HUDCO Full Form | Full Form of HUDCO

HUDCO Full Form - Housing and Urban Development Corporation Limited

  • HUDCO stands for Housing and Urban Development Corporation Limited.
  • It a wholly-owned government company which provides loans for housing and urban infrastructure projects in India.
  • Its vision is to become a leading techno-financial institution to promote sustainable habitat development for transforming the lives of people.
  • It's headquartered at New Delhi. Dr. M. Ravi Kanth IAS (KL: 86) is that the current (as of July 2017) Chairman & Managing Director of HUDCO.
 Housing and Urban Development Corporation Limited

Housing and Urban Development Corporation Limited

Main Objectives

  • The key objectives of the corporate as described in its Memorandum of Association are listed below:
    • To provide long team loan for the construction of houses for residential purposes.
    • To finance or undertake the setting up of new towns.
    • To finance or undertake the setting up of enterprises of building material.
    • To administer the cash received as grants from Government of India and other sources.
    • To promote, establish and provide consultancy services for the projects related with Housing and Urban Development programmes.
    • To set up HUDCO's own Mutual Fund related with Housing and Development programmes.

Brief History

  • It was incorporated as a private Ltd. "The Housing and concrete Development Finance Corporation Private Limited" on 25 April 1970.
  • In the mid-1970s, its name was changed to its present name and a new certificate of incorporation was issued by the then Registrar of Companies, Delhi & Haryana.
  • On 9 December 1996, it had been notified as a public financial institution under Section 4A of the businesses Act, 1956 by the Department of Company Affairs, Ministry of Finance, GOI.
  • On 31 July 2001, NHB issued a certificate of registration to HUDCO permitting it to carry on the business of a housing finance institution.

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