West Delhi MP Mahabal Mishra, wife ride high on real estate boom

NEW DELHI: West Delhi MP Mahabal Mishra seems to have gained the most from the city's real estate boom. In the past five years, there has been an exponential increase in Mishra's and his wife's assets. Their immovable belongings, which were valued at Rs 2.75 crore in 2009, are worth Rs 33.46 crore today.

While Mishra alone has assets pegged at Rs 16.66 crore-Rs 13.81 crore of immovable property and Rs 2.85 crore of movable assets. His wife, meanwhile, has immovable property worth Rs 19.65 crore. Mishra has derived the maximum benefit from his old investments in areas like Nangloi, where he and his wife own six Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) sheds; Mahavir Enclave, and Vijay Enclave near his residence in Dwarka.

After being elected as MP in 2009, Mishra has bought two properties-a non-agricultural land in Mundka and a DSIDC shed in Nangloi Industrial Area. The 2,500 sq yard non-agriculture land which he had bought in 2009 for Rs 10.10 lakh, is now worth Rs 2.5 crore. The value of the DSIDC shed, which he had bought for Rs 1.79 crore, has shot up to Rs 2.5 crore.

In the last decade, Mishra has invested heavily in real estate. The couple together has 18 properties, both commercial and residential, across the city. Most of these properties have been bought during his tenure as a municipal councillor and member of the Delhi assembly. Mishra has also inherited property worth Rs 1.32 crore in Bihar.

The couple has movable assets worth Rs 5.35 crore compared to Rs 12.35 lakh in 2009. Apart from policies, Mishra and his wife have invested in equity and term deposits. Mishra and his wife have shares worth around Rs 80 lakh in U&M Overseas Pvt Ltd, an unlisted company.

The couple has capital accounts worth Rs 1.5 crore each in two proprietorship firms. Mishra owns two SUVs worth Rs 45 lakh, while his wife has a Honda Civic. In the past five years, their liabilities have increased from Rs 15 lakh (in 2009) to Rs 86 lakh. The Delhi election commission has so far received 135 affidavits, of which 91 were filed on Friday.

To date, 83 candidates have filed their nominations. The last day for filing nomination is Saturday.