Congress leader V. D. Satheesan is set to take charge as the new Chief Minister of Kerala, marking a major political shift in the state after nearly ten years of Left rule. As the Congress-led United Democratic Front prepares to form the new government, details about Satheesan’s financial disclosures have also drawn public attention. According to the affidavit he submitted to the Election Commission of India, the veteran leader and his family together hold assets worth roughly ₹5.6 crore.
Satheesan’s financial declaration shows a mix of movable and immovable assets, including property, gold, bank deposits and investments. His personal movable assets are valued at about ₹53.82 lakh. These include ₹64,000 in cash, savings and deposits across bank accounts, small investments in cooperative bank shares worth ₹25,000, and around 35 grams of gold valued at approximately ₹1.15 lakh.
A significant portion of his overall wealth comes from real estate holdings. The total market value of Satheesan’s immovable assets is estimated at around ₹2.42 crore. These properties include inherited land as well as self-acquired property in Paravur, a town closely linked to his political and personal roots.
The affidavit also provides details about the assets held by his wife, Lakshmi Priya R. Her movable assets are valued at ₹68.45 lakh. A major share of this amount comes from gold jewellery, with holdings of around 1,128 grams worth nearly ₹46.53 lakh. Apart from gold, her assets include savings and other financial investments. She also owns immovable properties with an estimated market value of about ₹1.85 crore.
The couple’s dependent daughter has movable assets worth ₹9.61 lakh. The most notable asset listed in her name is a Volkswagen Taigun purchased in 2022.
Satheesan’s financial declaration also lists liabilities. He has outstanding dues of around ₹24 lakh, which include a car loan with an unpaid balance of roughly ₹3.29 lakh along with other financial borrowings. His spouse has separate liabilities amounting to about ₹17.45 lakh.
In terms of income, Satheesan reported earnings of ₹2,84,330 for the financial year 2024-25. Most of this income came from his salary and allowances as the Leader of the Opposition in the Kerala Legislative Assembly. His wife declared no income for the same period.
The political context surrounding his rise to the state’s top post is equally significant. The United Democratic Front secured a decisive victory in the recent assembly elections, winning 102 seats in the 140-member House and ending the decade-long rule of the Left Democratic Front led by former Chief Minister Pinarayi Vijayan.
Satheesan will take oath as Chief Minister at a ceremony in Thiruvananthapuram, where several prominent leaders are expected to be present. Among those attending are Congress president Mallikarjun Kharge, senior leader Rahul Gandhi and party general secretary Priyanka Gandhi Vadra.
Also Read
Bandi Sai Bageerath Arrested During Naka Bandi in Cyberabad, Advocate Disputes Police Version
With the new government set to begin its term, Satheesan’s leadership will now face the challenge of steering Kerala through economic, administrative and political priorities while the state watches closely how the new administration shapes the next chapter of its governance.