It is statutory for every contestant who is in the fray either for Legislative Assembly or Lok Sabha elections to submit a certified statement of assets owned by him or her.
Now that the process of finalizing the candidates is completed for AP Legislative Assembly and Lok Sabha, the richest contestants as per the affidavits submitted by them to Election Commission are revealed.
In the descending order, they are Lagadapati Rajagopal, Congress candidate for LS from Vijayawada, Chiranjeevi, PRP president contesting APLA from Palakole and Tirupathi, Y S Jaganmohan Reddy, son of chief minister Rajasekhara Reddy, Congress candidate for LS from Kadapa and Nara Chandrababu Naidu, TDP supremo, contesting APLA from Kuppam.
Lagadapati owns properties and cash to the tune of Rs 299 crore, Chiranjeevi Rs 88 crore, Jaganmohan Reddy Rs 77 crore and Chandrababu Naidu Rs 68.70 crore.
According to an Income Tax consultant, all these assets that are declared to EC may only be the on-the-record properties and there could be more to what they have shown to the EC and the family members of the contestants also may own other assets.