The story
The institution came into existence on 25 April 1970 as a private limited company under the complete ownership of the Government of India with an equity base of Rs.2 crore under the Companies Act, 1956.
It was created against the backdrop of housing deficit in India in 1960s and 70s, with the objective of addressing issue of housing finance and playing role in urban infrastructure development.
The organisation provides finance for setting up of new towns and also works as consultancy services for the projects of designing and planning relating to Housing and Urban Development programs in India as well as abroad.
HUDCO won UN-Habitat Scroll of Honour Award for the contributions to the development of housing in 1991. The institution was conferred with miniratna status in 2004.
From Wikipedia’s article on Housing and Urban Development Corporation, shared under CC BY-SA 4.0.5