Housing and Urban Development Corporation (HUDCO) has raised funds of Rs 2050 crore through issue of Government of India fully serviced, unsecured, taxable HUDCO bonds series – II 2018 and the proceeds has been fully utilized for lending to Building Materials and Technology Promotion Council (BMTPC) an autonomous body of MoHUA, which has been identified by Government of India to take loans on their behalf, as per advice of MoHUA and disburse the same as central assistance to various States/ UTs through Central Nodal Agencies, so designated under Pradhan Mantri Awas Yojana (Urban) (PMAY).
HUDCO finances social housing and residential real estate through primarily lending to State Governments and their agencies, which, in turn, extend the finance to or utilise the finance for the ultimate individual beneficiaries.