Hyderabad: TRS supremo Kalvakuntla Chandrasekhar Rao's investments (movable assets) grew by Rs 3.89 crore between 2014 and 2018, while the immovable properties that include jewellery, increased by Rs 3.55 crore. The total value of assets owned by him multiplied from Rs 15.15 crore in 2014 to Rs 22.60 crore in 2018.
Identifying himself as an agriculturalist, Mr Rao invested Rs 3.19 crore in the development of his farmhouse in Gajwel, where he spends most of his time.
The money was spent on plants, machinery, water well, and house in the form of a shed. Among his immovable properties, the value of his agricultural land is higher than that of his residential properties.
Over the last four years, he has borrowed a sum of Rs 3 crore from one B. Srinivas Rao as an unsecured loan and Rs 3.75 crore from Pact Securities & Financials. He also owes Rs 82.82 lakh to his son K.T. Rama Rao. His total liabilities are '8.88 crore.
According to the Association of Democratic Reforms, an election watch body, Mr Rao is among the top three crorepati ministers in the TS cabinet based on his declared assets during the 2014 elections. The TRS supremo has two contact numbers, an email id vpreddy003@gmail.com and has no social media accounts.
