The finance minister highlighted urban development as one of the six key areas for “transformative” reforms in the budget, alongside taxation, the financial sector, the power sector, mining, and regulatory reforms.
Urban Challenge Fund
Establishment: A Rs. 1 lakh crore Urban Challenge Fund will be created to transform cities into growth hubs, support creative redevelopment, and improve water and sanitation infrastructure.
Funding Mechanism: The fund will cover up to 25% of the cost of bankable projects, with at least 50% of the funding sourced from bonds, bank loans, or public-private partnerships (PPPs). An initial allocation of Rs. 10,000 crore is proposed for FY 2025-26 to launch the initiative.
Three-Year Project Pipeline: Each infrastructure ministry and state will be asked to prepare a three-year project pipeline, with support available from the India Infrastructure Project Development Fund.
Stocks to benefit from these schemes:
1. HUDCO
A government entity financing urban infrastructure and affordable housing projects, driving sustainable urban development in India.
The share price of HUDCO Limited went up 4.8 percent to Rs. 240.80 per share on Saturday, an increase from its previous close of Rs. 229.70 per share.
2. Can Fin Homes
A Canara Bank-promoted housing finance company offering affordable home loans with a customer-centric approach.
The share price of Can Fin Homes Limited went up 4.08 percent to Rs. 695 per share on Saturday, an increase from its previous close of Rs. 667.70 per share.
3. Aavas Financiers Ltd
Focused on low- and middle-income groups, it provides affordable home loans in semi-urban and rural areas.
The share price of Aavas Financiers Limited went up 0.98 percent to Rs. 1,729.70 per share on Saturday, an increase from its previous close of Rs. 1,712.80 per share.
4. GIC Housing Finance Ltd
Backed by General Insurance Corporation, it offers home loans and loan-against-property services to retail and corporate customers.
The share price of GIC Housing Finance Limited went up 2.7 percent to Rs. 191.65 per share on Saturday, an increase from its previous close of Rs. 186.58 per share.
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5. LIC Housing Finance Ltd
A subsidiary of LIC, it’s a trusted name in home loans with a wide range of products and extensive reach.
The share price of LIC Housing Finance Limited went up 0.4 percent to Rs. 600.65 per share on Saturday, an increase from its previous close of Rs. 598.10 per share.
6. PNB Housing Finance Ltd
Promoted by Punjab National Bank, it provides home loans and construction finance with a strong urban and semi-urban presence.
The share price of PNB Housing Finance Limited went up 4.95 percent to Rs. 921.75 per share on Saturday, an increase from its previous close of Rs. 879.20 per share.
7. Aadhar Housing Finance Ltd
Specialises in affordable home loans for economically weaker sections, promoting financial inclusion and homeownership.
The share price of Aadhar Housing Finance Limited went up 1.81 percent to Rs. 405.75 per share on Saturday, an increase from its previous close of Rs. 398.50 per share.
Written By Fazal Ul Vahab C H
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