Meet Parag Shah, Maharashtra’s richest MLA candidate, who earns ₹13.7 crore per annum, lives in a 15-crore bungalow and drives a Ferrari California

• Parag Shah is the richest candidate in Maharashtra contesting for state elections.
  
• He declared assets worth ₹500.6 crore in his affidavit.
  
• Shah is a BJP candidate who reportedly earns ₹13.7 crore per annum, mostly through his real estate business, the Times of India reported citing IT returns.
  
• He lives in a 5,710-sq ft bungalow in Thane which reportedly cost him ₹15 crore.
  
• He and his wife own 10 properties, jewellery over ₹2.6 crore and a Ferrari California worth ₹2.45 crore.

BJP’s Parag Shah is the richest candidate to be contesting Maharashtra state elections from the Ghatkopar East assembly. He declared assets worth ₹500.6 crore.

His movable assets are worth ₹422 crore and immovable assets are worth ₹78 crore as per an affidavit submitted on Friday. The properties are jointly owned by him and his wife.

Shah is a real estate developer who owns and manages two construction companies. One of them is MAN InfraConstruction (MICL), a seven-year-old company which builds premium residential properties in Mumbai suburbs. He himself lives in a 5,710-sq ft bungalow in Thane, valued at ₹15 crore.

Parag and his wife Mansi own 10 properties, jewellery worth ₹2.6 crore and a Ferrari California worth ₹2.45 crore. They also have shares which are valued at ₹299 crore.

According to his IT returns, his annual income for 2018-2019 is at ₹13.7 crore. Whereas, his wife earned ₹11.4 crore during the same time.

Shah’s political career began in two years back when he contested Mumbai civic election. Back then, he claimed to have assets worth ₹690 crore.

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