Speaking at a news conference at the Hazrath Hameed Shah Complex office in Bangalore, Mr.Azad said that the hostel would come up in the premises of the very same complex, the construction of which would be supervised by Ziaullah Sharif of India Builders.
As many as 149 persons stay on rent at the Hameed Shah Complex. The Complex generates an annual income of Rs.1.25 crore through rent and Rs. 22.83 lakh through parking fees. Abouy 30% of this income is utilised for educational projects and scholarships for students, Mr. Azad said.
Last year, an amount of Rs. 30.72 lakh was set aside for scholarships, of which, 75% of the funds have already been distributed. The remainder would also be disbursed among students soon. Besides, Rs. 15 lakh is set aside for medical needs. Rs. 12.20 lakh has already been distributed, he said adding that a total of 2,895 students have been given scholarships this year, Mr. Azad said.
The plan of construction of Hameed Shah Complex's third block is in place. With its completion, an additional income of Rs. 15 lakh is expected to be generated. Attempts are being made to obtain grants from Central Wakf Council, he said.
Comments
Add new comment