Chandigarh, Jan 31 (IANS): Two-time Punjab Chief Minister Capt Amarinder Singh, who belongs to the erstwhile royal family owns no personal vehicle, but owed a loan of Rs 2 crore for a 'royal' farmhouse in the lower Shivalik hills near Chandigarh.

The assets worth Rs 3.55 crore were declared on Monday by Punjab Lok Congress (PLC) chief Capt Amarinder Singh.

However, the value of assets declared by the 80-year-old former Congress leader dropped massively as compared to that declared during 2017 assembly polls when he was with the Congress.

Amarinder is the candidate from Patiala (urban) seat. He will contest against Congress candidate and former Mayor Vishnu Sharma.

He had declared total assets worth Rs 86.33 crore 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.

In his affidavit filed before the Returning Officer in Patiala, Amarinder Singh declared his gross movable assets and his wife's worth Rs 3.55 crore and Rs 4.17 crore, respectively.

The scion of erstwhile royal state of Patiala, who owns the palatial new Moti Bagh palace in Patiala, has no criminal case. However, he is facing a complaint the income tax "evasion".