According to Centre, Waqf Boards currently control 8.7 lakh properties spanning 9.4 lakh acres across India and are the largest urban landowners. The properties, estimated to be worth ₹1.2 lakh crore, comprise the largest waqf holding in the world, government said. Waqf Boards are empowered to administer Waqf properties, sanction their transfer through sale, gift, etc and recover lost properties.