BJP candidate Nagaraj richer by more than Rs 160 crore

BJP candidate Nagaraj richer by more than Rs 160 crore

M T B Nagaraj

Hoskote BJP candidate M T B Nagaraj’s net worth is a little over Rs 1,200 crore, according to an affidavit he submitted to the Chief Electoral Officer on Friday. The Congress rebel’s assets have grown by more than Rs 160 crore over 18 months. While he declared assets worth Rs 1,015.43 crore during the previous Assembly elections in 2018, this year it is about Rs 1,223 crore.

Interestingly, there were 53 deposits into his accounts between August 2 and 7 this year, each more than Rs 90 lakh, amounting to about Rs 48.76 crore. Another deposit in July indicates Rs 1.16 crore. Incidentally, this was around the time the Congress-JD(S) coalition government crumbled after 17 MLAs from both the parties, including M T B Nagaraj, defected.

This year, his movable assets are Rs 419.28 crore, while his wife’s are Rs 167.34 crore. His immovable assets are valued at Rs 417.11 crore in self-acquired property and Rs 2.64 crore in inherited property. On the other hand, his wife’s self-acquired property is valued at Rs 189.14 crore, while her inherited property is valued at Rs 27.50 lakh. He has also showed loans of Rs 27.90 crore and Rs 1.57 crore between him and his wife.

He has shown 57 acres of agricultural land in his name and four acres in his wife’s name. He owns gold and silver articles worth Rs 2.23 crore in his name and Rs 1.48 crore in his wife’s name.

His fixed deposits itself run into Rs 134.56 crore, while his wife’s are Rs 32.40 crore. His deposits spread over 193 bank accounts between him and his wife.

His immovable assets include wedding halls, an educational institution and commercial buildings in Indiranagar, Magrath Road and Richmond Road among other places. He has 93 parcels of non-agricultural land in Whitefiled, KR Puram, Hoskote, Mahadevpura, Puttur and Kottur.

Nagaraj also owns high-end cars all worth Rs 2.54 crore including Prado, Fortuner, Benz, Bolero, Land Rover and an i10. His wife owns a Porsche worth Rs 1.72 crore.

His candidature comes amid opposition within the BJP cadre. His nomination had led to Sharath Bachegowda distancing himself from BJP and wanting to contest as an independent candidate from Hoskote.