India has the largest number of Waqf properties in the world, 4.9 Lakhs registered Auqaf (properties), approx.6 Lac acres of Land. Most of it are located in prime urban areas which can be developed for residential, commercial & institutional purposes. Approximate book value of the land is about Rs.1.2 Lac Crores which fetch present annual income of about Rs.163 Crore which can be augmented up to Rs.12,000 Crores per annum (considering only 10% p.a. return), if these properties are managed and developed professionally.
Since NAWADCO is established by the Government of India under the aegis of Ministry of Minority Affairs to support State Waqf Boards (‘SWB’)/ Waqf Institutions (Mutawallis) in India, SWBs/Mutawallis/Waqf institutions should come forward to show their willingness for offering their Waqf properties for development through NAWADCO by providing Expression of Interest (EoI)