Besides Azad, the other contestants are PDP's Mir Mohammad Fayaz and Nazir Ahmad Laway; BJP's Shamsher Singh and Chander Mohan Sharma; and Sajjad Ahmad Kichloo and Nasir Aslam Wani of NC.
Both BJP-PDP and NC-Congress are fighting the elections under seat sharing arrangements.
PDP, with 28 seats, is the single-largest party in the state Assembly, which is currently in suspended animation, while BJP has 25 seats in the 87-member house.
Azad is believed to have met Independent members -- former minister Hakeem Mohammad Yaseen and Engineer Rashid Ahmed in Srinagar on Tuesday but the duo had not opened their cards.
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"The elections to elect four members to the Council of States (Rajya Sabha) by the members of Jammu and Kashmir Legislative Assembly will be held on February 7 at J&K Legislative Assembly Secretariat lobby in Jammu from 9 am to 4 pm," according to the notification issued by Returning Officer M Ramzan.
"The importance of Yaseen and Rashid has increased for the victory of joint candidates of BJP-PDP and Congress-NC," a senior Congress leader said and claimed Azad will win.
Terming the alliance between BJP and PDP as "opportunist", CPI(M) said it has decided to vote against the parties.