Makrand Narwekar's ₹124.4 Crore Assets
Analysis based on 8 articles · First reported Jan 10, 2026 · Last updated Jan 11, 2026
The event highlights significant wealth accumulation by a political candidate, Makrand Narwekar, which could raise questions about transparency and potential corruption in local governance, impacting investor confidence in the regulatory environment. Allegations against Rahul Narvekar of election interference could further erode trust in the fairness of the electoral process, potentially affecting the stability of local political and business environments.
Makrand Narwekar, brother of Maharashtra Assembly Speaker Rahul Narvekar, is a candidate for the India — Brihanmumbai Municipal Corporation (BMC) election, declaring assets of ₹124.4 crore. This makes him potentially the wealthiest candidate, with his assets growing 1,868% over nine years. He purchased 27 agricultural land parcels in Alibaug between October 2022 and November 2025. Opposition parties have accused Rahul Narvekar of interfering in the BMC nomination process and tampering with CCTV footage, which he denies. Tejal Pawar, Makrand Narwekar's opponent, alleges pressure to withdraw from the race. Other high-net-worth candidates include Samadhan Sarvankar and Shraddha Jadhav.
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