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Term Sheet

Housing and Urban Development Corporation Limited

Issuer Housing and Urban Development Corporation Limited

Issue Opening Date January 27, 2012Issue Closing Date February 6, 2012

Instrument Tax-Free Secured Redeemable Non-Convertible Bonds in the nature ofDebentures

Min Application Size Rs 10,000/-

Thereafter in multiples of Rs 1,000/-

Interest on Refund 4% p.a

Interest on application money 8% p.a.

Credit Rating Fitch AA+ (ind) by Fitch Limited

CARE AA+ by CARE

Issue Size Rs. 2,000 Crore with an Green Shoe option (option to retain

oversubscription) of up to Rs. 4,684.72 Crore

Security The Bonds proposed to be issued are secured by a floating first pari-passucharge on present and future receivables of our Company to the extent ofamount mobilized under the Issue. The Company reserves the right tocreate first pari-passu charge on present and future receivables for itspresent and future financial requirements.

Tranche Series-I Series-II

Tenor 10 Years 15 Years

Put Call Option None None

Maturity/ Redemption At par on the expiry of 10th Yearfrom the Deemed Date of

Allotment

At par on the expiry of 15th Yearfrom the Deemed Date of

Allotment

Annual Coupon

Retail Investors (Category III) 8.22% 8.35%

Other Investors (Category I & II) 8.10% 8.20%

Note:

The differential rate for retail investor shall be applicable only to the firstallottee. In the event of Sale/Transfer by the original allottee of a retailbond, the subsequent allottee will get the rates of the other investorscategory.

Interest Payment Annual Annual

Interest Payment Date The date, which is the day falling one year from the Deemed Date ofAllotment in case of first interest payment and the same date, till the date

of redemption for subsequent interest payments.

Listing Proposed on BSE Ltd. (BSE) and National Stock Exchange of India Ltd.(NSE). The Designated Stock Exchange for the Issue is NSE

Trustee SBI Capital Trustee Company Limited

Issue shall remain open for subscription for a minimum of3 days or such extended period upto a maximum period of 30

days from the date of opening of the Issue. In case of early closure, HUDCO shall ensure that public notice of such early

closure is published on or before theday of such early date of closure through advertisement/s in a leading national

daily newspaper.

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Investor Categories

Category I Category II Category III

Public Financial Institutions,Statutory Corporations,

Commercial Banks, Co-operative Banks and Regional

Rural Banks, which are

authorised to invest in the

Bonds;

Provident Funds, PensionFunds, Superannuation Funds

and Gratuity Fund, which are

authorised to invest in the

Bonds;

Insurance companiesregistered with the IRDA;

National Investment Fund;Mutual Funds;Foreign Institutional Investors

(including sub-accounts)

Companies; bodies corporateand societies registered under

the applicable laws in India

and authorised to invest in

the Bonds;

Registered trusts which areauthorised to invest in the

Bonds;

Scientific and/or industrialresearch organisations, which

are authorised to invest in the

Bonds;

Partnership firms in the nameof the partners; and

Limited liability partnershipsformed and registered under

the provisions of the Limited

Liability Partnership Act, 2008

(No. 6 of 2009).

The following investors applying

for an amount aggregating to

above Rs. 5 lakhs across all seriesin each tranche

Resident Indian individuals;Non Resident Indians on

repatriation as well as non-

repatriation basis.

The following investors applying

for an amount aggregating to up

to and including Rs. 5 lakhsacross all series in each tranche

Resident Indian individuals; Non Resident Indians on

repatriation as well as non-

repatriation basis.

45% of issue size 25% of issue size 30% of issue size