HDFC

HDFC cooperatives are housing development fund corporation co-ops — limited-equity buildings, many born from the city's rehabilitation of distressed stock, operating under income limits for purchasers and restrictions on resale profit. The bargain is affordability against appreciation: shares cost far less than market co-ops, and the restrictions keep them that way for the next income-qualified buyer.

For records and transactions, HDFC status is structural: it lives in the corporation's certificate and regulatory agreements, drives eligibility and pricing, and varies meaningfully between buildings — flip-tax formulas, income caps, and oversight terms differ by agreement. A market-priced listing in an HDFC is a contradiction the documents will resolve one way or the other.