Infra status gives hotels room to raise cheap funds
The Centre has extended 'infrastructure' status for all hotel projects, fulfilling a long-pending demand of large hoteliers. This means projects with a capital cost of Rs 200 crore or more will be able to access cheaper funds. This will be applicable with prospective effect from the date of modification and available for eligible prospects for three years from the date of notification. The new notification includes convention centres with project cost of more than Rs 300 crores each.