It has gone up to Rs. 4.4 crore from Rs. 99.42 lakh in 2008; his wife hold assets worth Rs. 43.18 lakh

The value of assets belonging to Chief Minister Jagadish Shettar have increased considerably in the last five years, according to the affidavit furnished by him while filing his nomination papers in Hubli on Wednesday.

The assets of Mr. Shettar have grown by over four times and that of his wife by two times in the last five years.

While the value of Mr. Shettar’s assets was Rs. 99.42 lakh in 2008, it increased to Rs 4.44 crore now. His wife, Shilpa, had assets worth Rs. 21.06 lakh in 2008 and now she holds assets worth Rs. 43.18 lakh.

Mr. Shettar had immovable assets worth Rs. 78 lakh in 2008, which now has gone up to Rs. 3.64 crore. And his family, which has no vehicles now, has maintained the same quantity of gold of 1,310 gm as it had in 2008.

Mr. Shettar holds 20 per cent share in three acres of agricultural land in Chavargudda near Hubli and owns two plots, one in Keshwapur (1383 sq.ft) in Hubli and another in R.T. Nagar, Bangalore (BDA site measuring 3991 sq.ft).

Mr. Shettar owns two houses, measuring 11,780 sq. ft of area worth of Rs. 1 crore in Madhura Estate in Hubli and has an office space of 432.50 sq.ft in the same area. The value of his movable assets has grown from Rs. 20.64 lakh in 2008 to Rs. 80.47 lakh now.

He has a loan of Rs. 18.97 lakh.

Interestingly, Mr. Shettar has lent Rs. 42 lakh to his son, Prashant, and has taken a loan of Rs. 6.96 lakh from his wife Shilpa and she has lent Rs. 2.40 lakh to their sons Prashant and Sankalp. Mr. Shettar has to pay Rs. 7.51 lakh to his undivided family members and Rs. 4.5 lakh to brother Pradip Shettar.

The name of Mr. Shettar’s elder son, Prashanth, who had assets worth Rs. 11.41 lakh in 2008 doesn’t find a mention in the affidavit as he is no longer dependent on his father now. Sankalp who had assets worth Rs. 14,000 in 2008 has assets worth Rs. 7.20 lakh now.

Mr. Shettar has filed income tax returns for an income of Rs. 2.64 lakh during 2011-12 and his wife Shilpa has filed IT returns in 2006-07 for an income of Rs. 1.46 lakh.

More In: KARNATAKA | NATIONAL