SWSVY

Under the scheme, interest free loan to Waqf Boards (WBs)/waqf institutions is granted to various Waqf Boards and Waqf Institutions in the country for construction of economically viable buildings on the Waqf land, such as commercial complex, marriage halls, hospitals, cold storage etc..

The scheme “Shahari Waqf Sampatti Vikas Yojana,” implemented by the Central Waqf Council since 1974–75 with financial support from the Ministry of Minority Affairs, Government of India, aims to strengthen the financial position of Waqf institutions and Boards by augmenting their resources. It focuses on protecting vacant Waqf properties from encroachment and developing economically viable projects on such lands to generate sustainable income and expand welfare activities.

• All Waqf Boards (WBs) and registered Waqf institutions, which are in full possession of property to be developed and in the opinion of Central Waqf Council (CWC) are not insolvent or otherwise suitable, shall be eligible for interest free loan.
• Loans under this scheme will be provided for the development of Waqf properties located in urban areas.
• Interest-free loan assistance or grants-in-aid, in the public interest, will be provided to WBs and Waqf institutions for specific development projects or non-commercial purposes approved by the CWC.

Note 1: Under this scheme, loan assistance will be provided for projects involving the construction or reconstruction of economically viable buildings or projects on Waqf lands. The augmented income generated from these developments will be utilized by WBs and Waqf institutions to strengthen their financial position and expand the scope of their welfare and charitable activities. The whole purpose is intended to contribute to overall progress and development of the society.

Note 2: Urban Area means a property situated in any area, which is comprised within the jurisdiction of a Municipality (whether known as Municipality, Municipal Corporation, Notified Area Committee, Town Area Committee, Town Committee or by any other name) Cantonment Board and include any area within such distance not being more than 8 kilometers from the local limits of any Municipality or Cantonment Board as the Central/State Government may, having regard to the extent or scope for urbanization of that area and other relevant consideration, specify in this behalf by notification in the Official Gazette.

• Interest-Free Loan Support: Provides interest-free loans up to ₹2,00,00,000/- or 75% of the project cost (excluding land cost), whichever is lower. - Loan Assistance for Infrastructure Development: Provides financial support through State Waqf Boards for constructing commercially viable projects such as commercial complexes, marriage halls, hospitals, and cold storage units on Waqf land. - Grant-in-Aid for Social Projects: Offers grant-in-aid, with prior approval of the Ministry, for undertaking social development projects on Waqf properties.