The Punjab State Federation of Cooperative House Building societies Ltd., Known as "HOUSEFED" WAS ORGANISED ON 17.11.1970 to tackle the problem of housing in the Punjab State, by providing financial assistance to the individuals for construction of houses in rural and urban areas. Any individual desirous of taking housing loan is enrolled as member of a cooperative house building society already existing in that area. At the time of its inception with a membership of 33 cooperative house building societies, the Federation manned by three staff members could not start functioning till August, 1973. During the year 1973-74 only Rs. 4.47 lacs were sanctioned to cooperative house building societies. Since then Housefed has never looked back and has continued to gain strength, with a total membership of 345 cooperative house building societies, has disbursed Rs. 113326.15 Lacs as on 30.11.2011 for the constructions of 121179 houses through its 17 district offices and H.O manned by about 365 staff members functioning at various levels. Besides advancing loans the Federation has also undertaken the construction work of multi storeyed group housing complexes and has successfully completed two complexes at Mohali, two at Ludhiana and one at Bhatinda consisting of 888 flats and development of 495 plots of various sizes so far. All the flats and plots have been allotted and possessions to its allottees have been given. Housefed has constructed 96 flats at S.B.S Nagar, Phase-1 Ludhiana, 84 flats at Jallandhar & 144 flats at Amritsar, Construction of 168 flats at New Amritsar Complex Phase-II and 90 flats at S.B.S Nagar Phase-II Ludhiana has been completed.