The assets of Telugu Desam Party (TDP) chief N Chandrababu Naidu and his family have increased by more than 39% in the last five years, as per the election affidavit filed by his wife Nara Bhuvaneshwari on Friday, April 19. The affidavit, uploaded on the Election Commission of India’s website, noted that the increased assets amounted to Rs 931 crore. The former Andhra Pradesh Chief Minister is contesting the upcoming state Assembly elections from the Kuppam constituency in Chittoor district.
As per the affidavit, Naidu has movable assets of Rs 4.80 lakh including an ambassador car valued at Rs 2.22 lakh. His wife, who is also the managing director of the family-owned company Heritage Foods private limited, has no vehicle. The couple’s cumulative assets grew by 39% in the last five years to Rs 931 crore, in comparison to assets valued at Rs 668 crore in 2019. Bhuvaneshwari’s movable assets alone amount to Rs 810.37 crore, which includes her Heritage shares of Rs 763.93 crore.
Bhuvaneshwari, who is the daughter of former Andhra Pradesh Chief Minister and TDP founder NT Rama Rao (NTR), owns immovable assets of Rs 85.10 crore including agricultural land and commercial property in Tamil Nadu’s Kancheepuram district. Naidu’s immovable assets are valued at Rs 36.31 crore including a house in Hyderabad's Jubilee Hills, which he jointly owns with his son Nara Lokesh.
The affidavit also shows that he had no income during 2022-23, while his wife's income for the same financial year was Rs 11.34 crore. Naidu's income during 2021-22 was Rs 18.39 lakh, while that of his wife was Rs 20.31 crore. The former chief minister is also named in 24 cases including allegations related to the Amaravati land scam, the fibernet scam, and the skill development scam, in which he was arrested in 2023.
Naidu and Bhuvaneshwari have liabilities worth Rs 3.48 crore and Rs 6.83 crore respectively in the form of loans. The TDP chief has also listed a liability of Rs 6.04 lakh in connection with an income tax dispute.