The Housing and Urban Development Corporation (HUDCO) celebrated its 52nd Formation Day on April 25.

Union Minister for Housing & Urban Affairs Hardeep S. Puri said that HUDCO’s mission to provide technical and financial support for housing and urban infrastructure, especially for the poor and the vulnerable sections of the society, is a noble objective and is an aligned core development requirement of the country. 

What is the purpose of HUDCO?

• The Housing and Urban Development Corporation (HUDCO) is the premier techno-financial institution engaged in financing and promotion of housing and urban infrastructure projects throughout India, with the objective of providing long term finance and undertaking housing and urban infrastructure development programmes. 

• HUDCO was incorporated as a fully owned government of India enterprise on April 25, 1970 under section 4A of the Companies Act. 

• It has been conferred the status of Mini Ratna (Schedule-A). 

• It aims to achieve sustainable growth in these sectors by catering to the needs of every section of the society, with a basket of delivery options in urban and rural housing and infrastructure development. 

• The headquarters is situated in New Delhi. It operates through a strong and multi-disciplinary work force placed over its nationwide network of 21 regional and 11 development offices, with its corporate vision of becoming a leading techno-financial institution promoting sustainable habitat development for transforming the lives of people.

HUDCO’s operational business can be classified into the following two broad areas:

1) Housing finance, wherein the borrowers include state government agencies, and individual borrowers belonging to all sections of society in urban and rural areas.

2) Urban infrastructure finance, which covers social infrastructure and commercial infrastructure, utility infrastructure, including area development, water supply, sewerage, sanitation and drainage, road and transport, power, commercial infrastructure, other emerging sectors, metro and smart cities.

• Since its inception, HUDCO has sanctioned a total of 17,326 housing and urban infrastructure projects with a total loan component of Rs 2,31,465 crore and disbursement of Rs 1,93,574 crore to various housing and urban development agencies, facilitating construction of nearly 19.70 million housing units, 6.70 million sanitation units, and over 6.5 lakh residential plots in different parts of the country, in addition to core urban infrastructure facilities, which were otherwise not catered to by the private sector such as water supply, sanitation and sewerage, solid waste management. 

• The social orientation of HUDCO is reflected in the fact that out of the total housing units sanctioned, over 92 per cent of these dwelling units have benefited the economically weaker sections and low-income groups of the society. 

• In addition to its own business operations, HUDCO has also been playing a catalytic role in formulation and implementation of the various national housing and habitat policies and has become a powerful vehicle for carrying out the mandate of the government’s flagship programmes and missions across the country.

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