HUDCO finances housing and urban infrastructure development programmes in the country and provides long-term finance for construction of houses in urban and rural areas and also to set up new or satellite towns.
Public sector lender Housing and Urban Development Corporation (HUDCO) plans to sanction loans worth Rs25,000 crore and disburse around Rs8,000 crore in FY12, a senior company official said.
HUDCO finances housing and urban infrastructure development programmes in the country and provides long-term finance for construction of houses in urban and rural areas and also to set up new or satellite towns.
"We plan to disburse funds worth Rs8,000 crore and sanction loans of Rs25,000 crore in this fiscal. These disbursals would be primarily in sectors such as real estate, infrastructure, power and special economic zones (SEZs)," HUDCO Senior Executive Director, R Khanna, told reporters on the sidelines of a Confederation of Indian Industry (CII) event here today.
The majority of the disbursements would be towards the real estate sector to promote affordable housing for economically weaker section (EWS) and lower income group (LIG), he said.
"The housing sector has been neglected for quite some time. We want to focus on the affordable housing segment and so have planned to disburse a significant amount towards these projects," he said.
The company is also planning to raise around Rs5000 crore through issue of tax-free infrastructure bonds.
"We expect that the bonds will be issued by June after a notification in this regard is out. We would also be raising funds through bank borrowings," Khanna said.
In FY 11, HUDCO sanctioned loans worth Rs19,761 crore and disbursed around Rs5,105 crore.
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