Karnataka Municipalities Minister N Nagaraju (MTB) has declared total assets worth Rs 1,609 crore, making him one of India’s richest politicians.
Nagaraju is the BJP candidate from the Hoskote constituency, about 30 km from Bengaluru.
Nagaraju and his wife M Shanthakumari together own movable assets worth Rs 536 crore. Their immovable assets are worth Rs 1,073 crore, according to Nagarjau’s election affidavit.
This is a 31 per cent increase from June 2020 when Nagaraju had declared assets while contesting the Legislative Council election. Then, Nagaraju and his wife owned assets worth Rs 1,220 crore.
Nagaraju, 72, has studied up to Class 9. He has declared that his sources of income are agriculture, house property and business.
According to his affidavit, Nagaraju and his wife have liabilities of Rs 98.36 crore, up from Rs 53 crore three years ago.
Nagaraju was one of the 17 MLAs who defected from the Congress-JD(S) coalition in 2019. The former Congress lawmaker lost against independent candidate Sharath Bachegowda in the Hoskote bypoll.
This time, too, Nagaraju is up against Sharath who has formally joined Congress.