V D Satheesan Net Worth: Property in Paravur, gold & more make new Kerala CM worth ₹5.6 crore

After a decade-long Left rule, Kerala is all set for a regime change with a 21-member United Democratic Front (UDF) cabinet led by senior Congress leader VD Satheesan, who will be sworn in as the Kerala Chief Minister on Monday at 10 am.

Here's a look at the new Kerala CM, VD Satheesan's net worth.

VD Satheesan Net Worth

According to the mandatory declaration submitted to the Election Commission, Satheesan and his wife, Lakshmi Priya R, together declared a gross total assets of around ₹5.6 crore, categorised into movable and immovable properties.

Satheesan declared movable assets worth ₹53.82 lakh, while his wife’s movable assets are valued at ₹68.45 lakh. The couple’s assets include cash, bank deposits, gold and shares.

Movable Assets: Satheesan’s movable assets are valued at ₹53.82 lakh ( ₹53,82,286). This portfolio includes ₹64,000 in cash in hand, various bank deposits, small investments in cooperative bank shares worth ₹25,000, and 35 grams of gold valued at ₹1,15,000.

Immovable Assets: The current market value of his self-acquired and inherited immovable properties stands at ₹2.42 crore ( ₹2,42,63,816). These include inherited and self-purchased property in Paravur.

Spouse and dependent holdings

Here's a look at the assets held by his spouse, Lakshmi Priya and their dependent daughter, according to the affidavit:

Spouse’s Movable Assets: His wife holds movable assets worth ₹68.45 lakh ( ₹68,45,474). A significant portion of this is invested in precious metals, comprising 1,128 grams of gold valued at ₹46,53,000.

Spouse’s Immovable Assets: Her immovable properties hold an estimated current market value of ₹1.85 crore ( ₹1,85,27,520).

Dependent’s Assets: His daughter possesses movable assets worth ₹9,61,474, primarily consisting of a Volkswagen Taigun purchased in 2022.

Liabilities and Annual Income

On the liabilities front, Satheesan has declared total outstanding dues of ₹24 lakh ( ₹24,00,635). This figure includes a car loan with an outstanding balance of roughly ₹3.29 lakh and other loans from financial institutions.

His spouse carries separate liabilities amounting to ₹17.45 lakh ( ₹17,45,000). Neither his spouse nor his dependent daughter has any declared dues to public financial institutions or the government.

For the financial year 2024-25, Satheesan reported a total income of ₹2,84,330, primarily drawn from his salary and allowances as the Leader of the Opposition.

His spouse declared a 'Nil' income for the same financial period.

VD Satheesan oath ceremony

Congress-led UDF won 102 seats in the 9 April Assembly elections to the 140-member House. The LDF secured 35, and the BJP won 3.

At the oath-taking ceremony, held at Central Stadium in Thiruvananthapuram, top Congress leaders and leaders of other political parties are present. These include:

• Congress President Mallikarjuna Kharge
• Rahul Gandhi
• Priyanka Gandhi Vadra
• Karnataka Chief Minister Siddaramaiah
• Telangana CM Revanth Reddy
• Himachal Pradesh CM Sukhvinder Singh Sukhu
• Karnataka Deputy CM D K Shivakumar
• CPI (M) veteran and former Chief Minister Pinarayi Vijayan
• BJP state president Rajeev Chandrasekhar
• CPI state secretary Binoy Viswam
• IUML state president Sayyid Sadiq Ali Shihab Thangal

The MLAs are scheduled to take the oath on 21 May, followed by the election of the Assembly Speaker on 22 May. The Governor's policy address is scheduled for 29 May, and the state budget is likely to be presented by 5 June.

(With agency inputs)