Prime Minister Narendra Modi does not seem to keep much cash in hand though his total assets have gone up.
The plot of land has appreciated by more than 25 times since it was bought in 2002.
Sahara Samay Property where PM Modi’s mother and brother live
The said residential property is in Gandhinagar, Gujarat, and he owns one- fourth part in it.
The PMO also stated that it is not an “inherited property” and was rather purchased on October 25, 2002, for Rs 1,30,488 with an added “investment on the land by way of development construction, etc.” for an additional cost of Rs 2,47,208.
The property’s value since then has appreciated over 25-times and thus the “approximate current market value” of the property has been disclosed as just over Rs 1 crore (Rs 1,41,14,893 crore as on March 31, 2015.)
Modi’s bank deposits include Rs 94,093 with SBI and Rs 30,347 with Rajkot Nagrik Sahkari Coop Bank Ltd. Besides, he had fixed deposits totalling Rs 30,72,017 with SBI.
He do not own any agricultural land, nor any commercial real estate property.
He also doesn’t have any loans against his name, and holds “four pieces of gold rings” as jewellery holdings.
Gnaana Representational Image
Blue Point Trading Representational Image
The latest disclosures were updated till January 30, 2016, and it states that PM Modi has also invested in Tax Saving bonds like L&T Infra Bonds (Tax Saving) where he invested Rs 20,000; the National Savings Certificates, which is worth Rs 5.45 lakh approximately and few life insurance policies that are worth Rs 1.99 lakh in total.