The Prime Minister Dr Manmohan Singh will inaugurate National Waqf Development Corporation Limited (NAWADCO) while the Chairperson, UPA and National Advisory Council Sonia Gandhi will be the Chief Guest at the function.


This will be fulfillment of one of many commitments made by the ruling Congress-led UPA government's commitment to the Muslims just before the ensuing polls this year. The event comes such few days before the Eletion Commission is to declare the election process and enforcement of the moral code of conduct.

This Corporation is designed to be an important institution for the development of Waqf properties for the community welfare particularly for Muslims in India. The establishment of NAWADCO is a follow up of Sachchar Committee recommendation. India has the largest number of Waqf properties in the world. There are more than 490,000 registered Auqaf (waqf properties) and the current annual income from these properties is about Rs.163 crores. Sachar Committee has estimated that such properties, if properly developed, with a minimum return of 10%, would be capable of generating an income of Rs.12000 crore per annum.

NAWADCO will facilitate and mobilize financial resources for the development of Waqf properties for community development purposes in a joint venture with the State / Union Territory Waqf Boards and the Mutawallis. The Waqf Boards and the Muthawallis were not having the financial resources to develop the properties leading to encroachments.

Government of India has recently enacted the Waqf (Amendment) Act, 2013.This will make administration of waqf properties transparent and will provide an enabling environment for development and utilization of waqf lands for welfare of minorities.