Maharashtra Election Result: Rs 338300000000 property, what happened to Maharashtra’s richest candidate in election?

BJP candidate Parag Shah won the Ghatkopar East seat marking another victory in his political career. He is the wealthiest candidate in Maharashtra.

Mumbai: The Maharashtra Assembly election results are out, with the Mahayuti (BJP-led alliance) securing a sweeping victory. Among the candidates, one who contested from the Ghatkopar East seat made headlines. BJP’s Parag Shah, Maharashtra’s wealthiest candidate, contested from Mumbai’s Ghatkopar East seat and successfully retained it, marking another victory in his political career.

Parag Shah Won Ghatkopar East seat

Parag Shah defeated Rakhi Jadhav, from the Sharad Pawar-led NCP faction by a margin of 34,999 votes. Shah received 85,388 votes, while Jadhav secured 50,389 votes. The victor marks Shah’s second consecutive win from the Ghatkopar East constituency.

Declared Wealth: Parag Shah’s net worth is Rs 3,383 Crore

According to Parag Shah’s affidavit, which he submitted to the Election Commission, he is the wealthiest candidate in this year’s elections. His declared assets exceed Rs 3,383 crore. His wealth also includes Rs 67.53 crore in immovable property. Over the last five years, Shah’s wealth has grown by 575 percent. During the 2019 Assembly elections, Shah declared assets worth Rs 550.62 crore.

Who Is Parag Shah?

Parag Shah is a famous real estate tycoon. He is the chairman of MICI Group for over 25 years. The 55-year-old businessman entered politics in 2017, becoming a municipal corporator from Ghatkopar East on a BJP ticket. In 2019, Shah fought his first Assembly election, which was won by a landslide victory with over 53,000 votes.

It’s worth noting that Shah’s name surprisingly didn’t appear in BJP’s initial candidate list for Maharashtra’s 2024 Assembly elections, sparking curiosity about his prospects. Furthermore, rumours are swirling as Maharashtra BJP bigwigs like Bharti Lavhekar of Versova and Sunil Rane from Borivli have been caught up in hushed talks with Deputy Chief Minister Devendra Fadnavis, kindling rumours about potential successors.

This win further cements Parag Shah’s position as a key figure in Maharashtra’s political and real estate landscape.