Gujarat: BJP MP Vinod Chavda’s assets grow nearly 600% in five years, liabilities grow toohttps://indianexpress.com/elections/lok-sabha-elections-gujarat-bjp-mp-vinod-chavda-assets-grow-nearly-600-in-five-years-liabilities-grow-too-5655637/

Gujarat: BJP MP Vinod Chavda’s assets grow nearly 600% in five years, liabilities grow too

In 2014, Chavda, then a member of Kutch district panchayat, had declared total assets worth Rs 56.18 lakh in the affidavit attached with his nomination papers as a BJP candidate for Kutch Parliamentary seat.

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According to his latest affidavit, Vinod Chavda purchased an Innova car valued at Rs 14.49 lakh on May 28, 2014, just two weeks after the results of the Lok Sabha elections were declared. (Representational Image)

BJP MP Vinod Chavda’s assets grew from Rs 56.18 lakh to Rs 3.35 crore, a jump of almost 600 per cent in five years since he won his maiden Parliamentary election from Kutch Lok Sabha seat in 2014, according to the affidavits filed by him. His liabilities also increased — from Rs 4.11 lakh to Rs 1.24 crore or about 3,000 per cent.

In 2014, Chavda, then a member of Kutch district panchayat, had declared total assets worth Rs 56.18 lakh in the affidavit attached with his nomination papers as a BJP candidate for Kutch Parliamentary seat. This figure is now Rs 3.35 crore, according to the affidavit he appended to his nomination papers that he filed on Tuesday as a BJP nominee for the same seat. This amounts an increase of 596 per cent.

An advocate by profession, Chavda had declared movable assets worth Rs 36.18 lakh and immovable assets worth Rs 20 lakh in 2014. Of the movable assets, Rs 24.63 lakh were in his name, Rs 7.4 lakh in his wife Savitri’s name, Rs 2.5 lakh in his son Priyanshu’s name and Rs 1.65 lakh in daughter Vishwa’s name. They included 10.36 lakh worth of jewellery and a Maruti Ritz car worth Rs 5.8 lakh. The only immovable property that then 35-year-old Chavda had enlisted was his 375 sqm house in Arihantnagar in Bhuj town in Kutch, valued at Rs 20 lakh.

He had also declared liabilities worth Rs 4.11 lakh, comprising Rs 3.13 lakh housing loan and Rs 97,000 car loan.

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According to his latest affidavit, Chavda purchased an Innova car valued at Rs 14.49 lakh on May 28, 2014, just two weeks after the results of the Lok Sabha elections were declared. A few months later, he purchased a new 209 sqm house near his existing house for Rs 40 lakh. The market value of this home is now estimated to be Rs 1.33 crore, his affidavit states. Click here for more election news

In 2017, Chavda purchased 3.5 hectare agricultural land in Manjal village of Nakhtrana taluka in Kutch district at Rs 10.26 lakh. The market value of this land is now estimated to be Rs 14 lakh. He purchased another piece of agricultural land measuring 2.5 hectare in Nadapa village of Bhuj taluka in Kutch with a partner at Rs 5.65 lakh in January 2018. The MP then got this land converted into non-agricultural land and set up a China clay washing plant with his partner. The present market value of Chavda’s share in this piece of land is estimated to be Rs 1.05 crore

Chavda, who holds degrees in law and arts, also got one-eighth share in his family land at Fulay village in Nakhtrana. That share, he stated in his affidavit, is worth Rs 85,000.

In all, his total assets jumped to Rs 3.35 crore by early 2019. They comprised Rs 46.37 lakh movable assets, including Rs 31 lakh in his name, Rs 9.68 lakh in his spouse’s name, Rs 2.5 lakh in son’s name and Rs 3.15 lakh in daughter’s name.

Chavda’s own movable assets increased by Rs 6.4 lakh or by 26 per cent mainly due to purchase of a new car and an insurance policy while those in his wife’s name increased by Rs 2.27 lakh or 30 per cent due to purchase of jewellery. His dependent daughter’s immovable assets grew by 151 per cent to Rs 3.15 lakh due to investment in Sukanya Samrudhhi scheme of postal department.

However, Chavda’s immovable assets showed the biggest jump. They went up from Rs 20 lakh in 2014 to Rs 2.88 crore in 2019, an increase of 1343 per cent. He added a new home worth Rs 1.33 crore and land worth around Rs 1.3 crore.

In 2014, Chavda had mentioned legal practice as his profession. However, in 2019, he stated business and agriculture as other activities besides legal practice as his occupation. He also mentioned his salary as MP in his sources of income.

His income tax returns also showed a spike in his income soon after he became MP. In financial year 2013-14, his annual income was Rs 2.93 lakh. It almost doubled to Rs 6.1 lakh in the next fiscal year. Since then, his income has seen a progressive rise and it was Rs 7.62 lakh in 2017-18.

With increase in his assets, Chavda’s liabilities also saw a huge jump. His liabilities in 2019 stand at Rs 1.24 crore, around Rs 1.2 crore more as compared Rs 4.11 lakh in 2014. This amounts to an increase of 3029 per cent.

His liabilities include Rs 10.71 lakh agricultural loan, Rs 27.88 lakh home loan, Rs 13.48 lakh loans from two private individuals and Rs 72.5 lakh that he owes to Earth Industries, a private firm.

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