In a striking revelation of wealth among civic poll candidates, Bharatiya Janata Party's (BJP) Makrand Narwekar has emerged as one of the richest contenders in the upcoming Brihanmumbai Municipal Corporation (BMC) elections. The brother of Maharashtra Legislative Assembly Speaker Rahul Narwekar has declared assets worth a staggering Rs 124 crore in his election affidavit.
A Meteoric Rise in Declared Wealth
The 47-year-old, two-time corporator, who lists his profession as an advocate, has seen his declared wealth multiply exponentially over the past decade. His affidavit shows a dramatic climb from Rs 3.67 crore in 2012 to Rs 6.32 crore in 2017, before skyrocketing to the current figure of Rs 124 crore. When questioned about this substantial increase, Narwekar pointed to strategic land investments and national development, calling it a "live example of India shining."
Strategic Land Acquisitions in Alibaug
A significant portion of this wealth is attributed to real estate. According to the affidavit, Narwekar purchased 27 individual land parcels in Alibaug between October 2022 and November 2025. He directly linked the soaring value of these holdings to major infrastructure projects in the region. "With infrastructure projects such as the Atal Setu, the RoRo ferry to Alibaug, the value of these holdings has suddenly gone up," Narwekar explained to The Times of India, asserting that all details are transparently shown in his sworn document.
A Family of High-Value Candidates
The trend of substantial wealth is not limited to Makrand Narwekar alone. His sister-in-law, Harshita Narwekar, who is contesting from ward 225, has also declared considerable assets. Her affidavit shows wealth valued at Rs 63.62 crore, a massive jump from the Rs 10.74 crore she declared in the 2017 BMC elections. This highlights a pattern of affluent candidates within this political circle.
The data underscores a broader trend in the Mumbai civic polls. Reports indicate that approximately 35% of all candidates contesting the BMC elections are crorepatis, reflecting the significant personal wealth often associated with political candidacy in India's financial capital. The affidavits of Makrand and Harshita Narwekar place them firmly at the top tier of this wealthy candidate pool, drawing public and media scrutiny to the intersection of personal finance, real estate investment, and political representation in urban governance.
