Monday, April 23, 2012

Unit provisionally allotted to you at Jaypee Greens Wish Town, Noida

23.04.2012

Dear Sir/Madam,

Unit provisionally allotted to you at Jaypee Greens Wish Town, NOIDA

This is further to our letter/email sent to all our customers during December 2011/January 2012 (copy attached for ready reference), where we had stated that over the past one year we have been engaging with a wide cross section of customers to garner their feedback and experience. As part of this exercise, we are undertaking certain pro-active steps to provide you with a richer and fully satisfying customer experience.

As you are aware, the Wish Town Project is being developed as a fully fledged Integrated Township at Jaypee Greens, Noida, spread over about 1100 Acres (440 hectares) complete with modern amenities like shopping facilities, hotels, Super Specialty Hospital, Engineering College, Schools and the like; besides sports facilities including Golf Course and other games and sports. We are taking special care to ensure power and water supply systems, a good road network, sewer treatment plants, etc. as per superior standards.

It has been our endeavor to develop the Project and offer the Units to our valued customers and, in fact, all our activities were planned to meet the timelines. However, despite our best efforts, various reasons beyond the control of the Company, intervening since commencement of the Project, have resulted in time overruns.

Valuing our relationship with our customers and notwithstanding the incidence of cost escalation on us or the fact that the terms of allotment do not obligate us to do, we have decided, purely as a gesture of goodwill to our valued customers, to rework some of the terms of the allotment and give effect to the same which are detailed hereunder:

  1. Interest rate: With effect from 01 April 2011, interest will be charged on any delayed payment beyond the -Due Date” of any installment payable by the Allottees @ 12% p.a. as against @ 18% p.a specified in the standard terms and conditions of the Allotment and agreed by the individual allottees. You may also be aware of the fact that we give an Early Payment Discount (EPD) @ 12% p.a. for any amount paid by you in advance of its Due Date. This EPD will continue as hitherto

  2. The allottees of houses and apartments who have paid the due amounts under Down Payment (DP) Plan or Partial Down Payment (PDP) Plan can, if they so desire, convert their payment plan to Construction Linked Plan (CLP) from the date of the Provisional Allotment Letter. On exercise of this option, the DP discount or PDP discount earlier offered will be withdrawn and the payment plan will be converted to CLP ab initio. Various amounts paid will be adjusted at the stage of Construction and the excess amount at each stage will be entitled to Early Payment Discount (EPD). This step will bring the DP/PDP customers at par with CLP customers.

  3. However, in case the customers have made payments under DP/PDP with loan from any bank, the request for change of Payment Plan as above shall be processed only after submission of a NOC from their lending bank.

Kindly note that these measures have already been agreed with various allottees during our meetings with them since April 2011. Accordingly, the reduction in rate of interest to 12% p.a. has been implemented and the changeover of payment plan from DP/PDP to CLP is also being made for customers, who have requested for the same.

Further as suggested by some customers, we have decided to make available a construction and delivery schedule on our website (www.jaypeegreens.com) by 30th April, 2012 and the same will be periodically updated.

We thank you once again for showing faith and confidence in the project and needless to say that this project cannot be completed without your continuous support and cooperation.
Thanking you,
Yours faithfully,
Prem Prakash
Senior Vice President
 
All queries pertaining to your respective projects can now be sent on the following email IDs:-
 
For Kalypso : kalypso@jalindia.co.in, Imperial : imperial@jalindia.co.in, Townhomes: townhomes@jalindia.co.in, Kingswoodoriental: kingswoodoriental@jalindia.co.in, Knights court: knightscourt@jalindia.co.in, Wish town Klassic: klassic@jalindia.co.in, Pavilion Heights / Court: pavilion@jalindia.co.in, Kosmos: kosmos@jalindia.co.in, Kube: kube@jalindia.co.in, Augusta Town Homes: augustatownhomes@jalindia.co.in, Aman: aman@jalindia.co.in, Kasa Isles: kasaisles@jalindia.co.in, Kensington Boulevard: kensingtonboulevard@jalindia.co.in, Kensington Apartments and Heights: kensingtonapartments@jalindia.co.in, Kensington Plots: kensingtonplots@jalindia.co.in, Country Homes: countryhomes@jalindia.co.in, Kassia: kassia@jalindia.co.in, Lake District: lakedistrict@jalindia.co.in, Krowns: krowns@jalindia.co.in, Orchards: orchards@jalindia.co.in, Krescent Homes: krescenthomes@jalindia.co.in, Plots Sec-128: plotssec128@jalindia.co.in
 

Enclosure

18th January, 2012

Jaypee Greens Wish Town, Noida

 

We thank you for imposing your confidence in Jaypee Greens. Your trust and confidence is the very foundation on which we stand and this has given us the impetus to develop a modern township at Jaypee Greens, NOIDA, covering about 1100 acres-complete with amenities and facilities as required for a comfortable lifestyle including Shopping Malls, Hotels, Super Specialty Hospital, Engineering College, Schools and the like; besides sports facilities including Golf Courses and the other games and sports. You will appreciate that building such an integrated township for the first time is inextricably linked to the unflinching support and co-operation of our valued customers.

The purpose of this letter is to keep you informed that over the past one year, we have been engaging with a wide cross-section of customers to garner their feedback and experience as members of the Jaypee Greens family. Based on this feedback, we have initiated various measures to mitigate concerns in relation to our customers, delivery and to further improve upon. Details of these new initiatives will be communicated to you shortly.

In the meantime, we wish to reiterate that we are fully committed to our customers and wish to assure you of our full co-operation at all times.

With warm regards and best wishes for a Happy and Prosperous 2012!
Yours Faithfully
Prem Prakash
Senior Vice President
Sales & Marketing
Jaypee Greens
 

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