To, Lucina Land Development Limited Tower 1, 15th Floor, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013 Kind Attention: Mr. Shishir Priyadarshi & Akshata Khot_ Ref.: Application form dated 15/12/2012, for provisional booking of 3 BHK Residential Apartment bearing no. 45-1005 in residential complex known as Indiabulls-Greens Phase2 at Panvel.

Sub: Exercise of option 1 – “Exit Option” Dear Sir, We refer to the above referred Application form dated 15/12/2012, vide which I/we had made provisional booking of 3 BHK Residential Apartment bearing no. 45-1005 in residential complex known as Indiabulls-Greens Phase 2 at Panvel (hereinafter referred to as the “said Apartment”), with Lucina Land Development Limited (herein after referred to as the ‘Company’) and till date deposited a sum of Rs. 1,705,654/- (Rupees Seventeen lakh five thousand six hundred fifty four only) vide Cheque No.1) RTGS-SBINH13024301192, 2) NEFT -SBINH13025399032, 3) NEFT -SBINH13051155457, 4) NEFT -SBINH13050775263, 5) NEFT -SBINH12363669855, 6) NEFT -SBINH13003716316. dated 1) 24-Jan-2013, 2) 25-Jan-2013, 3) 20-Feb-2013, 4) 19-Feb-2013, 5) 28-Dec-2012, 6) 3-Jan-2013. drawn on State Bank of India Bank and Service Tax of Rs. 52,704/- (Rupees Fifty two thousand seven hundred four Only) which was acknowledged vide receipt No. 1) 29802, 2) 29838, 3) 30896, 4) 30821, 5) 29610, 6) 29611. Dated 1) 24-Jan-2013, 2) 25-Jan-2013, 3) 20-Feb-2013, 4) 19-Feb-2013, 5) 28-Dec-2012, 6) 3-Jan-2013. We understand that due to factors beyond the reasonable control of the Company, at present it may not be possible to have clarity on the tentative date of completion of the Building/Project. In light of the aforesaid, we had discussion with you when we had been provided with following three options: (I) Exit Option – Refund of Deposit Amount with 12% interest from the date of payment till 30th Nov 2014; (II) Switching Option- Transfer of Booking from Phase-II to Phase-I at the original per sq. ft. booking rate, subject to availability; and (III) Option to stay invested in the Project After considering all the three options, I/We have voluntarily decided to exercise the first ‘Exit Option” and to opt out and cancel the provisional booking of said Apartment with your Company by seeking refund of the Provisional Deposit of Rs.1,705,654/- (Rupees Seventeen lakh five thousand six hundred fifty four only) together with simple interest of 12% per annum thereon calculated from the date of its payment till the date of receipt of Provisional Deposit plus the refund of entire service tax paid. We/I confirm that the refund by the Company of an aggregate sum of Rs. 2130118/-

As per the time in delaying they should calculate the money till the cheque date and Refund before the company goes Bankrupt.

Regards,
140476.3.