HUDCO planning to raise Rs. 10k cr. through tax free bonds

By Accommodation Times Bureau

New Delhi: Today Housing and Urban Development Corporation (Hudco) said that, we are planning to raise approx Rs.10,000cr. through free bonds and other instruments this fiscal to fund business expansion.
According to the senior official, authority is planning to increase about Rs.10,000cr in fiscal year 2012-13. He added that, of the total resource mobilisation target for the current fiscal Rs 5,000 crore would come from tax-free bonds.
Apart from this, some part of the amount would be raised from non-tax free bonds. He further said that, the company is also talking to National Housing Bank for loans worth Rs 500 crore at a competitive interest rate for its social housing operations in rural areas.

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