THEBUSINESSBYTES BUREAU

BHUBANESWAR, APRIL 30, 2026

 “We must build a strong pipeline of investment-ready projects to strengthen urban infrastructure financing and enable faster, resilient, and inclusive urban growth across all Urban Local Bodies,” said Housing and Urban Development Department Additional Chief Secretary Usha Padhee, as Odisha intensified its efforts to accelerate urban transformation through strategic partnerships with leading financial institutions.

In a significant move, the Housing & Urban Development Department, Government of Odisha, held 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, chaired by Usha Padhee, was attended by Finance Department Principal Secretary Sanjeeb Kumar Mishra, senior government officials, Commissioners of six Municipal Corporations, Vice-Chairpersons of six Development Authorities, and their respective teams.

The deliberations focused on expanding affordable housing and identifying investment-ready projects under the Government of India’s Urban Challenge Fund (UCF). Discussions centred on structuring financially viable, scalable urban initiatives capable of attracting institutional investment.

With Odisha’s urban population projected to surge from 17 per cent in 2011 to nearly 40 per cent by 2036, the consultation highlighted the growing importance of cities as engines of economic growth and the urgent need for innovative financing frameworks to support this transformation.

Senior representatives from NHB and leading HFCs presented a range of financing solutions and engaged in detailed discussions with state officials on housing and urban infrastructure projects.

Articulating the state’s long-term vision, Housing and Urban Development Minister Dr. Krushna Chandra Mahapatra said, “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.”

Financial institutions, including HUDCO and NHB, also shared strategies for leveraging the Urban Challenge Fund and reaffirmed their commitment to supporting Odisha’s ambitious urban development agenda.

The consultation marks another important step in Odisha’s journey towards building world-class urban centres, backed by strong institutional partnerships and innovative financing models aligned with the vision of Viksit Odisha @2036.