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HUDCO was incorporated in 1970 to focus on the social aspect of housing and utility infrastructure provision. As a fully owned enterprise of the Government of India, it deals with preferential allocation of resources to the socially disadvantaged.
Objectives
- To provide long term finance for construction of residential accommodation
- To finance or undertake the setting up of new or satellite towns and industrial enterprises of building material.
- To finance or undertake housing and urban development programs in the country, administer moneys received from the Government of India or other sources for the said purpose. To promote, establish, collaborate and provide consultancy services for the designing and planning of works under these programs.
Activities
HUDCO started with an initial equity base of INR 2 crores, today it has a net worth of INR 3977 crores. On an average, one in every 16 houses built in India has invariably availed HUDCO’s financial assistance.
Given this special emphasis on developing housing facilities for the lower income group and the economically weaker sections of the society, HUDCO came up with its HUDCO Niwas scheme. The distinguishing feature of this housing loan scheme is that the loan is directly disbursed to the borrowers, instead of, the established practice of disbursing it through the state governments and their housing agencies.
HUDCO has played an important role in the implementation of the National Housing Policy, Valmiki Ambedkar Awas Yojana, Nehru Rozgar Yojana, Minimum Needs Program and Jawahar Lal Nehru National Urban Renewal Mission.
It has taken up activities such as land acquisition, urban housing and rural housing providing low cost sanitation, night shelter to foot path dwellers, shelter up gradation and working women ownership condominium housing under these programs.
HUDCO Delhi carried out various real estate development projects on behalf of the Ministry of Urban Development, these include HUDCO Place at Andrews Ganj, HUDCO Vishala, HUDCO Trikoot and August Kranti Bhavan at Bikaji Cama Place.
HUDCO’s activities have a Pan-Indian presence spanning 17 Indian states including J&K, Punjab, Haryana, U.P., Bihar, Orissa, Andhra Pradesh, M.P., Gujarat etc.
In spite of being commercial in nature (incorporated under the Companies Act 1956), HUDCO continues its focus on socially relevant sectors which may not be commercially viable and profitable. High-caliber human resources, techno-economic focus and financial and project re-engineering have helped HUDCO attain success in these noble objectives.
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