Amarinder Singh is pitted against former army chief General J J Singh from Patiala (urban) seat. (PTI)

A residential flat in Dubai, his ancestral Moti Bagh palace property in Patiala and gold jewellery and diamonds, were among assets worth Rs 48.29 crores declared today by Punjab Congress chief Amarinder Singh. However, the value of assets declared by the 74-year-old former Punjab chief minister dropped by over 40 per cent as compared to that declared during 2014 Lok Sabha polls.

Amarinder is pitted against former army chief General J J Singh from Patiala (urban) seat. He will also contest against Chief Minister Parkash Singh Badal from Lambi seat.

He had declared total assets worth Rs 86.33 crores including that of his wife former union minister Preneet Kaur when he had successfully contested from Amritsar Lok Sabha seat during 2014 Lok Sabha polls.

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In his affidavit filed before the Returning Officer in Patiala today, Amarinder declared his movable and immovable assets including assets of his wife worth Rs 6.09 crore and Rs 42.20 crore respectively.

Among immovable assets, Amarinder declared the market value of palatial new Moti Bagh palace spread over total 43.41 lakh square feet in Patiala at Rs 35 crore.

The former Lok Sabha MP also declared a residential flat in Dubai ‘Goldcreet Views Jit’ UAE at Rs 96 lakh which was bought in year 2008. During last declaration also in 2014, the market value of this flat was declared at Rs 96 lakh.

Among other immovable assets, Amarinder declared farm house at Shimla worth Rs 2.06 crore while he declared agricultural land at Haridwar, Kharar (Punjab), Himachal Pradesh.

Among movable assets, Amarinder as ‘Karta’ of Hindu Undivided Family (HUF) has declared Toyota Fortuner vehicle worth Rs 12.17 lakh while his wife is riding Toyota Innova worth Rs 4.05 lakh.

Amarinder owned gold jewellery studded with stones and diamonds (1,946 grams) worth Rs 32.86 lakh while his wife has gold jewellery and diamond (701 grams) worth Rs 35.70 lakh, as per the affidavit.

Amarinder has cash in hand of Rs 90,000 while his bank deposits were Rs 32.85 lakh while his spouse’s bank deposits were worth Rs 1.58 crore.

He has also shown personal loan as a Karta worth Rs 1.43 crore while his investments in shares and bonds were at Rs 47.59 lakh.

The scion of erstwhile royal state of Patiala has shown his liabilities at Rs 7.54 lakh and as Karta of HUF at Rs 34.53 lakh.

He declared himself as politician in the affidavit with four cases pending in different courts. He declared his income to the tune of Rs 14.94 lakh for 2015-16.