in Home Hospitality Services Private Limited, Rs 10 lakh in Telangana Broadcasting Private Limited, and Rs 22.01 lakh in D-MAT shares in companies. 

Unlike his father who had declared that he has no cars, Rama Rao has declared that he owns a Toyota Innova car worth Rs 11.03 lakh, gold jewelry worth Rs 2.50 lakh. While his assets also include Rs 57.29 lakh in LIC Insurance policies and Rs 1.33 crore in ICICI prudential insurance policies, Rama Rao also has liabilities worth Rs 67.20 lakh in the form of loans. Rama Rao has also declared that his wife Shailima has Rs 26.49 crore in movable assets and she has immovable assets worth Rs 7.42 crore.