Kulwant has assets of Rs 117.94 crore
SAD- BJP nominee from Fatehgarh Sahib( R) Kulwant Singh, realtor-cum-politician seems to be the richest candidate in the state in fray for the Lok Sabha election 2014. He submitted 21 pages in which declared his total assets of Rs 117.94 crores.Updated: Apr 08, 2014 12:42 IST
SAD- BJP nominee from Fatehgarh Sahib( R) Kulwant Singh, realtor-cum-politician seems to be the richest candidate in the state in fray for the Lok Sabha election 2014. He submitted 21 pages in which declared his total assets of Rs 117.94 crores.
He started as a small property dealer and he became a baron in property dealings. After making big investments in property, he has now started investing in films.
Interestingly, the richest candidate declared only a Mitsubishi Pajero SUV and an Enfield motorcycle in his name in his declaration and similarly he declared a luxury Skoda car and a scooter (Honda Aviator) in his wife’s name Jaswant Kaur.
Matric passed, Kulwant Singh made an investment of Rs 89.92 crores in four companies - Janta Land Promotor(JLP) Ltd, Janta Estates and Housing Development Ltd, Janta Builders pvt Ltd and JLPL Films pvt Ltd.
A first timer contesting election from Fatehgarh Sahib constituency, Kulwant Singh has five residential plots and two commercial plots having worth of Rs 16.45 crores. The residential properties include a house at Ludhiana, one in sector 69 Mohali, other in phase- X, Mohali, sector 71 Mohali, duplex house in Kumar Hatti( Himachal) and a house in Khanna. Kulwant has also two commercial building having value of Rs 4.85 crores which includes two shop-cumoffices(SCOs) in Sector 82, Mohali.
The property baron had shown taxable annual income of Rs 3.77 crores( year 2012-13) as his wife has shown tax Rs 57 lakh( 2012-13).
However, Kulwant has a loan of Rs 18.45 crores and wife has loan of Rs 5.27 crores which indicated that the couple seemed to be interested in investing in property as compared to other articles. From his declaration, it was learnt that Kulwant has less jewellery as compared to his wife as Kulwant has jewellery of
Rs 14.30 lakh where as his wife has jewellery Rs 35.95 lakh.