Investment Promotion Assistance To Setup Large/Mega/Ultra-Mega Tourism Projects
The scheme aims to attract high-value private investment for developing Large, Mega, and Ultra-mega tourism projects in the state. It offers financial assistance of up to 30% of the capital investment to investors who meet minimum investment thresholds and generate employment for Madhya Pradesh.
About This Scheme
Benefits
₹15.0 Cr
The beneficiary will receive Investment Promotion Assistance of 30% on capital investment, subject to a maximum ceiling of ₹15,00,00,000/-.
Mega ProjectsThe beneficiary will receive Investment Promotion Assistance of 30% on capital investment, subject to a maximum ceiling of ₹30,00,00,000/-.
Ultra-mega ProjectsThe beneficiary will receive Investment Promotion Assistance of 30% on capital investment, subject to a maximum ceiling of ₹90,00,00,000/-.
Disbursement ScheduleThe assistance is disbursed over four years in the following percentage of the total approved assistance amount:
- First Year: 10%.
- Second Year: 10%.
- Third Year: 5%.
- Fourth Year: 5%.
For Heritage Hotels, the mandatory requirements for investment and employment are reduced to 50% of the limits set for Large, Mega, and Ultra-mega categories, while they remain eligible for the benefits associated with those categories.
SC/ST EntrepreneursApplicants belonging to SC/ST categories with 100% ownership are entitled to an additional 5% capital investment subsidy.
Phase-wise IncentivesProjects are entitled to get phase-wise incentives provided the first phase is completed in 2 years, the second phase in 3 years, and the last phase in 5 years.
Conditions- The unit claiming Investment Promotion Assistance shall not be entitled to capital subsidy under any other category of the policy.
- The beneficiary must maintain the minimum employment of residents of M.P. as prescribed for their category.
- The beneficiary must complete the project phases within the approved implementation timeline to receive phase-wise grants.
- If the unit executes the entire project in one go, capital expenditure incurred up to a maximum of 05 years prior to the commencement of the unit is considered valid for the grant calculation.
Eligibility
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Required Documents
- ✦Memorandum and Articles of Association (if Public/Private Limited Company).
- ✦Partnership Deed and Certificate of Registration (if Partnership Firm).
- ✦Certificate of Registration (if Proprietary Concern or Other Legal Entity).
- ✦PAN Card of the Firm/Company.
- ✦Photo ID Proof of the Applicant (Aadhaar Card, Voter ID, Passport, etc.).
- ✦Proof of Legal Authorized Person from the Unit.
- ✦Project Report.
- ✦Land Record Ownership Documents (Certified Khasra).
- ✦Site Map.
- ✦Registered Sale Deed or Lease Deed (Proof of Title).
- ✦Copy of the Building Permission Granted by the Appropriate Authority.
- ✦Copy of the Map Approved by the Concerned Authority.
- ✦Approved Floor Plan.
- ✦Certificate from Town and Country Planning (TNCP).
- ✦Total Capital Cost Certificate Certified by a Certified Engineer/Valuer.
- ✦Total Project Cost Certificate Certified by a Chartered Accountant (CA).
- ✦Debt Details from Concerned Financial Institution.
- ✦Completion Certificate from Competent Authority.
- ✦Proof of Date of Commercial Operation (First Lodging Bill, Catering Bill, or Service Bill).
- ✦Coloured Photographs of the Unit/Project from 3 Different Angles.
- ✦Cancelled Cheque of the Firm/Company.
- ✦Vendor Form.
✦ Required ◦ Optional
How to Apply
Step 1: The applicant must visit the Madhya Pradesh Government's Invest Portal, and initiate the registration process as a "Vendor / Investor".
Step 2: The applicant must fill in the basic information section by selecting the appropriate "Type of Organisation" from the available options, which include Public Limited Company, Private Limited, LLP, Proprietorship Firm, Partnership Firm, Cooperative, Trust, FPO, and Individual. The applicant must enter the "Firm/Company Name" and the "Authorized Person Name" to establish the identity of the entity.
Step 3: The applicant must enter a valid email ID and mobile number. The Application Number, User ID, password, and all other important communications will be sent to this registered email ID.
Step 4: The applicant must complete the basic registration form submission. The system generates a User ID and password, which are shared directly with the applicant's registered mobile number.
Step 5: The authorized person logs in to the portal using the User ID and password received on the registered mobile number to process the company's activities. After the initial login, the applicant must update their profile to complete the full registration process before proceeding to apply for the scheme.
Application Process
Step 1: The applicant must apply for and secure mandatory permissions through the online single-window system within the stipulated time frames. Then, the applicant must do the following -
- Complete the construction, ensuring the minimum capital expenditure is met.
- Commence commercial operations and gather proof of operation.
Step 2: The applicant must submit the capital subsidy application online within one year from the date of commencement of operation. Upload all required documents, ensuring all files meet the specified format requirements (e.g., JPG for photos).
Step 3: The Tourism Department/Board verifies the application and documents and processes the subsidy claim.
Quick Info
- Level
- Central Government
- Max benefit
- ₹15.0 Cr