Developers Township Property Owners Welfare Society

(DTPOWS)
505, Hemkunt Chambers, 89 Nehru Place, New Delhi -110 019
October 17, 2014
Mr. Manoj Gaur,
Executive Chairman and CEO
Mr. Sameer Gaur, Mr. Sachin Gaur,
Mr. Ajeet Kumar, Mr. R. K. Anand
Jaiprakash Industries Limited
Jaiprakash Infratech Limited
Jaypee Wish Town
Sector 128,
NOIDA
Dear Sirs,
We would like to introduce ourselves as a registered society
consisting of buyers of your Wish Town Noida properties.
All of us had invested in your projects believing in the reputation of
high quality projects and timely delivery, built up by your founder
Chairman Shri Jai Prakash Gaur Ji over his lifetime. All of us being
actual users, wanted a home for our families in one of the better
built townships in NCR, but very sadly you and your company has
failed us very badly due to no delivery, cost escalation and other
various factors.
We the customers of Wish Town are now the principal stakeholders
of its properties. On behalf of our members across all projects of
Wish Town and as principal stakeholders, we now put forth our
concerns and demands before you.
1. Late Delivery: Nearly all of your projects in Wish Town Noida
are running behind schedule causing us immense hardships,
financial loss and mental agony. Even the projects sold as
early as 2007 are nowhere near completion and you have not
shown any urgency or planning to have the projects
completed quickly. The fact that even after 7 years and
collecting thousands of crores from your customers, you have
not been able to house even 70 families speaks volumes
about your mis-management of affairs. Nearly all of us are
facing acute financial losses due to high bank interest and
rent payments and also mental agonies due to facing irate
landlords or frequent shifting of rented houses.
We had paid money to you to build our houses but you have
utilized the amount elsewhere and not for its intended use for

reasons best known to you leaving all of us in lurch. We

understand that you are now facing acute financial shortage
due to which contractors and suppliers have not been paid
and the construction is held up across Wish Town Noida. We
also know that your companies are sinking under loans of
nearly Rs.50,000 crores and you are trying to sell some assets
to reduce the loan and interest burden.
We now demand that you reserve and allocate an amount of
minimum of 20% of all your sales proceeds towards
completion of stalled projects of Wish Town Noida only. This
money should not be used for any other purposes. As soon as
you start completing the projects, you will start getting
balance payments from customers. Your new bookings and
property rates will also increase, as customer confidence in
Jaypee will improve. All this will result in all round
improvement including your cash flow and company
reputation.
2. Our members are suffering substantial financial losses due to
late delivery of properties in Wish Town even after having paid
up to 95% of the property costs. The late delivery penalty
being offered by you @ Rs. 5 or Rs 10 per sq. feet per month
are not adequate to cover our financial losses due to interest
and rents being paid by us. So we demand late delivery
penalty @ 12% per annum on the entire cost of the property
for the delayed period beyond the committed delivery time.
3. You have also been demanding super area increase up to 10%
for the apartments nearing completion. This is like adding
insult to injury.
As per the U. P. Apartment Act, any changes beyond the
specifications and building plans as per our allotment letters
should have been communicated to all the apartment buyers
and our consent for the same should have been obtained prior
to starting construction. Even some minor changes or
alterations as may be necessary due to architectural and
structural reasons duly recommended and verified by
authorized Architect or Engineer should have been made after
proper declaration and intimation to the owners.
As no changes in building plans were ever communicated to
any of us in writing, after the allotment letters and
consequently no consent was ever obtained from us for
increase in super area, therefore we are not liable to pay for
any increase in super area and we reject this illegal demand
from your company.

4. The planning of interiors, fixtures and fittings was done a long

time ago, in some cases even as far back as 2006, which has
now become out dated. The same should be revised to include
the modern specifications and items as per the current norm.
We can discuss this point further project wise later.
All of us had invested in Wish Town with great hopes and still wish it
to become the best town ship in NCR as we wish to live here. We do
not wish to adopt a confrontationist attitude, if you appreciate our
point of view also. You also have a commercial, moral and social
obligation to deliver our houses soonest possible.
We request you to change your approach to a more customer
centric one by accepting our above-mentioned just demands and we
will also extend our full cooperation in making the Wish Town Noida
a success story.
Thanking you and looking forward to an early reply,
For Developers Township Property Owners Welfare Society
Arvind Jain
President
+44 7518 411215
president@dtpows.com