Three wakf properties situated in prime localities in the city are all set to be developed for commercial use by the National Wakf Development Corporation (NAWADCO) with the hope they would yield a total annual income of over Rs. 400 crore to the institutions.
Recently, NAWADCO signed a memorandum of understanding (MoU) with the National Building Construction Corporation to develop four wakf properties in the country, of which three are in Bengaluru.
Although the three properties — housing Gulistan Shadi Mahal, Masjid-e-Mavalli and Hazrat Attaullah Shah Dargah — are located in commercial areas, the institutions have not used the properties commercially.
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Karnataka State Board of Wakfs chairman and NAWADCO director Mohammed Yousuff said, “While the annual income from Gulistan Shadi Mahal is Rs. 22 lakh, there is zero income from the other two properties. The revenue generation will only help the board extend welfare activities for the community.”
Of the 32,000 wakf properties in the State, over 320 have been identified for development through NAWADCO. “Karnataka is the first State where wakf properties are being developed commercially by the corporation,” he said.
Wakf board chief executive officer S.A. Jeelani emphasised the need for proper utilisation of wakf properties to earn better revenue.
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The officials said that in the next 30 years, the three institutions had a potential of earning revenue of over Rs. 1,000 crore, after clearing the NAWADCO loan.
Task force
The proposed task force to protect wakf properties in the State is likely to help in recovering large tracts of encroached wakf land, Mr. Yousuff said.
Of the 1.22 lakh acres of land on which 32,000 wakf properties are located, only 55,000 acres of land is in possession of the board currently.
“Although we have written to the deputy commissioners of districts to recover encroached properties in their jurisdiction, they are not responding,” he alleged.