Hi All ,

I hear that the Blue Ridge Phase II is not doing well. Anyone having any updates on this scheme? What is the possession date for phase II? Heard a lot of cancellations have been happening there any idea please update.

Thanks in advance.
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  • The price list is now updated after the recent rate hike at BR

    Blue Ridge | Flat : Price Details | By Paranjape Schemes (Constructions) Ltd.
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  • Hi all,

    I have bought resale flat in Tower 6 in last month and got possession in this month . Paid around 76.5L for 2 BHK ( 1335Sq feet ), very happy with over all though !

    Tower 5 and Tower 6 are starting , I think they are over with possessions of almost 50% of flats. I think in tower 6 , around 12-15 families has started living too !

    I have few questions though !

    1. I have not been asked for Maintenance charges yet? I am not sure if earlier owner has paid first 6 months of maintenance or not ?
    2. I have not been given Society membership form yet !
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  • Originally Posted by solidstate
    Hi all,

    I have bought resale flat in Tower 6 in last month and got possession in this month . Paid around 76.5L for 2 BHK ( 1335Sq feet ), very happy with over all though !



    hi solidstate, is it 76.5 all inclusive or 76.5 + ~8%?. Thanks.
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  • Hi Livemore ,

    76.5L + 4.5L ( Registration , agent commission (1%) etc ) so total 81L ! If I would have booked the flat in T20-T23 , it would have cost me same but would have got possession after 2-3 years , Hence I decided to go with Resale !

    (BTW, if anyone is interested , earlier Owner booked the flat in prelaunch offer in 2007 , he paid around 42L in multiple installments as construction was moving along , and finally solid it to 76.5L (1L to Builder for NOC purpose ) )
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  • Thanks for posting the price from 2007. Helps validate that these investments don't outperform for those accounting in USD. This should help increase availability for genuine users.

    42L = $105,000 (@1USD=40INR)
    76.5L = $127,500 (@1USD=60INR)

    Return from 2007-2013 = ~3% per year.
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  • Hi Livemore ,

    76.5L + 4.5L ( Registration , agent commission (1%) etc ) so total 81L ! If I would have booked the flat in T20-T23 , it would have cost me same but would have got possession after 2-3 years , Hence I decided to go with Resale !

    (BTW, if anyone is interested , earlier Owner booked the flat in prelaunch offer in 2007 , he paid around 42L in multiple installments as construction was moving along , and finally solid it to 76.5L (1L to Builder for NOC purpose ) )

    First of all, congrats on your new house purchase man. :)
    I must say that you took good decision by buying ready possession flat, it has indeed saved you lot of future headache. Good to see that.

    Thanks for posting the price from 2007. Helps validate that these investments don't outperform for those accounting in USD. This should help increase availability for genuine users.

    42L = $105,000 (@1USD=40INR)
    76.5L = $127,500 (@1USD=60INR)

    Return from 2007-2013 = ~3% per year.

    Good, thanks for the same. And if you add up newer taxes which have been introduced in last couple of years like service tax, VAT, TDS, hike in stamp duty etc. the returns will be even less than 3%/annum.
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  • Originally Posted by amitjj
    Thanks for posting the price from 2007. Helps validate that these investments don't outperform for those accounting in USD. This should help increase availability for genuine users.

    42L = $105,000 (@1USD=40INR)
    76.5L = $127,500 (@1USD=60INR)

    Return from 2007-2013 = ~3% per year.


    True...but...:-)...didin't out-perform what ?
    For those who account in USD...which investment in India (with similar safety of capital) would have out-performed a "2007 Blue Ridge investment" ?

    Even equiped with a convenient hindsight bias .....we may have to search hard to come up with solid answers.
    I would also argue that, the same answers more than likely will flunk another 7-year test (out-perform a "2007 BR investment" in dollar terms while assuring safety of capital) ending in 2020.
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  • Originally Posted by Superduper
    True...but...:-)...didin't out-perform what ?


    The DJIA.
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  • Originally Posted by amitjj
    The DJIA.


    The Q was about investment options in India...and that too with similar risk profile.
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  • Why would an investor be limited to India? And investing in the stock market would be far more liquid in case funds are needed in a hurry.

    In fact the low returns are probably why the rich are investing outside India.

    Indians bought $3.5 billion US realty in year ending March 2013
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  • Originally Posted by amitjj
    Why would an investor be limited to India? And investing in the stock market would be far more liquid in case funds are needed in a hurry.

    In fact the low returns are probably why the rich are investing outside India.

    Indians bought $3.5 billion US realty in year ending March 2013


    You are right Amit....no one is restricted to investing in Indian RE.

    My only point was, if we are going to compare one investment vehicle with the other, differences between them ( other than just % return during a selected period ) are also important to note.

    The practice of capital allocation between different kinds of assets (i.e. diversification) stems from this simple observation.

    Also...another 7-year test ending in 2020....will have shown us yet another color of investment world.....and logic of a common person today can't predict what that color is going to be.
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  • Originally Posted by solidstate
    Hi Livemore ,

    76.5L + 4.5L ( Registration , agent commission (1%) etc ) so total 81L ! If I would have booked the flat in T20-T23 , it would have cost me same but would have got possession after 2-3 years , Hence I decided to go with Resale !

    (BTW, if anyone is interested , earlier Owner booked the flat in prelaunch offer in 2007 , he paid around 42L in multiple installments as construction was moving along , and finally solid it to 76.5L (1L to Builder for NOC purpose ) )


    Thanks so much for the reply
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  • Originally Posted by Superduper
    The Q was about investment options in India...and that too with similar risk profile.


    DJIA 1-Jun-07 = 13668
    DJIA today - 15512

    translates to net return of 2.13% per annum

    Assuming you are an indian investor who spend INR 42L in 1-jun-2007 --> INR 76 in 1-jun-13, translates to net return on 10.4% per annum.

    Assume you are Indian investor, who is also leveraged. In 2007 loans were available at around 8%, you pay a downpayment of 20% and rest you pay 10% every 3 months, get all the loan from bank and just pay Pre-EMI till possesion. With some assumptions around payments dates, investors outflow would have been around 24.5 lakhs over the 6 years and he would have got a net profit of 45.9 lakhs on sale, which translates to 16.9% per annum.

    More importantly for an end user, buying at 42 lakhs 6 years ago (payments straddled over 3-4 years) would have been buying at 76 lakhs now , I would have been much happier if I had bought earlier...

    magar wo ho na saka aur ab ye aalam hai :), I would have been much happier if I had bought earlier...

    magar wo ho na saka aur ab ye aalam hai :)
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  • Originally Posted by amitjj
    The DJIA.



    Amit,

    For a USA person,

    Putting lump sum $105K in DJIA index (mid-13K then to mid-15K now) would have netted ~2% (as per livermore's correct calculations) annualized till now.

    Putting same lump sum equivalent INR in 2 BHK at BR has netted ~3 % (as per your correct calculation) annualized over same time period.

    Putting same $105K as 20% (and borrowing $400K) to buy a house in USA in mid-2007 would have done WHAT to our returns !!! hope everyone here knows that :-)

    Lo and behold.....as it turns out....in mid-2007 even US investors were soundly better off investing in BR than buying DJIA index (that's not even withstanding differences in risk profiles) and far better off investing in BR than buying some random house in a metro of USA !



    Anyway..point is.......in mid-2007 no one (could have) predicted that ...over next 6 years,
    what a roller-coaster-ride DJIA was going to go through....
    and (quite counter intuitively) which way and to what extent the balance of USD to INR was to swing!!!

    I would also add...
    guys on the forum (me and you included),
    talkers on CNBC
    and experts advising wealthy Indians ( to invest in US real estate..as per the TOI write-up)…
    do not have a clue as to what’s going to happen to DJIA-Sensex or to USD-INR in next 6-7 years.

    My last post on this topic.

    @realacers.....prices posted by Paranjape are usually inclusive of all extra charges.
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  • Originally Posted by Superduper
    Putting lump sum $105K in DJIA index (mid-13K then to mid-15K now) would have netted ~2% (as per livermore's correct calculations) annualized till now.


    Exactly, no disagreements there. But the transaction cost for currency conversion is itself 2% (1% for each leg), which means that this investment had to return another at least another 1% to even be comparable.
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