HUDCO: All About the Goals and Programs
HUDCO, or Housing and Urban Development Corporation Limited, was founded in 1970 and is today a leading technological and financial organization.
The major purpose of HUDCO is to help, develop, coordinate, market, and provide consulting services for project planning and execution. Such programs are relevant to India’s and other countries’ housing and urban development programs.
HUDCO delivers integrated and sustainable answers to build and analyse difficulties in the urban sector at any and all phases of the project cycle, based on five decades of impeccable expertise. These activities are conducted with the local circumstances and people’s priorities in mind, from conceptualization through project implementation.
HUDCO’s major goal is to make cities more liveable and sustainable by implementing practical solutions that reflect the local ethos and culture.
HUDCO’s goals are as follows
- As per the Memorandum and Articles of association, the following are the key goals:
- To provide long-term financing for the construction of dwellings for financial or residential purposes, as well as to implement housing and urban development programs.
- To attempt or subsidize the development of satellite or new towns, in part or entirely;
- To purchase bonds and convertible notes offered by state housing (or/and urban development) boards, create innovative new, betterment corporations, and other entities, primarily for the purpose of financing urban development and housing projects.
- To develop or support the formation of construction material manufacturing enterprises.
- To maintain track of the financial obtained from the Indian government as well as other organizations in the shape of loans and otherwise, at periodic intervals, for the aim of carrying out or funding housing and urban development projects in the country.
- To develop, cooperate, support, facilitate, and give consulting services for work relating to Housing and Urban Development programs in India and other nations.
- To operate a Venture Capital Fund in the Housing and Urban Development Industries, aiding in creativity in the industries, and to subscribe to or engage in Venture Capital Fund shares/units pushed by government entities in the regions.
- To create a HUDCO Mutual Fund for Housing and Urban Development programs, as well as to subscribe to and/or invest in units of Mutual Funds sponsored by government entities.
Services of Consultation
In the areas of urban development and housing, consulting services are available. HUDCO’s consulting services encompass assisting government programs and lobbying for them in areas such as regional and urban management, project management, social progress, and environmental engineering.
The Government of India has appointed the Housing and Urban Development Corporation Limited. On request, the consultancy services are also supplied to other clients. Terms of reference are created for the service, laying out the timetables, project needs, and payment details stage by stage. Following the completion of the process, a formal agreement for providing consulting services is established.
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