With elections fast approaching, the Centre has proposed  to set up a corporation to develop Wakf Board properties on fast track.

The proposal, initiated by the Ministry of Minority Affairs, calls for the creation of a National Wakf Development Corporation with an authorised capital of Rs 500 crore and a paid up capital of Rs 100 crore.

“We will soon move the proposal for consideration of the Union Cabinet,” Minority Affairs Minister K Rahman Khan told Deccan Herald.

He said the corporation would develop Wakf properties lying unutilised and were under threat of encroachment. The properties, spread all over the country, would be used to build hospitals, hostels, educational institutions, business establishments and even shopping complexes.

In Delhi, the properties identified for development are located in prime locations such as Hailey Road, Daryaganj and Civil Lines.

Under the scheme, people from minority communities will be provided assistance for treatment of life threatening ailments such as heart diseases, cancer and kidney disorders.