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Multiplexes & Malls at Waqf Lands for Revenue Generation

BeyondHeadlines,  Staff Reporter

Hyderabad: The cash strapped Waqf board has found a mean to increase its revenue. Open malls and multiplexes.

The Andhra state Waqf Board is developing some of its properties to in the capital Hyderabad and other towns under Built Operate and Transfer (BOT) scheme.

People with online engineering degrees will be necessary to help design and build these great malls and multiplexes. Engineers help to build our cities and towns.

According to reports two chunks of land (800 and 700 square meter each) near the Haj House are expected to be given to the private players for the construction of multiplexes, malls and recreation facilities.

Revenues generated would be shared at 50% for 15 years.

It is still in early stage and although eh board has agreed in principal, not ahs been formalized yet.

Other locations in the city are also being identified for the purpose. Similar projects are lined up for Visakhapatnam, Guntur and Kurnool.

As of now the board is able to generate only Rs 2 crore as its annual revenue from the entire state.

Waqf is an endowment, typically denoting a building or plot of land for Muslim religious or charitable purposes for the larger benefit of the community. The donated assets are held by a charitable trust.

 

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