Modi has Rs 40 lakh worth assets

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Ahmedabad, Nov 28 (UNI) Gujarat Chief Minister Narendra Modi today declared to the Election Commission that he has assets worth Rs 40 lakh and does not own any vehicle and has no cases against him.

According to the disclosure made by Mr Modi at the time of filing his nomination from Maninagar Assembly constituency today, he has assets worth Rs 40 lakh.

Mr Modi, who is 57 and a bachelor, declared that he owns a house in Sector-I area of Gandhinagar built on an area admeasuring 326.22 square metres. It was purchased for about Rs 1.30 lakh and the current market value was Rs 30 lakh. He also stated in the affidavit that he is a resident of Ranip in Ahmedabad and has no farm or commercial land.

The Chief Minister also declared that he did not own any vehicle but had Rs 8 lakh in bank deposits at SBI's Gandhinagar Sachivalaya branch. In the same branch, his saving bank account had an amount of Rs 55,000. He also submitted that he possesses Rs 11,200 in cash and had three gold rings worth Rs 50,000.

Mr Modi said he has not invested in bonds, shares or debentures of any company, and had not availed of any bank loan either. He, however, held National Saving Certificates worth Rs 3.39 lakh.

A postgraduate in political science from Gujarat University, Mr Modi stated he has filed his income tax returns for the assesment year 2007-08.


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