SCHEME NO. : 5
|
1. |
Name
of the Scheme |
HOTELS & TOURISM
RELATED ACTIVITIES - HERITAGE HOTELS, MIDWAYS, MOTELS, RESTAURANT, AMUSEMENT
PARKS, ROPEWAYS, |
|
2. |
Purpose
of Loan |
§
Construction of
new hotel/motel/ midway/restaurant. §
Expansion/renovation §
Converting old
forts & palaces into heritage hotels. §
Plant &
equipment, electrification, air conditioning, furniture & fixtures,
health club, swimming pool, indoor sport facilities, shopping arcade, garden
equipment and other essential amenities. |
|
3. |
Eligibility
Criteria |
Assistance under the scheme
will be available to the promoters/ concern(s) having: i.
clear, valid and mortgageable land title. ii. building plan approval
and NOC from local authority. iii. assistance
under the scheme may be availed for purchase of land, construction of
building, purchase of plant & machinery, furniture/ fixtures, etc. |
|
4. |
Loan
Limit |
Rs.
4.00 crores. Loans of higher amount considered on
selective basis on merits. |
|
5. |
Security
Margin |
Minimum
25% |
|
6. |
Promoters'
Contribution |
Minimum
30% |
|
7. |
Debt
Equity Ratio |
1.5: 1 |
|
8. |
Interest
Rate |
Prevailing interest rate. |
|
9. |
Repayment
Period |
Upto 8 years in quarterly installments including
moratorium period of 1-2 years. |
|
10. |
Rebate
on Timely Payment |
As per prevailing policy -
2% wef 16.07.2009. |