HUDCO FULL FORM

HUDCO FULL FORM

Full Form of HUDCO : Housing and Urban Development Corporation Limited

What is the full form of HUDCO ?

No:1. HUDCO stands for Housing and Urban Development Corporation Limited.
No:2. It a wholly-owned government company which provides loans for housing and urban infrastructure projects in India.
No:3. Its vision is to become a leading techno-financial institution to promote sustainable habitat development for transforming the lives of people.
No:4. It is headquartered at New Delhi. Dr. M. Ravi Kanth IAS (KL: 86) is the current (as of July 2017) Chairman & Managing Director of HUDCO.

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Main Objectives

The key objectives of the company as described in its Memorandum of Association are :
No:1. To provide long term loan for the construction of houses for residential purposes
No:2. To finance or undertake the setting up of new towns
No:3. To finance or undertake the setting up of enterprises of building material
No:4. To administer the money received as grants from Government of India and other sources
No:5. To promote, establish and provide consultancy services for the projects related to Housing and Urban Development programmes
No:6. To set up HUDCO’s own Mutual Fund related to Housing and Development programmes

Brief History

No:1. It was incorporated as a private limited company “The Housing and Urban Development Finance Corporation Private Limited” on 25 April 1970.
No:2. 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.
No:3. On 9 December 1996, it was notified as a public financial institution under Section 4A of the Companies Act, 1956 by the Department of Company Affairs, Ministry of Finance, GoI.
No:4. 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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