In two years, Moti Bagh palace value drops by Rs 36 crore

Aman Sood

Tribune News Service

Patiala, January 17

The value of the royalty has come down, if one goes by the affidavit filed by PPCC chief Capt Amarinder Singh who filed his nomination from Patiala (Urban).

The erstwhile Maharaja of Patiala owns New Moti Bagh Palace, which was priced at Rs71 crore in 2014, has now come down to half the price at Rs35 crore. The palace, which is spread over 4,341,600 sq ft with a built-up area of 1,28,068 sq ft remained at a stagnant value of Rs35 crore before jumping to a whopping Rs71.3 crore, as per the affidavit filed by Amarinder ahead of the Lok Sabha elections in Amritsar in 2014.

Former Patiala MP Preneet Kaur, during the 2004 Lok Sabha elections, had declared the value of the palace at Rs35 crore. In the 2012 assembly elections, the iconic palace was once again valued at Rs35 crore in the asset declaration form submitted by Amarinder.

Among immovable properties, Amarinder also owns a flat in Dubai “Goldcreet Views Jit” in UAE which now is priced at Rs96 lakh. Bought in 2008, the value of this flat was declared at Rs80 lakh during the last polls.

Amarinder owns no car in personal capacity, but a Fortuner as the karta of the Hindu Undivided Family (HUF). He has Rs90,000 cash in hand while his wife Preneet Kaur has Rs95,000 in cash. Capt Amarinder owns Rs32.85 lakh in various bank accounts while his investment in bonds and shares are valued at Rs47.59 lakh.

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