As Mumbai heads into the high-stakes 2026 Brihanmumbai Municipal Corporation (BMC) elections, one name from South Mumbai is drawing particular attention, not just for politics, but for wealth and real estate investments. Makrand Narwekar of the Bharatiya Janata Party (BJP) has emerged as the richest candidate contesting the civic polls from the area, backed by an expansive property portfolio and a steady presence in Maharashtra’s real estate landscape.
A Lawyer with Strong Political Roots
By profession, Makrand Narwekar is a lawyer. Politically, he comes from a well-known family. He is the younger brother of Maharashtra Assembly Speaker Rahul Narwekar, a prominent BJP leader who has declared assets worth ₹124.4 crore in his election affidavit.
This family connection, coupled with Makrand Narwekar’s own financial disclosures, places him firmly in the spotlight as voters examine the backgrounds of candidates vying for control of India’s richest civic body.
Heavy Investments in Alibaug’s Agricultural Land
According to the affidavit filed for the 2026 BMC elections, Makrand Narwekar is an active real estate investor with a significant focus on Alibaug, a popular second-home destination near Mumbai. The documents reveal that he owns as many as 27 agricultural land parcels in the coastal town.
These land acquisitions were made over a period of more than three years, between June 2022 and November 2025, indicating a consistent investment strategy rather than one-time purchases.
Prime South Mumbai Apartment Adds to Asset Base
In addition to his agricultural holdings, Narwekar also owns a residential apartment in South Mumbai’s Colaba area. The flat, measuring over 1,400 square feet, was purchased in October 2021, according to the affidavit.
