HUDCO To Lend Rs 11,000 Crore For Amaravati Capital City Development

Our company was granted a certificate of incorporation by the Registrar of Companies, Delhi, on April 25, 1970, and was named “The Housing and Urban Development Finance Corporation Private Limited.” It was founded as a private limited company under the Companies Act, 1956. On July 9, 1974, our company was renamed “Housing and Urban Development Corporation Limited,” and a new certificate of incorporation was issued by the Delhi & Haryana Registrar of Companies subsequently. The Department of Company Affairs, Ministry of Finance, Government of India notified our company on December 9, 1996, that it was categorized as a public financial institution under Section 4A of the Companies Act, 1956. We were also granted permission to function as a housing finance institution on July 31, 2001, when we obtained a certificate of registration from the NHB.

HUDCO lends Andhra Pradesh Rs. 11,000 crore for construction

On October 21, the state government of Andhra Pradesh announced that the Navaratna central public sector enterprise Housing and Urban Development Corporation Ltd. (HUDCO) had offered to lend Rs 11,000 crore towards the development of the greenfield capital city of Amaravati.

During his visit to Delhi yesterday, Municipal Minister P Narayana briefed HUDCO CEO Sanjay Kulshrestha on the state government’s development plans for Amaravati. In response to the state government’s proposals, the CEO of Hudco agreed to lend Rs 11,000 crore to the Andhra Pradesh Capital Region Development Authority (AP CRDA) for the construction of Amaravati, according to an official release.

The Asian Development Bank and the World Bank lend Rs. 15000 crore

The World Bank and Asian Development Bank (ADB) have agreed to lend Rs 15,000 crore of the Rs 26,000 crore required to build Amaravati Phase-1, and HUDCO’s new pledge of a Rs 11,000 crore loan will guarantee that the remaining Rs 26,000 crore has been paid, it continued.

Housing and Urban Development Corp. saw a 4% decrease in intraday trading

The stock of Housing and Urban Development Corp (HUDCO) is currently trading at Rs. 200.58 per share, down nearly 4% intraday today. It is anticipated that stock will recover by the end of the day.

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