NBCC inks MOU with NAWADCO

 

NEW DELHI .  With an objective to develop Waqf properties, National Buildings Construction Corporation  has signed anMoU withNational Waqf Development Corporation (NAWADCO) yesterday . The MoU was signed between Dr. Anoop Kumar Mittal, CMD, NBCC and ShriRakesh Mohan, MD, NAWADCO, in the presence of Shri M. Venkaiah Naidu, Hon’ble Minister for Urban Development, GoI;  Dr. NajmaHeptulla, Hon’ble Minister for Minority Affairs. GoI, and other senior officials of NBCC and Ministries.

NAWADCO has identified several waqf properties including one in Delhi, two in Rajasthan, six in Madhya Pradesh and seven in Karnataka which shall be undertaken by NBCC for development as institutional and commercial projects. To begin with, properties lying vacant will be taken up for easy and early development. The revenue, which would be garnered through the initiative, will be used to the socio-economic and educational empowerment of the community.

India has the largest number of Waqf properties in the world. There are more than 4.9 lakh registered Auqaf (waqf properties) and the current annual income from these properties is about Rs.163 crores. The total area under waqf properties all over India is estimated at about 6 lakh acres, the market value of which is about Rs.1.20 lakh crores.

Many of these properties are on prime land and they have the potential of generating considerable returns, which in turn may be used for socio-economic development of deprived sections of Muslim community.