BRS MLAs Pailla Shekar Reddy, Alla Venkateshwar and MachiReddy Kishen Reddy’s asset’s skyrocketed in 5 years

Telangana: Assets of 90 MLAs seeking reelection in Telangana have increased between 3% and 131%. Likewise, 13 MLAs' assets have decreased between 1% and 79%. BRS Bhongir MLA Pailla Shekar Reddy’s assets have increased by Rs 135, 47 crore since 2018.

In his poll affidavit, he has declared assets worth 227.51 crore in 2023. In 2018, he declared Rs 91.04 Crore in assets. Second in the line is BRS Devarkadra MLA Alla Venkateswar Reddy whose assets have increased by Rs 59.02 crore (from Rs 20.15 crore in 2018 to Rs 79.17 crore in 2023). Manchireddy Kishan Reddy of BRS from Ibrahimpatnam constituency stands third. His assets have risen by Rs 52.59 Crore, (from Rs 7.99 crore in 2018 to Rs 60.58 crore in 2023).

Association for Democratic Reforms, an election watch body based in New Delhi, has analyzed the assets of 103 MLAs who are seeking reelection in Telangana in 2023. The analysis revealed that out of the 103 MLAs, assets of 90 MLAs (87%) have increased between 3% and 1331%, and assets of 13 MLAs (13%) have decreased between 1% and 79%.

Pailla Shekar Reddy, Medak MP Prabhakar Reddy, who was stabbed recently while campaigning in Dubbak, and Nagarkurnool MLA Marri Janardhan Reddy are business partners. They have real estate ventures in Hyderabad and Bengaluru. It is to recall that the I-T department had conducted raids on their properties recently.

Properties of Shekar Reddy along with spouse and other details

1. Movable properties: Rs 125.06 crore (cash, deposits, investments, shares in SLS Pvt Ltd, Nulland Technology, Hilland Tech)

2. Immovable properties: Rs 102.42 crore (agricultural land, commercial buildings)

3. Liabilities: Rs 90 crore

4. Education: Diploma in Civil Engineering from SN Murthy Polytechnic College

There are no criminal cases registered against him. Shekar Reddy. He is contesting against Congress’ Kumbam Anil Kumar and BJP’s G Narayan Reddy. Also in the Riche Rich list is Komatireddy Raj Gopal Reddy, the Congress candidate contesting from the Munugode constituency in Nalgonda district. He is one of the richest MLAs. His assets are over Rs 458 crore. Raj Gopal Reddy and his spouse's assets have gone up by more than 45 percent since 2018 when they declared combined assets worth Rs 314 crore.

While, Marri Janardhan Reddy, BRS MLA of Nagarkurnool constituency has total assets worth Rs 112 crore. Kotha Prabhakar Reddy, a BRS MLA candidate from Dubbak, has assets worth Rs 197 crore. Prabhakar Reddy was recently stabbed with a knife allegedly by a person named G Raju in Surampalli village of Doulthabad mandal when he was campaigning. In the attack, Prabhakar Reddy, who is an MP from Medak Lok Sabha constituency, suffered injuries in his stomach.

And Telangana Congress candidate from Chennur, Gaddam Vivekanand also called Vivek Venkataswamy is one of the richest MLA candidates with assets worth Rs 606.66 crore. He has recently quit the BJP.

Assets of MLAs

Average Assets in 2018 Elections: The average assets of 103 MLAs fielded by various parties including independents in 2018 was Rs 14.44 Crore.

Average Assets in 2023 Elections: The average asset of these 103 MLAs in 2023 is Rs 23.87 Crore.

Average Asset growth in 5 years (2018-2023): The average asset growth for these 103 re-contesting MLAs, between the Telangana Assembly Elections of 2018 and 2023 is Rs 9.43 Crore.

Percentage growth in 5 years (2018-2023): The average percentage growth in assets for these 103 re-contesting MLAs is 65%.