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In the Electoral College for Presidential Election in India, the voting system is weighted, with the value of the vote of an elected member of the Parliament being different from that of an elected Member of the Legislative Assembly. Hence, statement 1 is incorrect because the value of the votes is not equal.
Statement 2 is correct, but it does not mean the values of their votes are the same as those of the Members of the Legislative Assembly; instead, it simply affirms that the elected Members of Parliament have voting rights in the presidential elections.
Statement 3 is incorrect; as of 2020, the Electoral College for Presidential Election had a total of 4896 electors, which is less than 5000 - combined members of Lok Sabha, Rajya Sabha and all State Legislative Assemblies.
Therefore, from the available options, only the claim in option 2 "The value of the vote of an elected Member of parliament equals" is correct.