Waqf Board to develop its own commercial complexes

The State Waqf Board has formally proposed to develop its own commercial complexes in four properties.“The complexes will be constructed in Begumpet, Khairatabad, Mehdipatnam and Doodhbowl,“ said Mohammed Saleem, chairman of Waqf Board.

At Begumpet, a shopping complex will be constructed according to the officials of Waqf board.Earlier, it was reported that the board has plans to lease out 11 properties but now, it has decided to build four out of eleven. The remaining will be leased out.The leasing of properties will be carried out in phases.

A decision has been taken at a meeting held on Saturday. In the



meeting, finances of the properties and rents has also been discussed. The prices to rent Waqf properties might be increased according to the chairman of Waqf Board.“We are planning to increase the rents of Waqf board properties, there are some properties where the vendors pay the board very less.If the price of the property is `10,000 in the market the tenants should at least pay `6,000,“ the board chairman said.

The Waqf board will also call tenders to lease the properties near Haj House.The board has also signed an agreement with a company for a construction of a complex near the Haj House.