After 45 years, housing finance giant HDFC will cease to exist as it merges into HDFC Bank. To mark its contribution to India's economic journey, HDFC has opened a legacy centre in Mumbai.

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The HT Parekh Legacy centre has been set up at the Ramon House — the house of HDFC. It pays tribute to the man behind the Housing Finance Development Company — HT Parekh — who started the company and pioneered institutional housing finance, allowing the middle class to buy and own homes.

In 1977, HT Parekh started HDFC with a personal contribution of 10,000 rupees... and grew it into a juggernaut of the Indian financial landscape — a legacy his nephew Deepak Parekh has contributed to.

Also Read: HDFC's Deepak Parekh writes letter to shareholders, announces retirement ahead of merger

The legacy centre documents not just HDFC's triumphs over the years, but HT Parekh's struggles too —right from convincing an India that frowned upon debt to avail home loans. The centre also houses snippets of Parekh's personal history — from letters he wrote to his wife and friends... to appointment letters he handed out to the first employees — including Deepak Parekh and Keki Mistry.

Deepak Parekh, Chairman of HDFC said, "This Legacy Center is a humble contribution to HT Parekh as it showcases one of the most successful startups in an era of socialism."

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