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Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

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Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

Last updated: August 7 2017
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  • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

    Originally posted by theinvincible View Post
    I did some analysis long time back comparing the returns on a commercial property or residential. I found commercial more attractive in terms of continuous cash flow. Again the assumptions taken by me would vary from person to person.

    Commercial Flat in Pune Flat in Tier II City
    Property Value 3000000 5000000 3500000
    Loan 80% 2400000 4000000 2800000
    ROI of Loan 13% 10.50% 10.50%
    EMI 35000 49000 29000
    Rent expected monthly 20000 15000 7000
    Monthly burden on us 15000 34000 22000
    Rent expected Yearly 240000 180000 84000
    Income on Property Value 8.00% 3.60% 2.40%
    Property Appreciation after 5 years 4000000 6500000 5000000
    Total Gains at the end of 5 years 2465224 2598918 2012828.4
    Gain in % 82% 52% 58%

    Hi Invincible,

    My question was very specific to blue ridge, but appreciate all the details you have provided. Definitely food for thought.

    On decision of whether to go for residential or commercial one, I think it makes more sense to buy commercial if one is buying commercial space in an area which doesn't have too much space for new shops to come in, otherwise supply may outrun demand e.g. I see plenty of open spaces still in pimple saudgar. To me residential in a good area, good scheme should be a safer bet than commercial.

    My budget is around 40 max and target is to sell this off if I get around 20-30% returns in about 4-5 years max, otherwise continue with Rental.

    I have been looking for areas in Pune and also in relatively remote place like Boisar, Shil Phata etc, but I think Blue Ridge is a better shot than what I have seen so far, hence tilted towards finalizing this.

    However I had not given much thought to the "investor" factor to Blue Ridge, so thanks for pointing it out. Do you think there are better schemes in my budget?

    Comment


    • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

      Originally posted by pnq2012 View Post
      Do you know what is the preferred water purification system that we need to install at home? I have got mixed suggestions. We were thinking of installing Kent RO Purification System but was told that it may not be necessary at BR because the water source is the river. RO systems are better suited for bore-well water & we were recommended to use a simple typical purification system.

      I may consult a water analysis firm to run water tests & provide suggestions before we move in but thought check with you too.

      Thanks
      RO systems are required when there is hard water as the source typically borewell... However in case of BR there are already multiple steps taken for purification... so UV based filter should be sufficient... Same was confirmed by some neighbors who did water analysis... although I have a RO based system at home...

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      • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

        Originally posted by mp_pune View Post
        My budget is around 40 max and target is to sell this off if I get around 20-30% returns in about 4-5 years max, otherwise continue with Rental.

        I have been looking for areas in Pune and also in relatively remote place like Boisar, Shil Phata etc, but I think Blue Ridge is a better shot than what I have seen so far, hence tilted towards finalizing this.

        However I had not given much thought to the "investor" factor to Blue Ridge, so thanks for pointing it out. Do you think there are better schemes in my budget?
        Hi Milind,
        20-30% appreciation over 4-5 years is a reasonable expectation. One more analysis you should do is based on the source of funds.

        If the funds are self generated then FD should give equivalent or more returns considering 9 % compounded returns excluding tax.

        If the source of funds would be banks then the impact of interest paid during the 4-5 years of wait duration should be considered. eg If the flat costs 40L and you source 32L from a bank at 10.5%. During 5 years you would have paid 15L towards interest part and 3.5 or 4L towards principal. After 5 years if you sell the flat at 60L, bank will take back remaining principal i.e. 28L and you will have 32L with you out which amount spend by you would be 15L interest + 8L initial investment. So effective gains would be 9L on investment of 8L in 4/5 years.

        I am not trying to discourage you from buying but request you to do thorough analysis before buying. Anyways my calculations are hypothetical and may not be the correct way to calculate. I read some reports that real estate prices would double in Hinjewadi in next 5 years. So that variable is beyond my capability to predict and all the above calculations will go for toss.

        I haven't been tracking real estate market so have no knowledge about any other projects or areas.
        Last edited by theinvincible; April 30 2013, 03:59 PM.

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        • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

          Thanks for your help

          - milind

          Comment


          • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

            Originally posted by theinvincible View Post
            Hi Milind,
            20-30% appreciation over 4-5 years is a reasonable expectation. One more analysis you should do is based on the source of funds.

            If the funds are self generated then FD should give equivalent or more returns considering 9 % compounded returns excluding tax.

            If the source of funds would be banks then the impact of interest paid during the 4-5 years of wait duration should be considered. eg If the flat costs 40L and you source 32L from a bank at 10.5%. During 5 years you would have paid 15L towards interest part and 3.5 or 4L towards principal. After 5 years if you sell the flat at 60L, bank will take back remaining principal i.e. 28L and you will have 32L with you out which amount spend by you would be 15L interest + 8L initial investment. So effective gains would be 9L on investment of 8L in 4/5 years.

            I am not trying to discourage you from buying but request you to do thorough analysis before buying. Anyways my calculations are hypothetical and may not be the correct way to calculate. I read some reports that real estate prices would double in Hinjewadi in next 5 years. So that variable is beyond my capability to predict and all the above calculations will go for toss.

            I haven't been tracking real estate market so have no knowledge about any other projects or areas.
            Hi

            I am also planning to buy 1BHK in BR just to investment to get good return.

            I have few question like :

            What rent we can expect in BR for 1BHK in 2016 ? ( Possi will be in 2016 )
            What would be costing of these flat till 2016 ?
            If i plan to keep this property for at least 5 yrs after possession then what appreciation i can expect ?
            These property come under which : PMC or any ?
            Any suggestion for 1BHK in BR ?

            Builder quote me 34Lac + Reg + Stamp + Vat + Serve Tax = 38 Lac.

            Thank you

            Comment


            • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

              Originally posted by prabhat19 View Post
              Hi, I am planning to buy 2BHK in tower 23. It is going to cost me 80Lcomes aroung 7K per qft. Please advice. Also This is so interior in hijewadi IT part that I am confused.
              I'm also confused on why 2 BHK in tower 23 costs you 80L. From the BR website, T23 2 BHK area is 1016 sq. ft, which I believe is carpet area. Even if we apply the rate of 5400/ sq. feet for golf facing flat, the agreement cost will be around 59L (including parking and infrastructure). With registration, stamp duty, s. tax and VAT, you add another 5% and the price should be 62L or 63L. So how is it 80L? Am I missing anything or calculating it wrongly?

              Comment


              • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                Originally posted by pnq2012 View Post
                I'm also confused on why 2 BHK in tower 23 costs you 80L. From the BR website, T23 2 BHK area is 1016 sq. ft, which I believe is carpet area. Even if we apply the rate of 5400/ sq. feet for golf facing flat, the agreement cost will be around 59L (including parking and infrastructure). With registration, stamp duty, s. tax and VAT, you add another 5% and the price should be 62L or 63L. So how is it 80L? Am I missing anything or calculating it wrongly?
                Its because 5400/- rate is for super built up area and not the carpet area. Super built-up area comes to 1335 sq. ft. and Golf facing flat at 5400 per sq ft comes as 80 lacs.

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                • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                  1016 sft is the carpet area. Add 30% loading which makes the saleable area as 1321 sft. Golf facing is currently priced at Rs. 5400 psft upto the 7th floor and after which there is Rs. 25 psft floor rise. So, upto the 7th floor, inclusive of all costs, the cost is approx Rs. 80L.
                  Last edited by MansaBandra; May 2 2013, 09:54 AM.

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                  • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                    Best cell phone service provider for blue ridge area.

                    I understood from others that there is very bad cell phone reception in the Blue Ridge complex. I'm assuming that this is only for certain providers. For those residing there right now, can you recommend a good service provider for which reception is good in BR? I'm visiting there in June and would need to use my cell a lot.

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                    • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                      Originally posted by fnln510 View Post
                      I understood from others that there is very bad cell phone reception in the Blue Ridge complex. I'm assuming that this is only for certain providers. For those residing there right now, can you recommend a good service provider for which reception is good in BR? I'm visiting there in June and would need to use my cell a lot.
                      I have Idea Cellular and never had any issues. I get good signal strength. You should also check with the management staff who work there.

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