The decision to convene a meeting of the Parliamentary Party was taken by the BJP Parliamentary Board, the highest decision-making body of the party chaired by its chief Rajnath Singh and attended by Modi, L K Advani, Murli Manohar Joshi, Sushma Swaraj, Arun Jaitley and other top leaders.
The Parliamentary Board also passed a unanimous resolution that hailed the people's verdict in favour of the party and promised to put the country's economy on a growth track while providing a government in accordance with highest standards of probity.
It also appreciated the "inspirational" and "visionary" leadership provided by Narendra Modi while leading the party's campaign aggressively and the efforts put in by its workers and leaders.
Modi, who arrived in the capital a day after Lok Sabha poll results, was accorded a rousing welcome by thousands of enthusiastic BJP workers and supporters to whom he gave credit for the historic achievement and thanked them for rekindling "new hope" through their hard work.
In a brief address to the media, Rajnath Singh said the NDA allies will also be invited for a meeting on the same day where the leader of the coalition will also be chosen.
He dismissed media speculation about Modi's swearing-in saying no date has been fixed and it will be decided after the Parliamentary Party meeting.
Rajnath said the BJP wants to build a country which is "strong, self-respecting and self-reliant".
"The BJP Parliamentary Board records its deep sense of appreciation to the tireless effort and leadership provided by Narendra Modi in this campaign. It was this inspirational and visionary leadership which caught the imagination of the people of India and they reposed faith in it," the resolution said.
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