Wealth of BMC Election Candidates: Spotlight on Makrand Narwekar

Introduction to the BMC Elections

In the upcoming Brihanmumbai Municipal Corporation (BMC) elections, notable figures are emerging as candidates, with a significant number declaring substantial assets. Among them, Makrand Narwekar, brother of Maharashtra’s Assembly Speaker Rahul Narwekar, stands out as one of the wealthiest candidates.

Makrand Narwekar’s Affluent Background

Makrand Narwekar has declared assets worth Rs 124 crore in his election affidavit. At 47 years old, he is not new to the political arena, having served as a two-time corporator. His background as an advocate adds to his professional credentials.

Strategic Investments in Alibaug

Between October 2022 and November 2025, Narwekar made a strategic investment by purchasing 27 land parcels in Alibaug. This move has proven lucrative, especially with ongoing infrastructure projects like the Atal Setu and the RoRo ferry to Alibaug, significantly increasing the value of these holdings.

A Journey Through His Assets

Narwekar’s financial journey has been noteworthy. His assets were valued at Rs 6.32 crore in 2017 and Rs 3.67 crore in 2012, showcasing a remarkable growth trajectory. This shift reflects not only personal success but also the evolving economic landscape in the region.

BMC Elections: A Pool of Wealthy Candidates

Approximate 35% of candidates contesting in the BMC elections are classified as crorepatis. This trend mirrors a growing trend in political finance, where significant wealth is becoming increasingly common among candidates.

Harshita Narwekar: A Rise in Family Wealth

Additionally, Harshita Narwekar, Makrand’s sister-in-law, is contesting from ward 225 with declared assets of Rs 63.62 crore—a notable increase from her previous declaration of Rs 10.74 crore in 2017.

Conclusion: The Economic Landscape of BMC Elections

As the BMC elections approach, the wealth declarations of candidates like Makrand Narwekar highlight the intricate relationship between politics and economic growth. This election cycle promises to be a reflection of the changing dynamics within Mumbai and its governance.