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To establish a selection criterion of high temperature superconducting (HTS) tapes for their possible application in superconducting fault current limiters (SFCLs), it is required to have high critical current density, high `n' value, high normal state resistance, low AC losses, large heat transfer area, high thermal diffusivity and quick recovery against thermal instabilities for the HTS tapes. At present HTS tapes are categorized into two types namely Bi2223 based 1st generation (1G) HTS tape and YBCO based 2nd generation (2G) coated conductors (CCs). These 1G and 2G tapes are composite tapes. Hence, it is required to know their averaged material properties that can affect the performance of the SFCL during normal state operation. This paper deals with these issues along with DC characterization results to establish selection criteria of HTS tapes for SFCL applications.