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Financial assistance under this scheme is made available to Hotels, Motels,
and tourism related activities.
Eligibility
.
The loan is available for Hotels & Motels to be established,
for catering to the needs of
tourists,in places of importance from the point of view of tourism |
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Strategic key location near a City, or a Tourist Spot would be the prime consideration. |
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The hotels should be at least a of a standard category and should
have boarding, lodging
and restaurant facilities.
All rooms should be bath attached. | | .
The Plan of the Hotel should be approved by the appropriate local authorities. |
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Minimum margin on security on primary security is 25% |
Upper limit of Assistance
| Proprietary
& Partnership concerns upto | :Rs.200
lakhs | | Limited
Companies upto |
:Rs.800
lakhs. |
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 RATE
OF INTEREST: 11.5 %
Promoter's Contribution :
The
minimum promoter's contribution stipulated is 33.33% of the estimated cost of
the project.
Assistance is also available to tourism related activities like
Health club, Massage center, as part of the hotel complex, Amusement park etc.
Apart from the primary security, collateral backing is to be provided depending
on the project location and investment of promoters.
Capital
Subsidy:
Central Government Capital subsidy of 10% of the term
loan for star catagory hotels where approval has been obtained prior to 31.08.04. 1.Star
subsidy upto Rs25 lakhs 2.1.Star
subsidy upto Rs50 lakhs 3.Star
subsidy upto Rs75 lakhs
GENERAL :
The corporation participates in funding the projects in
consortium with other lending institutions on mutually agreed terms, upper limit
being as given above.
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