NEW DELHI: State-run Housing & Urban Development Corporation (HUDCO) is likely to consider financing real estate companies in the private regime beginning next year, said Sanjay Kulshrestha, Chairman of HUDCO on Saturday.
Currently, it doesn’t undertake, as per its prevailing mandate, corporate financing in the private sector for the real estate and housing sector, and its activities are largely confined to the Government and Government-owned utilities.
Addressing a NAREDCO conference in New Delhi, he said the housing and real estate sector, including infrastructure, are accorded special preferences and treatment in the budget, particularly in 2023-24. This could be one of the reasons that the corporation might undertake financing real estate activities.
He indicated that the housing development corporation would make necessary consultations with the authorities concerned so that it becomes feasible for the corporation to be permitted to go in for private sector financing.