Section 8 in The Waqf Properties Lease Rules, 2014
8. Payment of security deposit.
(1)Upon the execution of lease, the lessee shall make payment of a security deposit of the amount based on the period of lease, as under, namely :-(i)three months lease rent on lease period of upto one year;(ii)eleven months lease rent on lease period of more than one year and up-to five years ;(iii)eighteen months lease rent on lease period of more than five years and up to ten years; and(iv)twenty-four months lease rent on lease period of more than ten years and up to thirty years.(2)The security deposit received under sub-rule (1) shall be kept in a nationalised Bank and the Board may utilise the amount for development of waqf properties, with the sanction of not less than two-thirds of the members of the Board.
