When compared to his political rivals N Chandrababu Naidu and Chiranjeevi, chief minister N Kiran Kumar Reddy's assets may be a pittance, but if what he has declared is to be believed, he is much richer than his 'guru' and predecessor Y S Rajasekhara Reddy.
As per the declaration submitted along with the 2009 election affidavit, the assets of the Kiran family, including his wife Radhika and son Nikhilesh, stands at Rs 8,11,43,535. This comprises Rs 1,40,14,375 in movable assets and Rs 6,71,29,160 in immovable assets. However, if only his assets were to be calculated, they amount to Rs 6,38,86,035.
Kiran's assets include three houses, one in the city and two in his native Chittoor district. He has taken two loans from Andhra Bank, Somajiguda branch, where the outstanding amount at the time of the assembly elections on March 1, 2009, was Rs 2,09,784 and another loan for which the outstanding amount was Rs 4,34,028 from the same bank. His house at MLA Colony, Road No. 12, Banjara Hills, is valued at Rs 2.71 crore. The new chief minister will now move in an official motorcade, but on his own, he had bought three cars for himself, the first being a Maruti 800 in 2000, a Hyundai Verna in 2006 followed by a Mahindra Scorpio in 2008.
Apart from the agricultural land he has in Chittoor, Kiran Kumar Reddy and his family have non-agricultural land of more than four acres in Bangalore of which three acres are in his name. For some reasons, the new chief minister has entered into an agreement to sell part of the three acre land he owns at Kodigehalli village, K R Puram Hobli, Bangalore East.
While the current market value of the land is Rs 2 crore, Kiran said he got Rs 45 lakh as advance for the proposed sale of the land. Going by his declared assets, Kiran Kumar Reddy does not seem to be a person who gambles on his finances.
He has got Rs 15 lakh in various bank accounts, jewellery and land but has got nothing in shares.
In comparison, Kiran Kumar Reddy's bete noire, Telugu Desam Party chief N Chandrababu Naidu, declared Rs 68 crore assets in his election affidavit while Prajarajyam Party (PRP) president K Chiranjeevi declared Rs 88 crore.
Though Kiran Kumar Reddy is 'poor' when compared to Naidu and Chiranjeevi, his assets are much higher in comparison to what Y S Rajasekhara Reddy had declared. YSR, who as chief minister led the Congress party to victory in the 2009 elections, had declared a mere Rs 1.32 crore as his personal assets.