BMC elections 2026 is the most important election in Mumbai politics. The results of this election are going to be known on Friday (January 16, 2026). Let us tell you that the budget of Brihanmumbai Municipal Corporation is thousands of crores of rupees, from which major decisions related to the development of Mumbai city are taken. The property of the candidates has emerged as a big issue in the BMC elections 2026. Many candidates have declared assets worth crores of rupees in the affidavits given to the Election Commission. This has intensified the debate on the relationship between money power and politics. The most popular name in this is that of Makarand Narvekar, who is the leader of Bharatiya Janata Party. He is contesting from ward number 226 and this is his third consecutive BMC election. He is the younger brother of Maharashtra Assembly Speaker Rahul Narvekar. His age is 47 years.
Makrand Narvekar has declared total assets worth Rs 124.4 crore in his election affidavit. Based on this figure, he is being counted among the richest candidates of BMC elections 2026. Political and public discussion regarding his property is continuously increasing. The surprising thing is that in 2012, the assets of Makrand Narvekar were Rs 3.67 crore. In the year 2017 it was 6.32 crores. The same figure will become 124 crores in the year 2026. In this way, his wealth has increased by 1900 percent in just 14 years.
Makarand Narvekar’s movable and immovable property
According to the details declared by Makrand Narvekar, his movable assets are worth Rs 32.14 crore, while the value of immovable property is said to be Rs 92.32 crore. He also has liabilities of Rs 16.68 crore registered against him. His total income in the financial year 2025–26 is said to be Rs 2.77 crore. Major part of Makrand Narvekar’s real estate is located in Alibaug area of ​​Raigarh district. He has purchased 27 agricultural land plots in Alibaug between October 2022 and November 2025. Alibaug has come to be considered a high-value real estate area in recent years, leading to a rise in land prices.
Apart from Alibaug, he had bought a flat in Colaba area of ​​South Mumbai in October 2021. The price of this flat is said to be Rs 7.99 crore. Colaba is one of the most expensive and prestigious areas of Mumbai. The total wealth of the Narvekar family has also been in discussion. There has been a huge increase in the assets declared by other family members after 2017. This increase has become a cause of questions and debate in political circles.
Also read: BMC Election Results 2026: BMC election results today, 35 percent candidates have assets worth crores, see the complete list of wealthy people.
