HUDCO can boost housing schemes: Maken

Last Updated: Wed, Jan 09, 2013 16:20 hrs

New Delhi, Jan 9 (IANS) The Housing and Urban Development Corporation Limited (HUDCO) can boost the government's flagship programme "Rajiv Awas Yojana (RAY)", union Minister for Housing and Poverty Alleviation Ajay Maken said here Wednesday.

"HUDCO can be catalyst in the flagship 'Rajiv Awas Yojana' programme for providing consultancy support, viability gap funding and capacity building," Maken said at the launch of the public issue of HUDCOS tax-free bonds.

RAY has a vision of creating a slum-free India under which assistance would be provided by the central government to states that are willing to assign property rights to slum dwellers, for slum redevelopment and creation of affordable housing with a condition of reserving 35 percent of the number of dwelling units for EWS or LIG housing.

The funds proposed to be raised by HUDCO through the issue will be utilised towards lending purposes, working capital requirements and augmenting the resource base of the company, he said.

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