The Housing and Urban Development Corporation Limited (HUDCO) is a government-owned corporation in the country. One of the public sector undertakings (PSU), it is completely owned by the Union Government and is under the administrative control of the Ministry of Housing and Urban Poverty Alleviation
This institution came into working on 25, April 1970 as a private limited company under the complete ownership of the Indian Government with an equity base of Rs. 2 crores under the Companies Act, 1956. It was made against the backdrop of the housing deficit in India in the 1960s and 70s, with the objective of addressing the issue of housing finance and playing role in urban infrastructure development.
The organization grants finance for setting up new towns and also works as consultancy services for the projects of designing and planning relating to Housing and Urban Development programs in India as well as abroad. HUDCO won UN-Habitat Scroll of Honour Award for the contributions to the development of the housing year 1991. The institution was awarded miniratna status in 2004.
HUDCO commenced financing for the development of infrastructures in 1989. The preference was given for infrastructure facilities covering projects in the sectors of drainage, electricity, water supply, sewerage, solid waste management and roads in the urban areas. After that, the social infrastructure components like primary schools and playgrounds, hostels for working women, healthcare centers, police stations and jails, courts, etc. received the advantage of funding for a low cost.
Road and Transport
HUDCO has given term loans for construction of roads and other transportation sectors which includes construction of Airport, Railways, Ports, Metro Rails, Bridges and Flyover, Railway Over-bridges, Subways, Bypasses, Bus Terminal, Parking complexes, Purchase of public transport vehicles, Bus Stops/stations, Intelligent Traffic Management system etc. Airports job at Cochin International Airport and Calicut International Airport in Kerala are supported by HUDCO. The infrastructure for Kerala State Road Transport Corporation and UPSRTC are also funded by them. HUDCO sanctioned 100 crore rupees for KSRTC in 2002 for purchasing 550 buses and 350 mini-buses and 260 crores in 2014 for purchasing 1500 buses.
Solid Waste Management
In 1994 HUDCO established a Waste Management Cell for the promotion of municipal waste management.
Sewerage and Drainage
HUDCO has sanctioned 58 schemes with a project cost of Rs 675 crore to give new systems and to augment the existing systems.
295 water supply schemes, with a project cost of Rs 5,285 crore was funded by HUDCO. In 2016 HUDCO has also given finance to Nellore’s underground drainage project proposed by Nellore Municipal Corporation.