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Subsequent disbursement or Tranche Disbursement Request is made by builders who have provided a Construction Linked Payment plan (CLP) facility for their under construction properties. In other words, the disbursement is requested in parts or tranches out of the total loan amount. Disbursement is requested by the builder on reaching a certain stage of construction of property. The stage of construction is pre-agreed between the builder and the customer. Customers opting for construction linked payment plan pay EMI only on the disbursed amount.
Subsequent Disbursement Request is only applicable to those customers who have booked an under construction property under Construction Linked Payment Plan (CLP).
Tata Capital will verify the stage of construction, payment of customer’s contribution, overdue status of customer’s loan account etc. before making the disbursement to the builders account. Tata Capital reserves the right to reduce the amount of disbursement or reject the request on account of non-fulfilment of the requirements for disbursement.