SCHEME FOR COMMERCIAL COMPLEX / COVENTION CENTERS / COMMUNITY HALLS / MARRIAGE HALLS

1. The Scheme: The scheme of assistance is for construction of commercial complexes / convention centers / community halls / marriage halls.

2. Eligibility: Proprietary, Partnership & Limited Companies shall be eligible for assistance.

3. Purpose of assistance: Financial assistance will be considered for construction of building and all essential equipments required for the project except land.

4. Quantum of assistance: 

  • Proprietary / Partnership : Rs.500 lakhs [Maximum loan amount]

  • Limited Companies : Rs.1000 lakhs [Maximum loan amount]

5. Promoters' Contribution: Promoters Contribution shall be 35% minimum.

6. Debt Equity Ratio: DER shall be 2 : 1 maximum.

7. Rate of Interest :  PLR + 1.5%

8. Repayment:

  • Repayment will be for 8 years including moratorim period of 2 years
  • If the commercial complex is built partly for outright sale, the repayment will be 4 years.
9. Collateral Security : Collateral security will have to cover 50% to 100% of loan amount depending upon the project size, location and other financial norms.

Page modified on 05.10.2012

 

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