The present study deals with Rural Housing Finance , The Role of Housing and Urban Development Corporation (HUDCO) Ltd., in which an attempt has been made to evaluate the operational performance of HUDCO in Rural Housing Sector in India with special reference to Orissa vis-a-vis in other states. Contents: Introduction, Housing Finance in India with Special Reference to Orissa, HUDCO A Profile of its Organisational Structure, Resource Management by HUDCO, Operational Management of HUDCO in the Rural Housing Sector in Orissa Vis-a-Vis in Other States, Operational Performance of HUDCO in the State of Orissa, Summary of Findings and Conclusions.