The committee would submit its report in four months time, Gowda said in a statement.
The government had earlier constituted a panel in November last year following complaints and media reports on the role of politicians and Wakf Board officials in the illegal sale of land to individuals.
The panel had submitted a 7,000-page report to Gowda on March 27 alleging a scam of over Rs two lakh crore involving the Wakf Board land.
It reportedly said that Wakf property had been misused since 1954 due to the "nexus" between Wakf officials and real estate mafia.
Panel chief and Karnataka Minorities Commission Chairman Anwar Manipaddy had recommended to the government to set up a high-power committee to check corrupt activities in the Wakf Board and appoint a task force to retrieve Wakf properties sold illegally to "some powerful and influential people".
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