Waqf Board for valuation of commercial properties in J&K
The Jammu and Kashmir Waqf Board on Friday called for the valuation of its commercial properties in the Union Territory.
Waqf Board has claimed that so far no comprehensive assessment has been carried till date to work out the value of properties. The valuation of commercial properties has been ordered on the directions of Chairperson J&K Waqf Board
“The Jammu and Kashmir Waqf Board has a large number of commercial assets spread across the UT of J&K however, no comprehensive assessment exercise has been carried out to date to work out the value of properties”, reads the order issued by Ishtiyaq Mohi-ud-din Executive Magistrate, Tehsildar Jammu and Kashmir Waqf Board.
Consequently, random assessment values have been used to ensure the properties that eventually create difficulties in the settlement of claims, in case of any untoward incident. Accordingly, the Chairperson J&K Waqf Board has issued instructions for the proper valuation of all Commercial assets to overcome this difficulty. The valuation of properties shall also result in the creation of a permanent database for smooth rent assessment of structures in future, it reads.
“Therefore, the engineering wing is accordingly instructed to immediately carry out a valuation of all commercial assets of Waqf as per the latest PWD schedule in vogue, after proper categorization of buildings. All the administrators/in charge of revenue and estates are directed to facilitate the Engineering Wing & provide all necessary support and manpower for the said purpose. The process shall be completed strictly within a period of one month”, the order reads.
The order comes days after the Jammu and Kashmir Waqf Board initiated a process to take over administrative control of notified properties that are being managed privately by local committees.
