BJP's Komatireddy Rajgopal Reddy, wife declare assets worth Rs. 275 cr: Munugode bypoll

MUNUGODE: Komatireddy Rajgopal Reddy, who filed his nomination as the BJP candidate for the Munugode Assembly by-election on Monday, has total assets worth Rs 222.68 crores. According to the sworn affidavit submitted to the Returning Officer and uploaded on the website of the Election Commission of India (ECI), his declared wealth includes movable and immovable assets and cash on hand.

As per the affidavit, his wife K Laxmi holds properties worth Rs 52.45 crores including movable and immovable assets, jewellery and cash.

Significantly, both Rajgopal Reddy and his wife do not own any motor vehicle or a car, the affidavit claims. While he holds 1,080 grams of gold worth Rs 51.67 lakhs, his wife has 3,996 grams of gold jewellery valued at Rs 1.91 crores, 20 kgs of silver worth Rs 13.30 lakhs and diamonds (30 carat) at a purchase value of Rs 94.42 lakhs under her name.

Among the agricultural land mentioned in the affidavit, Rajgopal Reddy and his wife own lands under several survey numbers in Brahmana Vellamala of Narketpally mandal and Nerada in Chityal mandal of Nalgonda district. The couple also have several properties, classified under non-agricultural land assets, in Kokapet of Rangareddy district and Athwelly of Medchal district, all worth about Rs 121.51 crores as per current market value.

Among commercial buildings and apartments, Rajgopal Reddy owns Cyber Spazio, located on Road No.2, Banjara Hills, besides a few flats in Kondapur of Rangareddy district. The total worth of his commercial properties hovers around Rs 30 crores. The ex-Munugode legislator also holds over Rs 60 crores in the form of personal loans given out to others.

While he claims in the affidavit that he owes no debts to banks or financial institutions, his total liabilities in the form of loans secured from individuals, rent advance and advance against sale of land stands at Rs 61.55 crores. One among them is a Rs 59.95 crore advance against the sale of land from Visaka Industries, a company owned by BJP leader G Vivekanand.