The Waqf Land Reality: Analysing the Legal, Social & Economic Aspects of the Waqf Amendment Bill 2024

Waqf properties are the third-largest landholdings in India, following only the Railways and the Defence sector. Despite their vast expanse, these lands are often caught in a web of legal and administrative challenges, since Waqf Boards hold unchecked authority to make final decisions on disputes. The proposed Waqf Amendment Bill brings new changes to the table, and this paper aims to analyse whether the changes are beneficial or not. By utilizing and applying economic theories of transaction costs and economic efficiency this paper seeks to explore these changes and highlight the urgent need for reform. The study is not only limited to the Waqf Amendment Bill but also the interaction and interplay of other statutes due to the proposed changes, namely the Real Estate Regulatory Authority Act and the Transfer of Property Act. The paper also explores the social changes which could be the possible results of the amendments. Today, more than 73000 waqf properties are currently in dispute, which emphasizes the need for change, hence this paper focuses on providing actionable recommendations and conclude with suggestions which will benefit all stakeholders.