TDP candidate claims assets worth Rs. 6,700cr | india | Hindustan Times
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TDP candidate claims assets worth Rs. 6,700cr

YSR Congress president Jagan Mohan Reddy's has some serious competition. The Kadapa MP's one-year run on top of the rich lawmakers' list is under threat.

india Updated: Jun 09, 2012 01:03 IST
Ashok Das

YSR Congress president Jagan Mohan Reddy's has some serious competition. The Kadapa MP's one-year run on top of the rich lawmakers' list is under threat.


The man who may deliver the knockout punch, and that too by a mile, is Telugu Desam Party's candidate for Rayadurg assembly seat, Gunapati Deepak Reddy. The 39-year-old landowner and miner is worth a staggering Rs. 6,781 crore, says the affidavit he has given to the Election Commission.

Contesting the Kadapa Lok Sabha bypoll in 2011, Jagan Mohan had declared assets worth Rs. 365 crore.

Reddy's biggest asset is land, including 3,128 acres on the outskirts of the city valued at Rs. 3,128 crore.

But his rivals are not buying into his riches tale. Many of the properties are disputed and he is in litigation with private parties and the government, they say. His returns for 2009-10 show an annual income of only Rs. 3.27 lakh.

Sour grapes, says Reddy. "These properties are mine. Otherwise I wouldn't have listed them," he told HT over the phone from Rayadurg, where he is busy campaigning. Byelections are to be held for one Lok Sabha and 18 assembly seats in Andhra on June 12.

His candidature has come as a surprise. He is hardly known in party circles. "Party chief Chandrababu Naidu picked him up, probably because he has the necessary pedigree (son-in-law of an ex-minister) and the money to match rivals," said a TDP leader.

Whether his mind-boggling wealth makes him poll-worthy would be known on June 14, until then it is Jagan Mohan on top.