What you get
- Coverage of Moratorium Period: Interest repayment during the moratorium period is also eligible for subsidy. - Assistance on Actual Disbursement: The subsidy is calculated based on the actual disbursed amount of the sanctioned term loan. - Encourages Timely Repayment: Incentivizes developers to maintain regular repayment schedules to avoid being declared defaulters.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
What is the objective of the "Scheme for Financial Assistance to Integrated Logistics Facilities"?
The "Scheme for Financial Assistance to Integrated Logistics Facilities" under the Gujarat Integrated Logistics and Logistics Park Policy, provides financial support to private developers for creating logistics facilities and parks with the necessary infrastructure and services.
What is the purpose of the "Interest Subsidy" component?
The "Interest Subsidy" component is designed to assist developers by reducing their interest burden on term loans. It is applicable only to new units or projects, enabling developers to improve their financial stability during the project's development phase.
Who qualifies for the "Interest Subsidy"?
Developers of new units or projects are eligible if the first disbursement of their term loan falls within the operative period of the scheme.
Can an existing project apply for the Interest Subsidy?
No, only new units or projects are eligible for the Interest Subsidy scheme.
What happens if a developer is declared a defaulter?
If a developer is declared a defaulter by a financial institution, as per RBI guidelines they are ineligible for the Interest Subsidy.
Does the scheme cover interest payments during the moratorium period?
Yes, interest payments made during the moratorium period are eligible for the subsidy.
How is the subsidy amount determined?
The subsidy amount is calculated based on the actual amount disbursed against the sanctioned term loan.
Can a developer choose the period for receiving the subsidy?
Yes, a developer can select either the period starting from the Date of First Disbursement of the Term Loan or the Date of Commencement of Operation of the project.
What happens if the principal repayment is overdue for more than 90 days?
If the principal repayment is delayed for over 90 days, that duration is not eligible for the subsidy, even if interest payments are made during that period.
Where should developers submit their claim for the subsidy?
Developers must submit their subsidy claims to the IC office along with the required documents.
Is the subsidy available for multiple term loans?
The subsidy applies only to the sanctioned term loan for the specific new unit or project.
What happens after submitting the registration application?
The Industries Commissionerate will scrutinize the application, request missing details within 15 days, and forward it to the concerned District Industries Centre for inspection.
How is the inspection carried out?
The General Manager of the District Industries Centre conducts a site visit and prepares an inspection report.
Who issues the Registration Certificate?
The Industries Commissionerate issues the Registration Certificate after reviewing the inspection report and adhering to the provisions of the GR and guidelines.