Mangalore, Apr 16 (DHNS) : Former Minister and BJP candidate from Mangalore North Krishna Palemar is the richest candidate to have filed nomination so far in Dakshina Kannada district.

The high-profile real estate dealer, builder and entrepreneur, in his affidavit filed along with the nomination papers on Monday, has declared that he owns movable property worth Rs 37.61 crore, as against Rs 10.98 crore declared while contesting the Assembly election in 2008. According to the affidavit, his movable property includes bank deposits of Rs 25.70 lakh, bonds and shares of Rs 11.37 lakh, savings and investments of Rs 3.75 crore, loans of Rs 11.26 crore, gold worth Rs 10.81 lakh, other assets worth Rs 21.56 crore and cash in hand of Rs 1 lakh. His other assets are capital investments in business firms like Karavali Housing, Priyanka Enterprises and Prasanna Developers. While his wife Shashikala J, possesses jewellery worth Rs 25.33 lakh and other households worth Rs 50 lakh.

Palemar and his wife jointly own immovable property having the current market price of Rs 27.65 crore, as against Rs 10.42 crore five years ago. Thus the grand total of his movable and immovable assets is Rs 53.06 crore, while it was Rs 21 crore during the last election.

He is also the owner of some of the high-end vehicles, including Prado (Rs 47 lakh), Lancer (Rs 15 lakh) and Bolero. Palemar also owns a revolver for self-protection which is worth Rs 75,000.


Palemar, Bhat, Lobo, Madhwaraj

Change in movable property

Yogish Bhat, a four time MLA from Mangalore South constituency, had movable property worth Rs 11,78,716 and his wife had property worth Rs three lakh during 2008. It has increased to Rs 28,40,046 in his name and Rs 10,26,000 in his wife’s name. Immovable property remains the same with an apartment, and a house in Mangalore, two sites— one in Mangalore and another at HSR layout in Bangalore.

The movable property includes Rs 2,14,000 cash in his hand and Rs 6,000 cash in his wife’s hand. It was Rs 3.18 lakh in 2008. He has bank deposits of Rs 4,46,046 (Rs 60,716 in 2008), mutual funds worth Rs one lakh, Rs one lakh insurance cover from LIC and another Rs 1.5 lakh from ICICI . He has invested Rs 14.2 lakh on business and his wife has invested Rs 5.2 lakh in business by availing loans. He owns a van worth Rs 80,000 and another SUV worth Rs three lakh. Bhat owns jewellery worth Rs 50,000 (Rs 20,000 in 2008) and his wife owns gold jewellery valued at Rs five lakh (Rs three lakh).

The self purchased immovable property is worth Rs 1.39 crore. He owns inherited property worth Rs 1.65 lakh. He owns agriculture land worth Rs 10 lakh and non agriculture land worth Rs 7.5 lakh at Matadakani in Mangalore and Rs 8 lakh worth land in HSR Layout in Bangalore. The present value of these assets are worth Rs 32 lakh and Rs 80 lakh respectively.

He owns a 520 sq ft apartment at Karangalpady. The present market value of the apartment is Rs 16 lakh. He owns 1,800 sq ft house in five cents land at Kodialbail and the market value is worth Rs 54 lakh.

J R Lobo

On the other hand, J R Lobo, a bureaucrat-turned-politician owns, movable property worth Rs 56,71,109 and his wife owns property worth Rs 22,39,686. He does not own a vehicle. He possesses jewellery worth Rs 18,575 and his wife possesses jewellery worth Rs 9.27 lakh.

He owns immovable property worth Rs 24 lakh and his wife owns property worth Rs 2,04,62,500. The self acquired property by Lobo is worth Rs 76,71,107 and his wife’s is worth Rs 98,71,765. He has inherited property worth Rs four lakh and his wife has inherited property worth Rs 1.11 crore.

Richest man in Udupi

Pramodh Madhwaraj, Congress candidate from Udupi constituency, owns Rs 86 crore worth movable property and Rs 11 crore worth immovable property. His wife Supriya owns movable property worth Rs 11,12,95,667 and daughter owns property worth Rs 3,20,000. Mother Manorama Madhwaraj has movable property worth Rs 42,24,874.

The total movable property is worth Rs 97,20,09,679. He owns immovable property worth 10,88,67,726 and his wife owns property worth 95,17,500. He has also availed loan of Rs 43.98 crore and his mother has availed loan of Rs 85,32,016. Udupi constituency BJP candidate B Sudhakar Shetty owns movable property worth Rs 16,56,331. His wife Arundathi Shetty has property worth Rs 57,16,500. He owns immovable property worth Rs 50 lakh and has availed Rs five lakh loan from banks.
His children have availed Rs 13 lakh and Rs 25 lakh loans respectively.