MUMBAI: The BJP’s Ghatkopar candidate, Parag Shah , has declared assets worth Rs 690 crore, becoming the richest candidate to contest the BMC election this year, and perhaps in the history of the civic body.Shah (47), believed to be close to state housing minister Prakash Mehta, is a first-timer in politics, but his assets have drawn a lot of attention. The realtor, who owns Man Constructions and Man Developers, has projects in the city, Gujarat and Chennai. He has declared movable assets worth Rs 670 crore in his own and his wife Mansi’s names. He has also declared immovable assets worth Rs 20 crore, including flats in Mumbai and Thane, and agricultural and non-agricultural land in Maharashtra and Gujarat.Movable assets comprise cash in bank accounts, deposits, shares and bonds, vehicles owned and loans, if any. Shah and his wife have shares and bonds worth Rs 507 crore.Shah is pitted against the Congress’s Pravin Chheda, opposition leader in the BMC.Parag Shah He will contest from ward 132, which includes Garodia Nagar, Somaiya College, Rajawadi Hospital and ONGC Colony areas.Shah told TOI that he was not surprised about being the richest candidate, adding that his properties and wealth were the result of 22 years of hard work. “I may be contesting for the first time, but I am not new to politics. I have a very active social presence in Ghatkopar and have a huge base among Gujarati and Jain communities,” Shah, who has two sons who are both not dependent on him, said. “I will work on the lines of the agenda of transparency that has been set by party higher-ups. I want to fight against corruption,” he added.He and his wife own nine properties in Mumbai and Thane, the affidavit filed by him along with his nomination papers revealed. A 5,710 sq ft flat in Thane is worth Rs 8.30 crore. Property experts said Shah has got the rights to redevelop a large Mhada property in Pant Nagar, Ghatkopar. He is also developing a 30 lakh sq ft residential complex in Mira Road and has another 12 lakh sq ft development in Mulund.Rival political groups have alleged that Shah has business ties with the controversial Shahid Balwa, who is facing charges in the 2G spectrum case. Shah admitted that Balwa was his client and a “very good friend”, but added, “I have no connection with the scam. The opposition is spreading rumours.”