The Housing and Urban Development Corporation Limited (HUDCO) is a government-owned corporation in India. One of the public sector undertakings, it is wholly owned by the Union Government and is under the administrative control of the Ministry of Housing and Urban Poverty Alleviation. It is charged with building affordable housing and carrying out urban development. HUDCO describes its mission as:
- To provide long term finance for construction of houses for residential purposes or finance or undertake housing and urban development programmes in the country;
- to finance or undertake, wholly or partly, the setting up of new or satellite towns;
- to subscribe to the debentures and bonds to be issued by the State Housing (and/or Urban Development) Boards, Improvement Trusts, Development Authorities etc.; specifically for the purpose of financing housing and urban development programmes;
- to finance or undertake the setting up of industrial enterprises of building material;
- to administer the moneys received, from time to time, from the Government of India and other sources as grants or otherwise for the purposes of financing or undertaking housing and urban development programmes in the country and;
- to promote, establish, assist, collaborate and provide consultancy services for the projects of designing and planning of works relating to Housing and Urban Development programmes in India and abroad.
HUDCO was incorporated on April 25, 1970. In 1972, HUDCO catalyzed innovative housing schemes with well-known architects such as B. V. Doshi, Charles Correa, and Christopher Charles Benninger. More recently, the HUDCO has focused on the creation of urban infrastructure.
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