Hubli : The asset value of Karnataka Chief Minister Jagadish Shettar has increased four times than that of his wife Shilpa Shettar, but he is literally indebted to her and brother Pradip Shettar, going by the affidavit filed by him along with his nomination papers here.

Shettar, seeking a fifth win from a constituency here in the May five Assembly polls, has a loan of Rs. 18.97 lakh, the affidavit said. He has to pay Rs 7.51 lakh to his family members and Rs 4.5 lakh to brother Pradip Shettar. He has taken a loan of Rs. 6.96 lakh from his wife as well.

The value of assets belonging to Shettar has increased considerably by over four times and that of his wife doubled in the last five years, according to the affidavit.

Shettar’s assets value has increased to Rs 4.44 crore compared to Rs 99.42 lakh in 2008. His wife holds assets worth Rs 43.18 lakh compared to Rs 21.06 lakh in 2008.

He had immovable assets worth Rs.78 lakh in 2008, which has now gone up to Rs.3.64 crore. And his family, which has no vehicles now, has maintained the same quantity of gold of 1,310 gm as it had in 2008.

The Chief Minister holds 20 per cent share in three acres of agricultural land in Chavargudda near Hubli and owns two plots, one in Keshwapur (1,383 sq.Ft) in Hubli and another in RT Nagar in Bangalore measuring 3,991 sq ft.

Shettar owns two houses, measuring 11,780 sq. Ft of area worth Rs one crore in Hubli.

The value of his movable assets has grown from Rs. 20.64 lakh in 2008 to Rs. 80.47 lakh now.

Shettar has filed income tax returns for an income of Rs. 2.64 lakh during 2011-12 and his wife Shilpa has filed IT returns in 2006-07 for an income of Rs. 1.46 lakh.