HUDCO sees Rs 1 lakh crore opportunity in new cities push

New Delhi: Housing and Urban Development Corporation (HUDCO) expects a significant increase in business from the development of new cities across the country, chairman and managing director Sanjay Kulshrestha said.

He estimates that investment in each new city and satellite township could exceed ₹1 lakh crore over the full development cycle. The CMD listed projects such as the development of Amaravati, the planned urban expansion around Shillong, proposed satellite townships in Bihar, New Bhubaneswar, New Shimla, and similar initiatives being undertaken in Uttar Pradesh, Rajasthan, Maharashtra and Telangana.

"HUDCO can offer long-term financing, technical expertise, project development support and advisory services for these projects," he told ET.