A New Niwas For Hudco’s Retail Lending Operations

New Delhi, April 24: | Updated: Apr 25 2002, 05:30am hrs
The Housing and Urban Development Corporation (Hudco) is setting up a subsidiary company, called Hudco Niwas, to take over its retail lending operations for housing.

The corporation, which is the biggest housing finance company (HFC), will also be appointing a committee to restructure the organisation. The restructuring will be aimed at decentralisation of not only the organisation but also financial restructuring.

In the housing sector, the corporation gave loan assistance of Rs 2,574.38 crore for funding 7.36 lakh dwelling units. It has sanctioned Rs 2,789.62 crore loan till date under Hudco Niwas, its retail housing scheme. In 2001-02, Rs 463.87 crore was sanctioned and Rs 1,005.61 crore disbursed to 75,190 applicants.