Hudco Can Extend Loan Assistance Of Up To Rs 1 Lakh Crore Under Housing Scheme
The expected loan assistance under the PMAY-U 2.0 is based on the loan disbursement of over Rs 42,000 crore in the earlier phase.
(Residential buildings developed by Hudco under EWS PMAY scheme in Andhra Pradesh. Source: company website)
Housing & Urban Development Corp. has a potential for extending loan assistance in the range of Rs 75,000 crore to Rs 1 lakh crore under Pradhan Mantri Awas Yojana-Urban 2.0 scheme, according to an exchange filing on Thursday.
Under PMAY-U 2.0, Hudco has also been designated as one of the central nodal agencies for channelling interest subsidies and one of the technical institutions to carry out desk-cum-site scrutiny of the projects.
The expected loan assistance under the PMAY-U 2.0 is based on the loan disbursement of over Rs 42,000 crore in the earlier phase. The PMAY-U 2.0 guidelines are also set to open significant opportunities for Hudco in consultancy and capacity-building initiatives, it said.
Earlier on Aug. 29, Hudco received a certificate of registration as a non-banking financial company or infrastructure finance company from the Reserve Bank of India. The IFC status provided to the company will allow it to finance various infrastructure sectors in addition to housing.
Shares of Hudco closed 4.32% lower at Rs 230.35 apiece on the BSE, compared to a 0.29% advance in the benchmark Sensex.
