What's the net worth of Parag Shah, Maharashtra's wealthiest candidate
Bharatiya Janata Party (BJP) MLA from Ghatkopar East, Parag Shah, is the richest candidate in the upcoming Maharashtra Assembly elections. The 55-year-old real estate builder and his wife have declared combined assets worth ₹3,382 crore. This includes ₹3,315 crore in movable assets and ₹67 crore in immovable assets. Shah is contesting again from Ghatkopar East in the election on November 20.
Shah's personal assets and income details revealed
Shah's personal movable assets are worth ₹2,179 crore, while his wife's are worth around ₹1,136 crore. In FY 2023-24, Shah declared an income of ₹25.7 crore. This is a huge jump from his last fiscal year's income of ₹22.9 crore. His wife also witnessed a huge jump in income for FY 2023-24 at ₹16.4 crore against just over₹5.8 crore in FY 2022-23.
Shah's investments in bonds, mutual funds, and precious metals
Talking of investments, the BJP leader invested heavily in bonds and mutual funds to the tune of ₹2,129.64 crore. His wife's investments in these instruments are worth ₹1,110.9 crore. Despite their wealth in various forms of investments and assets, the couple doesn't own any vehicles. Shah owns gold, silver, and diamonds worth ₹3.52 crore; his spouse owns similar valuables worth ₹3.17 crore.
Shah's immovable assets and real estate ventures
The immovable assets declared by Shah include ₹1 crore worth agricultural land and over ₹61 lakh worth non-agricultural land. He also owns commercial buildings and residential properties across Mumbai and Thane. His real estate ventures go beyond Maharashtra to Gujarat and Chennai. In 2019, he won the Maharashtra Legislative Assembly seat from Ghatkopar East with a margin of 53,319 votes against Nationalist Congress Party (NCP) candidate Rakhee Jadhav.
