Mumbai: In a first, an alumnus of IIT-Bombay’s 1974 batch made a donation in the form of a piece of land in Karjat to the premier institute. The mechanical engineering graduate from the 1974 batch, Vijay Rajadhyaksha, made the donation as part of the Golden Jubilee Legacy Fund. The proceeds from the ‘gift’ are likely to support the batch’s legacy project, leaving a lasting impact on the institute. In the recent past, flats in Mumbai were either donated or bequeathed to the institute in two separate instances.
The director of the institute, Shireesh Kedare, said that the Karjat land has already been transferred in the institute’s name, and the institute is yet to do the valuation. “There are people who are keen on donating but are not sure about the diverse ways through which they can support their institute. In the past, flats were donated to the institute. It is the way forward for philanthropy in the country, and this contribution from our 1974 alumnus will inspire others too. We have not yet decided whether to use the land for some purpose or to monetise it. We are yet to discuss with the 1974 batch whether it should be linked to their existing projects or utilised for something else. Many, though, are in favour of selling the land, and proceeds from the land donation may go towards the batch’s Golden Jubilee Legacy Fund,” said Kedare, adding that it is too early to comment.
Rajadhyaksha is the president at a consulting services. He and his wife, Meera Rajadhyaksha, together donated the Karjat land to the institute. A batch’s legacy project is a tradition of giving, wherein a batch comes together and adopts causes that are close to their hearts to leave behind a legacy. These projects are significant for the development of the institute. One of the projects taken up by the 1974 batch is called HEARTS74, which will focus on the design and building of affordable homes to address the daily challenge for the rural and urban underserved communities in all of India.
In 2022, the wife and daughters of one of the founding faculty members at IIT-Bombay, late Prof RS Ayyar, donated two of their Mumbai flats—one each in Powai and Ghatkopar—for the development of the institute. TOI reported that the amount would be used to institute a chair professor in the civil engineering department and to upgrade their conference rooms. In 2021, the widow of late Prof Subir Kar bequeathed her flat in Powai to the institute.
The director of the institute, Shireesh Kedare, said that the Karjat land has already been transferred in the institute’s name, and the institute is yet to do the valuation. “There are people who are keen on donating but are not sure about the diverse ways through which they can support their institute. In the past, flats were donated to the institute. It is the way forward for philanthropy in the country, and this contribution from our 1974 alumnus will inspire others too. We have not yet decided whether to use the land for some purpose or to monetise it. We are yet to discuss with the 1974 batch whether it should be linked to their existing projects or utilised for something else. Many, though, are in favour of selling the land, and proceeds from the land donation may go towards the batch’s Golden Jubilee Legacy Fund,” said Kedare, adding that it is too early to comment.
Rajadhyaksha is the president at a consulting services. He and his wife, Meera Rajadhyaksha, together donated the Karjat land to the institute. A batch’s legacy project is a tradition of giving, wherein a batch comes together and adopts causes that are close to their hearts to leave behind a legacy. These projects are significant for the development of the institute. One of the projects taken up by the 1974 batch is called HEARTS74, which will focus on the design and building of affordable homes to address the daily challenge for the rural and urban underserved communities in all of India.
In 2022, the wife and daughters of one of the founding faculty members at IIT-Bombay, late Prof RS Ayyar, donated two of their Mumbai flats—one each in Powai and Ghatkopar—for the development of the institute. TOI reported that the amount would be used to institute a chair professor in the civil engineering department and to upgrade their conference rooms. In 2021, the widow of late Prof Subir Kar bequeathed her flat in Powai to the institute.
