1. Incorporated on 25th April, 1970, HUDCO was an expression of the concern of the Central Government in regard to the deteriorating housing conditions in the country and a desire to assist various agencies in dealing with it in a positive manner.
2. The principal mandate of HUDCO was to ameliorate the housing conditions of all groups and with a thrust to meet the needs of the low income group (LIG) and economically weaker sections (EWS).
OBJECTIVES
1. To provide long-term finance for construction of houses for residential purposes in urban and rural areas and finance or undertake Housing and Urban infrastructure development programmes in the country.
2. To finance or undertake, wholly or partly, the setting up of the new or satellite towns.
3. To subscribe to the debentures and bonds issued by the state Housing and Urban Development Boards, Improvement Trusts, Development Authorities etc. especially for the purpose of Housing and Urban Development programmes.
4. To finance or undertake the setting up of industrial enterprise for building material.
5. To administer the monies received, from time to time, from the Government of India and other sources as grants or otherwise for the purpose of financing or undertaking housing and urban development programmes in the country.
6. To promote, establish, assist, collaborate and provide consultancy services for the projects of designing and planning of works relating to housing and Urban Development in India and abroad.
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