BMC Polls: BJP’s Parag Shah Defeats Congress Rival Pravin Chheda

Shah has declared assets worth Rs 690 crore.

BJP candidate Parag Shah won from Ghatkopar. (Photo: Twitter) 

The fight between the BJP’s Parag Shah and the Congress’ Pravin Chheda in the Gujarati heartland of Ghatkopar in Mumbai has come to an end. Shah, the richest candidate in these elections with assets worth Rs 690 crore, is a first-timer enjoying the taste of victory. He is a well-known construction magnet and president of the Mumbai Jain Mahasangh.

The BJP looks set to be the second-largest party in the BMC elections. Congress, however, stands decimated across Maharashtra.

It was one of the closest battles in this elections as both are heavyweights from the same community, appealing to the same Gujarati voter base. The 16,000-odd Gujarati voters in this ward have voted for the BJP for the last 30 years, but with Chheda, the leader of opposition in the BMC and a sitting corporator from Ghatkopar as the other contestant, the Gujarati vote is likely to have been split between the two. The swing votes lay with the 20,000 South Indians and Marathis of the area.

Shah campaigned extensively on the ground for these elections, developing good relations with the Jain community in this belt which may have helped his victory. Additionally, his name sits in the good books of Prakash Mehta, local MLA and State Housing Minister. Ironically, Chheda was a BJP leader earlier, but defected when tensions cropped up between him and Mehta.

How Rich is Parag Shah and his Family?

Shah’s Wealth

• Cash: Rs 1 lakh
• Bank deposits: Rs 10 lakh
• Bonds and shares: Rs 346.15 crore
• Other investments: Rs 43.46 crore
• He owns agricultural land and a plot in Valkas and Takwahal in Maharashtra
• He has two offices and three houses in Ghatkopar

Shah’s wife, Mansi’s wealth

• Bank deposits: Rs 3.96 crore
• Shares, bonds and investments: Rs 160.92 crore
• Has two plots in Surendranagar, Gujarat, and one house each in Ghatkopar and Thane.
• The couple owns jewellery valued at Rs 2 crore

Family Wealth

• Moveable assets: Rs 670 crore
• Immovable assets: Rs 19.38 crore
• Total wealth: Rs 690 crore
• Family income in 2015-16: Rs 3.38 crore