The total wealth of the 29 Mumbai MLAs who are seeking re-election has increased by 77 per cent from Rs 577.66 crore in 2014 to Rs 1,024.57 crore in 2019, as per declarations in their election affidavits. There are five MLAs who have registered an increase of over 200 per cent in their wealth. At the top is AIMIM MLA from Byculla, Waris Pathan, whose assets grew by 416 per cent from Rs 3.06 crore in 2014 to Rs 15.80 crore in 2019.
Mumbai has 36 constituencies. Of the 36 MLAs elected in 2014, 29 are seeking re-election. Six have been denied a ticket, while Bala Sawant, Bandra East MLA, passed away in 2015.
The major individual gainers after Pathan are Shiv Sena MLA from Kurla, Mangesh Kudalkar, who has registered a 339 per cent increase in wealth from Rs 1.01 crore to Rs 4.44 crore. He is followed by BJP MLA from Versova, Dr Bharti Lavekar, whose assets have increased by 267 per cent from Rs 1.56 crore to Rs 5.73 crore. The fourth highest increase has been registered by Shiv Sena MLA Sada Sarvankar from Mahik, who has shown an increase of 263 per cent from Rs 7.06 crore to Rs 25.63 crore.
The wealthiest MLA in Mumbai is BJP legislator from Malabar Hill, Mangal Prabhat Lodha, who owns property worth Rs 441.64 crore. His wealth grew by 122 per cent from Rs 198.61 crore in 2014. He is followed by SP’s Abu Asim Azmi, who represents the city’s poorest constituency of Mankhurd. His personal wealth is Rs 209.8 crore. He is followed by Congress MLA from Mumbadevi, Amin Patel, whose personal wealth is Rs 44.65 crore, an increase of 20 per cent over Rs 37.22 crore in 2014.
The least wealthiest MLA in Mumbai is Shiv Sena’s Tukaram Kathe, who represents the Anushakti Nagar constituency.
He has assets of Rs 2.74 crore, an increase of 100 per cent over 2014 when he had declared property valued at Rs 1.37 crore.
The financial health of a candidate is often seen as an important factor in asserting his winnability from a constituency. A study conducted by the Association for Democratic Reforms showed that in the 2014 elections, 33 per cent of the candidates who declared assets of Rs 5 crore and above were elected, whereas less than 1 per cent of candidates with declared assets of less than Rs 10 lakh were elected.