HUDCO (Housing and Urban Development Corporation Limited), the development body that is responsible for building affordable houses and urban renovation is planning to finance several new projects in more than 100 cities in next one year.The amount of loan will not be common in every state but vary according to the state government. It could be from few crores to hundreds of crores depending on the city. In the scheme, HUDCO will avail loan to the urban local body for the development while the local body should guarantee the return of the loan.HUDCO chairman VP Baligar said that, “the finances will be extended on a first-cum-first basis. Urban bodies in Madhya Pradesh and Punjab have already come forward to avail of the scheme. We expect to cover 35 towns during the current fiscal, and about 100 in one year.”Even cities like Hoshangabad and Ujjain have been selected in the loan availment for the drinking water and drainage projects. 25% of the total expense will be covered by the state government and the rest will be on HUDCO and that will be returned later by the local body.HUDCO has already sanctioned Rs 13,000 crore for various projects out of which 70 % comes under the category of urban infrastructure. The initiative by HUDCO is expected to be another step in the advancement of the country.