The house should be owned by the borrower, suitably located and having a motorable approach. The house should not be more than 15 years old.
Proper registration with the Tourism Department, J&K Government, and permission for the conversion/ renovation/ refurbishment from Municipality/ concerned authority, wherever necessary. - The guest house should be managed by the owner himself. - The prospective borrower required to submit proper estimates/project report for the renovation/refurbishment plan for the proposed guest house to assess the viability.
The renovation/refurbishment should be completed within a period of three months from the date of first disbursement. - The existing hotels/guest houses already registered with the Tourism Department not come under the purview of this scheme.