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HUDCO amalgamated on 25th April 1970 with a motive to facilitate the various agencies in the magnifying of the housing conditions of India. Significant prominence was given in the development of housing facilities are HUDCO Niwas Yojana for the lower income group (LIG) and the economically weaker sections (EWS) of the society. Commencing with a primary investment of 2 crores. Today HUDCO has a net stake of Rs.3977 crores. Financing for the housing development is the main intention of HUDCO. HUDCO financial service is the main occupation of HUDCO bank. Financing institutions like LIC, GIC and other banking institutions. International assistance from KfW, JBIC, ADB, USAID etc. Market borrowings through debentures, taxable and tax-free bonds. Public deposits.
HUDCO has been affiliated with not just housing development but also with the overall infrastructure development. Some of such activities are:- HOUSING Urban housing Rural housing Staff rental housing Repairs and renewal Shelter and sanitation facilities for footpath dwellers Workingwomen ownership condominium housing Housing through private builders/ joint sector Individual HUDCO housing loans and HUDCO home loan for construction and renovation through 'HUDCO Niwas' Land acquisition Valmiki Ambedkar Awas Yojana (VAMBAY) Jawahar Lal Nehru National Urban Renewal Mission (JLNNURM) INFRASTRUCTURE Integrated land acquisition and development Environmental improvement of slums Utility infrastructure Social infrastructure Economic and commercial infrastructure FINANCIAL SERVICES HUDCO Niwas - HUDCO home loans by HUDCO Bank Financing of Urban Development Projects and Industrial Products Projects by HUDCO Bank. BUILDING TECHNOLOGY Building centers for technology transfer at grass-roots Building materials industries CONSULTANCY SERVICES Consultancy in housing, urban development and infrastructure.
RESEARCH AND TRAINING CAPACITY Building and technical assistance to all borrowing agencies, research training and networking in human settlement planning and management. Along with the above said services HUDCO Inc, I also serve as an Electric supply limited. HUDCO Electric is a wholesale distributor of electrical products to industrial, commercial and residential markets covering motor control, distribution products, wire and cable, lighting fixtures, conduit, boxes and fittings, electric heating, wiring devices and many other products.