The properties were found to be highly disproportionate to his known sources of income, the police said.
A 25-member Lokayukta team conducted raids at three places in Indore and Dhar following a complaint against Jamod (54), Superintendent of Police Arun Mishra told PTI.
Jamod's legitimate income including that from agriculture in his 32-year-long career should not exceed Rs 75 lakh, police said.
The properties that came to light included a three-story house, a developed plot, another two- story house and a flat.
These properties are situated in Dhar, Alirajpur and Khargone districts. Police also recovered Rs 32 lakh in cash, domestic goods worth Rs 23 lakh, 400 grams of gold jewelery and coins, five kg silverware and ornaments.
His bank account has Rs 15 lakh. A case under Prevention of Corruption Act was registered against Jamod and further investigation is on, Mishra said.