Makrand Narwekar, the younger brother of Maharashtra Assembly Speaker Rahul Narwekar, has emerged as one of the wealthiest candidates in the upcoming Brihanmumbai Municipal Corporation (BMC) elections, declaring assets worth ₹124.4 crore. Narwekar, aged 47, is seeking his third term as a corporator from ward number 226 on a BJP ticket.
According to the 27-page affidavit filed with the Election Commission, Makrand Narwekar's assets, which include those of his wife, have seen an increase of 1,868% compared to nine years ago. Of his total assets, ₹32.14 crore are movable and ₹92.32 crore are immovable. The affidavit also reveals liabilities of ₹16.68 crore in the form of loans, borrowings, and unsecured loans from various individuals, banks, and financial institutions. Narwekar has declared his profession as an advocate.
In response to inquiries regarding the significant increase in his assets, Narwekar stated that he would "reconfirm and revert shortly".
Narwekar's declared wealth surpasses that of several other prominent candidates in the BMC elections. Samadhan Sarvankar, son of former Shiv Sena MLA Sada Sarvankar, has declared assets of ₹46.59 crore, while Shiv Sena (UBT) candidate and former mayor Shraddha Jadhav has declared assets of ₹46.34 crore. Another candidate with significant assets is Rahul Narwekar's sister-in-law, Harshita Narwekar, contesting from ward number 225, who has declared assets of ₹63.62 crore. Kishori Pednekar, a Shiv Sena (UBT) candidate and former mayor contesting from Lower Parel (Ward 199), has declared total assets of Rs 5.26 crore, a 226% jump from Rs 1.61 crore in 2017.
Between October 2022 and November 2025, Narwekar purchased 27 agricultural land parcels in Alibaug, a rapidly developing area in the coastal Raigad district.
The declaration of assets by candidates has become a focal point in the lead-up to the BMC elections, with parties highlighting discrepancies and raising questions about the sources of wealth. The significant increase in Makrand Narwekar's assets, in particular, is likely to draw scrutiny from opposition parties in the coming days.
The BMC elections are generating considerable political activity across Maharashtra, with parties like the BJP, Shiv Sena, and Congress actively campaigning and strategizing. Political rallies are being organized, and candidates are engaging with voters to address local issues and concerns. Raj Thackeray announced he would join Uddhav Thackeray for a joint election rally in Thane on January 12. The election is expected to be closely contested, with various parties vying for control of the গুরুত্বপূর্ণ municipal corporation.
