Chandrababu Naidu’s 3-year-old Grandson Richer by 16 crores

Guwahati: In a voluntary show of transparency by the Chandrababu Naidu family, it has lately come into light that the Andhra Pradesh CM’s 3-year-old grandson is much richer than his grandfather. Whether you call it shocking, surprising or satirical, but the truth is that the AP Chief Minister with the unveiling of his family’s net assets have proved it the money he has earned in its entire lifetime is nothing in comparison to what his grandson has earned in just 3 years!

As stated, Chandrababu Naidu’s net assets is 2.99 crore which grew by 18.18 percent from previous year’s Rs 2.53 crore. Naidu’s son Nara Lokesh who is IT and Panchayat Raj minister in Andhra Pradesh has disclosed a wealth of Rs 21.40cr. His wealth too registered a 30 percent growth over Rs 15.21cr during the previous year. Naidu’s wife Bhuvaneswari who is the head of Heritage Foods Limited showed net assets worth Rs 31.01cr which was 25.41cr in the previous year. Things looked feasible and normal till here, but when the family stated that the youngest in the family, Chandrababu Naidu’s grandson, who is only 3-year-old, surpassed his grandfather in terms of wealth! The Little Devansh possesses assets worth Rs 18.71crore.

As the family has been disclosing their assets and liabilities voluntarily since the last 8 years, this is commendable, but what is not digestible is the illogical amount of wealth possessed by the youngest member in the family.

When media asked Lokesh, over the growth of his properties, he said, “We only go by the current market value of properties based on the prices prevailing at the time of acquisition”. Notably, Lokesh has gained a multi-fold increase in the value of his properties and especially the shares in the Heritage Foods Limited in a span of six months.

Chandrababu’s liabilities in the form of a home loan obtained from Bank of Baroda stood at Rs 5.31 cr with a cash balance of Rs 4.83 lakh in the savings bank account of a nationalized bank, National Savings Certificate with a face value of Rs 1,000.

Other assets disclosed by the Andhra Pradesh CM are an ambassador car worth Rs 1.52 lakh which was purchased in 1993-94, a residential building costing 23.84 lakh built in 0.97 acres.

Also read: Andhra CM N. Chandrababu Naidu inducts 2 ministers in the cabinet