Bhubaneswar: In a significant step towards accelerating urban transformation, the Housing & Urban Development Department, Government of Odisha, organised a high-level consultation with the National Housing Bank (NHB), Housing and Urban Development Corporation (HUDCO), and leading Housing Finance Companies (HFCs) to develop and finance bankable urban projects across the State.

The meeting was chaired by the Additional Chief Secretary, H&UD Department, Usha Padhee and attended by the Principal Secretary to Government, Finance Department Sanjeeb kumar Mishra, Senior officials of the Department, Commissioners of six Municipal Corporations, and Vice Chairpersons of six Development Authorities, along with their teams, participated in the deliberations.

The consultation focused on scaling up affordable housing and identifying investment-ready projects under the Government of India’s Urban Challenge Fund (UCF). Discussions centred on structuring financially viable and scalable urban projects to attract institutional financing.

With Odisha’s urban population projected to rise from 17% in 2011 to nearly 40% by 2036, the meeting underscored the critical role of cities as engines of economic growth and the need for innovative financing frameworks to support this transition.

The Managing Director of NHB and CEOs of leading HFCs presented their financing solutions and engaged in detailed discussions with State officials on housing and urban infrastructure projects.

Articulating the State’s long-term vision of “Viksit Odisha @2036”, the Hon’ble Minister, Housing & Urban Development, Krushna Chandra Mahapatra, in a statement, noted:

“Urban transformation is central to our vision of Viksit Odisha @2036. We are committed to building inclusive, resilient and future-ready cities through sustainable and innovative financing mechanisms. Strategic partnerships with institutions like NHB, HUDCO and leading HFCs will help us create a robust pipeline of bankable projects, accelerate affordable housing, and drive integrated urban infrastructure development across the State.”

The Additional Chief Secretary, Usha Padhee, emphasised the importance of building a strong pipeline of investment-ready projects, strengthening urban infrastructure financing, and enabling faster, resilient, and inclusive urban growth across all Urban Local Bodies.

Financial institutions, including HUDCO and NHB, shared strategies for leveraging the Urban Challenge Fund and reaffirmed their commitment to support Odisha in advancing its urban development agenda.