Circular

We are extremely happy to inform you that finally we have initiated the process of acquiring a piece of land right next to our Goverdhan Eco village for the benefit of our congregation. The plan is to, once the acquisition is completed, subdivide this land into several plots to be given to the members of the congregation for them to construct their individual houses. The process of acquiring the land could take a year or two to be completed maybe even longer. Once the process of acquisition is completed, the subdivision of the land into plots, getting electric and water connections etc. will commence and this process could also take a few months to a year. Therefore, we are requesting only those devotees, who would be willing to wait for the subdivision of the land to be completed, to apply for shares in this company. To summarize, the process from acquisition of land to plotting and providing electricity and water connection could take two to three years. Construction on the plots allotted could take another one to two years. Terms and conditions: Those of you who may be interested in participating in this project would need to note the following: 1. The ownership of this land would vest in a private/public limited corporation (the corporation) and the congregation members would become shareholders of this corporation. 2. The basic criteria for participation in this project are that the devotee applying should be a member of ISKCON, connected with Radha Gopinath Mandir and its extended arms, following the four regulative principles and dedicated to the mission of Lord Sri Caitanya Mahaprabhu. 3. It is expected that each plot will be of 2000 sq. ft. The exact dimensions may vary from plot to plot, which would be clear only when the actual plotting is completed. The present FSI in Wada is 0.75 which means that a house of around 1500 sq. ft can be constructed on one plot. A current estimate for a 1500 sq. ft house is Rs 30 lacs. We expect that the devotee applying for the land should have the means to construct the house on the land. This Rs 30 lacs would be payable in stages every month over a period of twelve to eighteen months once the construction on the plot begins. The houses that a shareholder would construct would need to abide by the directives of the corporation with regard to the overall Goverdhan farm look. To keep consistency and standardization in terms of look and feel of the facility, the architect and the construction company would be finalized by the Directors of the corporation. 4. Each plot of land would represent one share in the corporation. 5. The cost of the land is Rs. 300 per sq. ft 6. We are initially collecting Rs. 6 lacs for each plot of land. The final figure may alter depending on the exact area offered to each shareholder (see point 3 above). 75% of the amount is payable, along with the application by way of a pay order/DD favoring ISKCON CHOWPATTY payable at Mumbai. Once the corporation is registered, balance 25% would be payable to the corporation.. 7. The corporation would be responsible to provide to each plot of land, an electric and water connection.

8. In view of the fact that we have limited number of plots, normally only one plot would be allotted to one family. However in the event that all the plots are not taken up within sixty days of launching the project, devotees will be permitted to apply for additional plots. 9. The shares can be transferred only to another member of the congregation as is approved by the Board of Directors of the Corporation. The price at which the shares can be transferred will be announced at the beginning of each financial year to the shareholders. The shares can be transferred only at this price. 10. The corporation would be managed by a Board of Directors. 11. The corporation would maintain all the common areas such as gardens, internal roads etc. for which a monthly maintenance charge would be levied on each shareholder. The date for the commencement of the monthly maintenance charge would be announced. Thereafter, this monthly maintenance charge would be payable by a plot owner even if there has been no construction carried out on his plot. 12. The project is intended to be for the devotees of good spiritual standing in Radha Gopinath Mandir, Chowpatty and its extended arms. In the event that any devotee or their descendent, after he becomes a shareholder, ceases to be, in the opinion of the Board of Directors, a devotee of good standing, he has to surrender his shares immediately to another member and cease to be a shareholder. The Board of Directors will ensure that he is compensated as per point no. 9 above within 6 months from the time he ceases to be a shareholder. 13. The allotment process for allotment of the land to the devotees shall be done thru the process of lottery. Also, in the event that the initial number of applicants exceed the number of plots available, selection of the applicants will be done based on lots. 14. One or more devotees may wish to come together to jointly own one share. This is permissible in which case all the devotees would be treated as joint shareholders. Transfers would require the consent of all the joint shareholders. 15. In all matters connected with the management of the corporation, the decision of the Board of Directors will be final.

I agree to the above terms and conditions. Please find enclosed herewith DD/PO No. dated for Rs. 4,50,000 drawn on (name of the bank) payable at Mumbai.

(Name and signature of applicant)

Date:

(This form should be submitted to the accounts office along with the attached application form and Demand Draft/Pay order and acknowledgement taken)

Form Serial No.

Date

FORM TO BE COMPLETED BY ALL PERSONS APPLYING FOR THE HOUSING SCHEME AT WADA

1. NAME 2. INITIATED NAME 3. YEAR OF INITIATION 4. INITIATED BY WHOM 5. CONNECTED TO WHICH TEMPLE 6. CONTACT NUMBER: MOBILE 7. CONTACT NUMBER:RESIDENCE 8. CURRENT ADDRESS

_____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________

NAMES OF REFERENCES IN MUMBAI

A)____________________________________________ B)____________________________________________ C)____________________________________________

SIGNATURE DATE

_____________________________________________ _____________________________________________

ACKNOWLEDGEMENT Serial No. Received DD/Pay order No. Date dated for Rs. 4,50,000/Name & Signature