HUDCO Celebrates its 52nd Formation Day

News: Housing and Urban Development Corporation Ltd. (HUDCO) recently celebrated its 52nd foundation day.

Utility: UPSC, JPSC, BPSC Prelims & Mains
Section: Economy / Misc


  • The Housing and Urban Development Finance Corporation Private Limited was incorporated in April, 1970, as a private limited company under the Companies Act, 1956.
  • Subsequently, the name of our Company was changed to its present name, “Housing and Urban Development Corporation Limited”.

The main objectives of the Company:

  • to provide long-term finance for the construction of houses for residential purposes or finance or undertake housing and urban development programs in the country;
  • to finance or undertake, wholly or partly, the setting up of new or satellite towns;
  • to finance or undertake the setting up of industrial enterprises of building material;
  • to promote and provide consultancy services for the projects of designing and planning of works relating to Housing and Urban Development programs in India and abroad; among others.
  • HUDCO has been instrumental in providing shelter to 1.90 crores urban as well as rural poor to get houses.
  • HUDCO also provides financial assistance to the Governmental agencies in the field of infrastructure development of States.
    • Cumulatively, at end of March 2022, HUDCO has sanctioned a total of 17,326 housing and urban infrastructure projects with a total loan component of Rs. 2,31,465 crore.
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