VIJAYAWADA: IT Minister Nara Lokesh disclosed the assets and liabilities of his family including that of his father and Chief Minister N Chandrababu Naidu. The total net assets of Nara’s family for 2016-17 stood at Rs 69.71 crore. Naidu’s personal assets stood at Rs 2.53 crore while his grandson Nara Devansh’s assets stood at Rs 11.54 crore. Naidu has more liabilities than assets as his total liabilities stand at Rs 5.64 crore. Nara Bhuvaneswari, wife of Naidu, has total assets of Rs 25.41 crore and liabilities of Rs 20.90 crore.
Lokesh has assets worth Rs 15.21 crore and his wife Brahmani has assets worth Rs 15.01 crore. Their liabilities stand at Rs 11.17 crore and Rs 34 lakh respectively. Though he is seen travelling in a convoy of bulletproof Tata Safari vehicles and even used a modern state-of-the-art bus as Chief Minister, Naidu only owns an old Ambassador car valued at Rs 1.51 lakh.
Value of Naidu’s house in the posh Jubilee Hills in Hyderabad has been mentioned as Rs 7.75 crore (the market value is estimated to be more) and it is pledged with Bank of Baroda. His bank balance was mentioned as Rs 40.03 lakh. On the other hand, Naidu’s wife Bhuvaneswari owns an Audi valued at Rs91.93 lakh. Lokesh owns a Ford Fiesta and two bulletproof Fortuners. His wife has no car.
It was the seventh year that his family disclosed assets and liabilities. Usually, the family used to disclose the assets at NTR Trust Bhavan in Hyderabad, but for the first time, Lokesh disclosed it in his family’s Undavalli residence in the capital region. He claimed he and his family are living on the profits earned on the business of vegetables and milk (Heritage).