Over 166.08lakh houses con­structed by Hudco

Accommodation Times - - Editorial -

Hous­ing and Ur­ban Devel­op­ment De­part­ment Cor­po­ra­tion Ltd (HUDCO) is the pre­miere in­sti­tu­tion of the coun­try for con­struc­tion and fi­nance of hous­ing units. In the last 44 years HUDCO has pro­vided af­ford­able houses to peo­ple in over 1877 towns and vil­lages. These houses are af­ford­able, tech­ni­cally sound, fi­nan­cially vi­able, le­gally ac­cept­able and en­vi­ron­men­tally ap­pro­pri­ate. HUDCO is not only con­struct­ing af­ford­able hous­ing but also pro­vide in­fra­struc­ture in ur­ban and ru­ral ar­eas. HUDCO plays a ma­jor role in im­ple­men­ta­tion of Na­tional Hous­ing Pol­icy, and un­der this it cov­ers low cost san­i­ta­tion, night shel­ters for foot­path dwellers and ru­ral hous­ing. Pri­or­ity is given to wa­ter sup­ply, sew­er­age and drainage schemes, es­pe­cially in small and medium towns. HUDCO gives loans to eco­nom­i­cally weaker sec­tions and low in­come groups at con­ces­sional rate of in­ter­est. For the build­ing ma­te­rial tech­nol­ogy per­haps it is the only or­ga­ni­za­tion in the coun­try to pro­mote. It has sanc­tioned 655 build­ing cen­tres all over the coun­try to in­tro­duce al­ter­na­tive and cost ef­fec­tive build­ing tech­nol­ogy. It also pro­vides fi­nan­cial as­sis­tance to build­ing ma­te­rial in­dus­try and for us­ing agri­cul­tural and in­dus­trial waste. De­sign and con­sul­tancy is yet another area in hous­ing in which HUDCO has been work­ing to pro­vide ar­chi­tec­ture, ur­ban plan­ning, ur­ban de­sign and also land­scape and her­itage plan­ning. HUDCO’s on­go­ing projects are be­ing car­ried out through­out the coun­try. Loans are be­ing pro­vided by HUDCO for var­i­ous hous­ing units is Rs. 2544crore and ur­ban in­fra­struc­ture is Rs. 4596crores. But de­spite all these fig­ures two most im­por­tant ar­eas in hous­ing con­struc­tion needs a spe­cific at­ten­tion. First, con­struc­tion fi­nance and se­condly hous­ing loans. Hous­ing con­struc­tions in the coun­try is mainly by the pri­vate sec­tor com­pany which is up to 80 per cent and the re­main­ing 20 per cent are by the gov­ern­men­tal agen­cies like hous­ing boards and HUDCO, CIDCO and the likes. This sec­tor is cash starved and the banks do not grant loans for con­struc­tions fi­nance. It is ob­served that from last 2 years HUDCO has stopped giv­ing con­struc­tion fi­nance to pri­vate sec­tor com­pa­nies. Re­sult­ing pri­vate builders are de­prived of con­struc­tion fi­nance and they have to take loans for their con­struc­tions from open mar­ket at high rates of in­ter­ests and thus in­creas­ing the high prop­erty rates. Se­condly HUDCO is not grant­ing loans to home buy­ers freely. These two ar­eas need spe­cial at­ten­tion by HUDCO for the faster devel­op­ment of houses for the mil­lions.

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