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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  • Originally Posted by Vsammy

    Who knows if 2015 can jump to 2017, how can you trust 2017 possession either?


    The posession date is an issue, however it dosent seem to be open for discussion.

    They have decided that 2017 is going to be the promised possession date, Now its actually take it or leave it for us.

    They do say that the possession might be earlier than promised, thats assuming everything goes smoothly. ( but they very clearly say that they are making no promises in that respect)

    Even they are well aware that many people are investors and are not in immediate hurry for possession, and they dont seem to mind a few who would not agree for such a delayed possession and walk away. There is no "trying to convince etc"
    Either we take it or leave it.

    In a way, its OK i guess.. atleast we know what we are getting into.. and can leave now if the completion date dosent match with the individual requirements.
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  • Originally Posted by Sj2013
    If you want enjoy pre independence era purchase a flat in BR or MP. You will get fair idea of "British Raj".
    Any voice against management will be pressed.
    Sent from my iPad using Tapatalk - now Free


    Thats quite a hardcore stand against township management :)
    But yes I guess it does have its pros and cons..

    However it dosent seem to be as bad as you mentioned, Apart from the township management there are also individual societies being formed.

    And as long as we are not content with just sitting at home, missing even the AGM's etc and only grumbling about things, surely we can deal with any problems faced with the management.
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  • Originally Posted by brres13

    They have decided that 2017 is going to be the promised possession date, Now its actually take it or leave it for us.


    My friend, it was always take it or leave it, and in 99% of the cases, buyers just take it :D
    And the builder knows that 99% of the buyers will take it. Why will they not exploit when buyers are ready to be exploited.
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  • Originally Posted by lazybone007
    My friend, it was always take it or leave it, and in 99% of the cases, buyers just take it :D
    And the builder knows that 99% of the buyers will take it. Why will they not exploit when buyers are ready to be exploited.


    Exploit .. :)
    Well i dont see the point in considering buyers as helpless victims.
    The builder is not here with a vow to help the poor, promote world peace and equality etc etc
    Its each buyers choice to either go in for the project or not, depending on his perception of the merits and demerits of the project.

    No one is forcing anyone to buy anything right.
    Its pure demand and supply.

    Some builder may intentionally exploit and dupe the buyers.. but this situation does not qualify ..
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  • Originally Posted by brres13
    Exploit .. :)
    Well i dont see the point in considering buyers as helpless victims.
    The builder is not here with a vow to help the poor, promote world peace and equality etc etc
    Its each buyers choice to either go in for the project or not, depending on his perception of the merits and demerits of the project.

    No one is forcing anyone to buy anything right.
    Its pure demand and supply.

    Some builder may intentionally exploit and dupe the buyers.. but this situation does not qualify ..


    helpless victims.. to some extent yes.
    - Buying a home is a tedious activity. It is not a decision like choosing between iphone or android. You cannot easily walk away and start your search all over again.
    - Now that have paid 20%, and you do not like the agreement. So can you back out and get all your money back? Builder will deduct some cancellation charge, wont he?
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  • There are no cancellation charges at BR,

    But of course there is some sort of monetary loss if we consider the loss of interest for that amount etc etc.. but seriously, I am not trying to talk about that...
    All I am trying to emphasize is .. when there are lots of other "ready possession" projects available we choose to go and pay the 10% with BR,, without knowing what the agreement will look like ..

    For whatever reason, that may be.. but it is for some self serving motive right !
    So tomorrow if something goes wrong in an under construction project.. In no way would i consider the buyer a helpless victim..

    He/She make their own choice and will either enjoy the benefits of the decision or regret it..

    Where is the question of exploitation in this ?
    Tomorrow I myself will start abusing Mr P from the top of one of his towers if I personally dont get the possession by 2017 !! but It is My choice.. thats all..
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  • I am not able to send any Private Messages. Can somebody please help me out?
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  • Originally Posted by realacres
    Exactly man, they are not ready to remove 2 yr buffer despite delaying date already by 2 yrs. So even if poss date becomes late 2019 or early 2020, you won't have any choice to oppose or fight against builder. That 2 yr buffer clause may haunt BR buyers at later stage, just incase builder fails to deliver on time.

    Btw, didn't anyone ask why delay from 2015 to 2017 ?


    I would not blame the builder for inserting such a clause. No one knows when the supreme court will ban sand mining from the rivers or when some local politican will beat up "outsiders" or when steel companies will face problems due to coal scam. The law mandates the builder to put the possession date in the agreement if that date is not met then the builder is on hook to pay the purchaser compensation.

    If you want to do business in India as a producer of goods and services then you have to insert such clauses cause property rights are weak in India, court cases run for decades and policy changes in a matter of hours and so if the builder is not able to meet the date people are going to take him to court and he/she will spend yrs trying to resolve the case.

    This is another example of too much govt affecting normal people. Now people cant plan with certainly their move in date, when to start looking for furniture to buy, how long to sign the rent lease for etc etc.
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  • Originally Posted by herohiralal
    I would not blame the builder for inserting such a clause. No one knows when the supreme court will ban sand mining from the rivers or when some local politican will beat up "outsiders" or when steel companies will face problems due to coal scam. The law mandates the builder to put the possession date in the agreement if that date is not met then the builder is on hook to pay the purchaser compensation.

    If you want to do business in India as a producer of goods and services then you have to insert such clauses cause property rights are weak in India, court cases run for decades and policy changes in a matter of hours and so if the builder is not able to meet the date people are going to take him to court and he/she will spend yrs trying to resolve the case.

    This is another example of too much govt affecting normal people. Now people cant plan with certainly their move in date, when to start looking for furniture to buy, how long to sign the rent lease for etc etc.


    Hero,

    While one can understand what you have said, it is very convenient reasoning. These are not the real reasons for change in possession date while signing agreement vs what is told while booking. Nor for actual delay in completion and possession (which has been easily running in 2+ years since booking for tons of projects in Pune and elsewhere).

    Won't say much as you yourself have articulated in another thread that RE in India is based on sentiment creation and manipulation.

    For a change, it is good to see that investors are discussing possession date as well as actual possession and other issues. Last so many pages on this thread show this trend change (compared to tons of pages prior to those in last 1 year).

    On a different note:
    The calm and silence on this thread in last few days sounds golden ;);)
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  • Originally Posted by herohiralal
    I would not blame the builder for inserting such a clause. No one knows when the supreme court will ban sand mining from the rivers or when some local politican will beat up "outsiders" or when steel companies will face problems due to coal scam. The law mandates the builder to put the possession date in the agreement if that date is not met then the builder is on hook to pay the purchaser compensation.



    Builder uses buyer's money to construct the scheme. If buyer misses payment date, he has to pay interest at the rate of 21 %. And this will be independent of whether the builder missed dates on earlier milestones or misses on subsequent (as enough buffer is already put in final date). There are no intermediate dates with each milestone that can be tracked for delay

    Those who booked in 2012 are looking at 2017 likely possession when they go to sign agreement after almost a year or more. This definitely does not mean business. Everyone knows that very well. It has nothing to do with material or labor or cement or anything else.

    In fact when such arguments are made by builder, one can not stop laughing, no matter how true those may be at a given point of time :D:D
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  • Originally Posted by pune_friend
    Hero,

    While one can understand what you have said, it is very convenient reasoning. These are not the real reasons for change in possession date while signing agreement vs what is told while booking. Nor for actual delay in completion and possession (which has been easily running in 2+ years since booking for tons of projects in Pune and elsewhere).



    Its a simple rule while buying anything. Dont trust what the salesman says.

    Check the product, ask people who know about such stuff and read the fine print. It surprises me that people buy RE worth lakhs just based on what the sales people in RE companies tell folks when they go to visit the site. There are 1000s of cases where people have invested in farm land or plots based on what the salesman/saleswoman tell them only to later find out that it was all a complete lie.



    Won't say much as you yourself have articulated in another thread that RE in India is based on sentiment creation and manipulation.

    For a change, it is good to see that investors are discussing possession date as well as actual possession and other issues. Last so many pages on this thread show this trend change (compared to tons of pages prior to those in last 1 year).

    On a different note:
    The calm and silence on this thread in last few days sounds golden ;);)


    Yes people buy houses like they buy gold. Both have traditionally gone up in value and even crap houses bought in 1980s are worth crores today cause of the value of land they are built on but people need to be very very careful while buying houses. There is a difference between buying gold and buying a house.

    Its also very +ve that people are discussing possession dates - like u have mentioned - but also that builder are putting in realistic dates in the agreement. Now people can make a informed choice about whether to go ahead with the purchase or not. More transparency should be welcomed.

    Would also like the builder to provide the option to the buyer of transferring the property to a new owner while the construction is going on and the complete set of rules and charges regarding such a transfer. That will enable genuine investors to invest in schemes thereby providing assured cash to the builder and hence hopefully speedy completion of the project.
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  • Delaying the project is a smart choice by builder in given slump...it helps investors too

    Those who booked for end usage might be feeling bad

    For them cancelling the flat and looking for any ready to move flat is advised

    Luckily BR is one of those select builders which allows cancellation without any charges and practically refunds in one month

    Not sure how many builders will do that

    I myself refunded money in 2010 and my smooth experience in cancellation was one of the reason why I reconsidered the project after all the positive changes in lay-out and confirmation that indeed they are building a nice township
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  • Originally Posted by Baruch
    Delaying the project is a smart choice by builder in given slump...it helps investors too

    Those who booked for end usage might be feeling bad

    For them cancelling the flat and looking for any ready to move flat is advised



    Yup. People who want to buy for end use should always buy a ready house.


    Luckily BR is one of those select builders which allows cancellation without any charges and practically refunds in one month

    Not sure how many builders will do that

    I myself refunded money in 2010 and my smooth experience in cancellation was one of the reason why I reconsidered the project after all the positive changes in lay-out and confirmation that indeed they are building a nice township


    One of the best projects in Pune. Has been delayed but for investors it has been a gold mine who were able to lock-in at low prices and pay the money over a span of 3-4 yrs.
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  • Originally Posted by herohiralal
    I would not blame the builder for inserting such a clause. No one knows when the supreme court will ban sand mining from the rivers or when some local politican will beat up "outsiders" or when steel companies will face problems due to coal scam. The law mandates the builder to put the possession date in the agreement if that date is not met then the builder is on hook to pay the purchaser compensation.

    There can be job loss, slow growth, high inflation.....does this give right to buyer to delay payments to builder as these things too are out of control for buyer ? Please explain.
    And yes, if you can't deliver on time, one has no right to be in business. Airlines are classic eg. of this, I prefer Indigo many times over Jet despite being gold privilege member of jet airways.

    Man, as there are many ITGs here, please ask if client will tolerate excuses for delay like pc affected by virus or monitor was not working. :D

    ** Mrs. Watve not responding to critical points indicates that builder is non-committal. Note that email can be considered as evidence in court, hence builders avoid replies in email, but will give on oral reply.
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  • Originally Posted by realacres
    There can be job loss, slow growth, high inflation.....does this give right to buyer to delay payments to builder as these things too are out of control for buyer ? Please explain.


    If the agreement says that the builder is going to provide possession on 1st Dec 2014 and then does not then the agreement should state how much penalty the builder should pay the buyer. Similarly if the buyer does not pay on time then there should be a clause which states how much penalty the buyer should pay.

    The contract should also clearly state how both parties can get out of the agreement. Its should be a proper contract.

    Under construction houses are mostly for investors and not for end-users. End-users should buy completed projects where one can check the construction quality, amenities, infra, recurring costs etc etc.


    And yes, if you can't deliver on time, one has no right to be in business. Airlines are classic eg. of this, I prefer Indigo many times over Jet despite being gold privilege member of jet airways.

    Man, as there are many ITGs here, please ask if client will tolerate excuses for delay like pc affected by virus or monitor was not working. :D

    ** Mrs. Watve not responding to critical points indicates that builder is non-committal. Note that email can be considered as evidence in court, hence builders avoid replies in email, but will give on oral reply.


    The question here is that the builder is putting the possession date which is too far in the future. That is fair according to me. The builder is liable for a penalty if they miss the deadline. The builder is saying that they cant complete the construction before that date. Buyer can buy the flat with this builder or opt for another project. Atleast the builder is not lying in the agreement and then threatening the buyers who ask for their money back. No one is forcing the buyer to buy a flat where the possession date is in 2017.

    Read posts on this thread on how this builder has given back the money to the buyer who wanted to cancel. Such actions should be encouraged but also more transparency around responsibilities and deliverables should be asked for from the builder in the agreement but one cant ask the builder to provide the goods at an earlier date if the builder has clearly given a date in the agreement on which the buyer has signed.

    In all these cases both the buyer and seller should have access to fast legal advice and legal ruling from the courts to solve legal disputes. A proper free markets requires a fair and fast legal mechanism.
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