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Mumbai: Parag Shah, Bharatiya Janata Party (BJP) candidate for the Ghatkopar East, has shown a remarkable 500 per cent growth in his wealth since the last time he fought the Assembly elections and won in 2019. Today, he registered the net assets of over Rs 3,400 crore. Shah is currently an elected MLA from Ghatkopar East, from where he is re-contesting the 2024 Maharashtra Assembly Election.
After him comes Abu Azmi at Rs 272 crore, Mangal Prabhat Lodha with Rs 140 crore of net assets, and Pratap Sarnaik with that of Rs 133 crore. Others like Aslam Shaikh, Amin Patel and Hitendra Thakur are not in this Rs 100-crore-plus league. However, they can still boast of net assets above Rs 50 crore.
Of the 10 richest MLAs in the Mumbai Metropolitan Region (MMR), five leaders belong to the saffron party, two from Congress, and each from Shiv Sena, Bahujan Vikas Aghadi and Samajwadi Party, said a report by Times of India.
10 Politicians with Lowest Assets
Among the ten politicians with the lowest declared assets, four are from the BJP, three from Shiv Sena-UBT, two from Shiv Sena (Shinde), and one from NCP (SP). This forms part of the 100-crore-plus club, although senior economist Dr Neeraj Hatekar expressed doubt over the accuracy of these figures, questioning how some senior politicians could have assets of only Rs 100 crore.
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He pointed out that many own vast properties, including 100-acre farms and commercial real estate, with benami stakes in companies. These assets often remain underreported or undervalued, and tax agencies rarely verify the hidden income sources behind these declarations, either before or after elections.
"Many have 100-acre farms and commercial properties. Their benami stakes in companies and assets remain underreported and undervalued. Rarely is there any verification of hidden income sources by tax agencies responsible for scrutinising these affidavits before or after polls," he said.
The NCP (SP) candidate, Awhad, has assets exceeding Rs 100 crore but has also declared significant liabilities. Similarly, Mangal Prabhat Lodha, a prominent builder who has represented the Malabar Hill constituency since 2009, saw his net assets decrease from Rs 158 crore to Rs 140 crore, largely due to rising liabilities. Net assets are calculated by subtracting total liabilities from total assets.
Maharashtra Election 2024 Result
The Election Commission of India (ECI), election in Maharashtra will be held in single phase on November 20. Meanwhile, Maharashtra Election 2024 result will be out on November 23.