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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  • For those who have gone ahead with the registrations of flats in T20 - 24 , can someone share the contents of the so called "comfort letter" that BR has issued?
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  • Couple of months back a broker had called for 3BHK distress sale at blue ridge, area around 1400 sqft and possession in 2016 quoting 73 L negotiable. I was not interested
    in hinjewadi so did not even consider.



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  • Originally Posted by realpune
    Couple of months back a broker had called for 3BHK distress sale at blue ridge, area around 1400 sqft and possession in 2016 quoting 73 L negotiable. I was not interested
    in hinjewadi so did not even consider.



    Sent from my Q800 using Tapatalk


    That would have been a bad purchase for the buyer, because Paranjape policies allow for resale of underconstruction unit, only after payment of full 100% amount upfront, even if the construction linked payment due is only 10%. So you would have lost tremendous amount of interest income on the full amount for the 4-5 year period.

    Please share, if Any other sale or resale offer currently in the market that any one is aware of? > this would give some kind of trend in the market.

    1.5 months back, my friend had negotiated a 2bhk unit for around 73.5L, it was on the medium level floor, golf course facing. Though the deal did not go through, as the seller was asking for a lot of black component. for around 73.5L, it was on the medium level floor, golf course facing. Though the deal did not go through, as the seller was asking for a lot of black component. for around 73.5L, it was on the medium level floor, golf course facing. Though the deal did not go through, as the seller was asking for a lot of black component.
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  • I think the possession year was 2015 and not 2016 as I mentioned earlier. Don't remember exactly.

    What I remember is seller made almost 75-80% payment already. So one should have 20 % extra ready for down payment. Precisely this is what happens in uc property where builder gets 85% payment from you n keeps u stuck for 1·5 years! So this was much better deal. This was all white deal.

    On asking the broker, about why this distress sale, he told that the Mumbai investor is getting very good deal and hence wants to liquidate BR flat immediately.

    Hinjewadi, Wakad are fully of such Mumbai investors who have bought in Pune to hedge against price rise international RE. Once realtors in Mumbai start offering attractive deals, we should see more such investors selling in distress. Read today Orbit is expecting 20% correction in Mumbai.

    I am not tracking BE as such. Talking about trend, the prices are being artificially increased by 10% every 6 months. I doubt if any sale is actually happening. Buyers have completely lost interest and not even stepping out to enquire. Visited couple if projects on Sunday in Diwali, found the offices deserted with no enquiries. Worst festive season for Pune in decade according to a broker.





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  • Originally Posted by realpune
    I think the possession year was 2015 and not 2016 as I mentioned earlier. Don't remember exactly.

    What I remember is seller made almost 75-80% payment already. So one should have 20 % extra ready for down payment. Precisely this is what happens in uc property where builder gets 85% payment from you n keeps u stuck for 1·5 years! So this was much better deal. This was all white deal.

    On asking the broker, about why this distress sale, he told that the Mumbai investor is getting very good deal and hence wants to liquidate BR flat immediately.

    Hinjewadi, Wakad are fully of such Mumbai investors who have bought in Pune to hedge against price rise international RE. Once realtors in Mumbai start offering attractive deals, we should see more such investors selling in distress. Read today Orbit is expecting 20% correction in Mumbai.

    I am not tracking BE as such. Talking about trend, the prices are being artificially increased by 10% every 6 months. I doubt if any sale is actually happening. Buyers have completely lost interest and not even stepping out to enquire. Visited couple if projects on Sunday in Diwali, found the offices deserted with no enquiries. Worst festive season for Pune in decade according to a broker.

    Not only Orbit, Lodha is even giving offers like Buy 3BR for the price of 2BR.
    Pune RE zoomed up due to Mumbai investors & these very investors are now going to trouble builders by off-loading flats at much lower than market rates. Wakad, Kharadi has ample of them as well. This was in anycase bound to happen, any market driven by speculation can't sustain long term hikes.
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  • Honorary Moderator ?? :)
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  • Can we compile the list of people having done the registration of the flats in T20 - 24?
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  • Hi realacres, am an avid reader of your opinions and predictions. Though mostly you are considered the Devil's Advocate on pune threads :)

    Anyways, i tried to look at the project objectively with COLD INVESTOR LOGIC. (leaving all emotional attachments aside, since i have a booking in the newly launched towers)

    For an investor:
    Capital cost for a golf facing 2BHK: 73L to 75L (in resale) which comes to around 79L-80L all inclusive of SD, reg, brokerage etc.
    Current rental for golf facing 2bhk: 14K, so eventually in hand income of 10K after all society expenses, brokerage, etc

    The rate of return is: (10000 x 12) / (80,00,000 /100) = 1.5% which is pathetic!

    For an end-user/resident:
    Consider a the average cost of money for buying and holding
    = 270000 + 525000 = 795000 per year.

    cost of renting: 14000x12 = 168000 + 17000 (for brokerage, registration) = 185000

    Overall savings by renting and not buying = 795000 - 185000 = 6,10,000 per year.

    It makes more sense in renting if someone wants to stay at Blue Ridge rather than buying at current prices.

    Future outlook:
    The next set of 5 towers would be launched in the next few months, thus bringing 600 to 650 flats as new inventory. The prices would start from 65L non-golf and 70L for golf facing, and they will increase after every 150 flats sold milestone. The pricing was indicated by the sales staff to be lower, as these last few towers are not positioned in a desirable location on the blue ridge plot.

    This new inventory will immediately cause a downfall in the resale rates of existing flats. As new investors would simply invest in the construction linked payment plan at a much much lower price. And if anyone desires to stay at Blue Ridge, they would simply stay on rent there for the under-construction period. Just like many of the people are doing now in existing towers. It is better to pay 14K rent and claim HRA with no loan as they would be self-funding the CLP plan, rather then pay 55K EMI for the 50L loan.

    So it is likely that the current resale rates will fall from 73L+ to around 60L+ rates for golf facing 2BHK.
    The rentals would also fall or stay subdued, as much of the T5-T14 inventory of 1100 flats would enter the rental market, also bachelors and other target segment may move to the B towers near the SEZ with rentals of 4k-5k only and just 1 min walk to office, rather than the 1Km walk from the golf course.


    Overall effect:
    #1. beneficial for T20-T23 investors as their Present Value of all CLP linked outflows is around 40L-47L only (at 10% assumed interest on money). feel free to calculate for FV of 73L-86L over 6 years (payment every 3 months) at 10%. the range is due to variable booking prices for investors depending on the stage at which they invested.

    #2. Profitability is limited or/and stagnation for T1-T8 folks who bought at 40L-45L rates

    #3. Bad for all the T5-T14 investors as they would be taking the project lifecycle hit, as their deliveries would be at the lowest point of the entire cycle. but somewhat mitigated as they bought and paid in CLP

    #4. Worst for the T1-T14 investors who have bought recently in resale or planning to buy in the next 2-3 months in resale, with full price upfront. They would be bear the 100% brunt from both ends. Please avoid at all costs!

    dear friends, do not get emotionally attached if considering from the pure investment point of view. If someone tells you that the 80L price will double in 4-5 years to 160L, it is very unlikely, due to the 650 new flats inventory coming up shortly. Also the bigger Paranjape project of 200 acres with a bigger golf course, will futher add more and more inventory at cheaper builder rates.

    It would be better to rent and buy the upcoming CLP linked towers, if staying in Blue Ridge is the ultimate goal and focus of your life.

    Even the brokers have understood this, my friend was quoted 80L for 2BHK, and within a single meeting the price came down to 73.5L. But due to the cash component he backed out of the sale, now he is living happily on rent in Blue Ridge.

    PS: many of the resale flats are lying unsold for over 6 months now.
    #1. beneficial for T20-T23 investors as their Present Value of all CLP linked outflows is around 40L-47L only (at 10% assumed interest on money). feel free to calculate for FV of 73L-86L over 6 years (payment every 3 months) at 10%. the range is due to variable booking prices for investors depending on the stage at which they invested.

    #2. Profitability is limited or/and stagnation for T1-T8 folks who bought at 40L-45L rates

    #3. Bad for all the T5-T14 investors as they would be taking the project lifecycle hit, as their deliveries would be at the lowest point of the entire cycle. but somewhat mitigated as they bought and paid in CLP

    #4. Worst for the T1-T14 investors who have bought recently in resale or planning to buy in the next 2-3 months in resale, with full price upfront. They would be bear the 100% brunt from both ends. Please avoid at all costs!

    dear friends, do not get emotionally attached if considering from the pure investment point of view. If someone tells you that the 80L price will double in 4-5 years to 160L, it is very unlikely, due to the 650 new flats inventory coming up shortly. Also the bigger Paranjape project of 200 acres with a bigger golf course, will futher add more and more inventory at cheaper builder rates.

    It would be better to rent and buy the upcoming CLP linked towers, if staying in Blue Ridge is the ultimate goal and focus of your life.

    Even the brokers have understood this, my friend was quoted 80L for 2BHK, and within a single meeting the price came down to 73.5L. But due to the cash component he backed out of the sale, now he is living happily on rent in Blue Ridge.

    PS: many of the resale flats are lying unsold for over 6 months now.
    CommentQuote
  • Humble,
    Good analysis. The same applies to entire Pune RE.

    While considering the supply of number of apartments, you should also consider the supply coming in from Megapolis, Life Republic, Kasturi etc. As soon as Pune RE starts correcting, Hinjewadi would implode followed by Wakad.

    Sent from my Q800 using Tapatalk
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  • T20-T21 Emails for Modifications.

    I understand that folks who have booked in these towers have started getting emails around desired modifications. I know this topic was discussed a bit earlier in the thread. However since deadline (3rd Jan for Me) to submit those is approaching, just wanted to consolidate. The list I am kind off finalizing is :


    1) Make all out-lets universal ( US and India ),
    2) Increase height of the kitchen platform to let dish-washer fit.
    3) Add plumbing-electricals for the dish-washer,
    4) Replace all regular windows with mosquito-mesh once - Estimates?
    5) Add wired-internet facility in every room,
    6) Add glass door-partition in every shower without tub.
    7) What options for Open kitchen (Kitchen and Living room Wall options
    8) Kitchen Sink Grinder

    Any suggestions around cost/quality of work done by BR for these modifications?
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  • humble_guy's analysis from COLD INVESTOR LOGIC....is "right on the money"....( pun intended :-).

    On the other hand….one may ask WHY ..why in the world, generation after generation keeps spending their precious resources after this one asset....never-mind the “opportunity cost”.
    Why a home is more than just for shelter, convenience, comfort and a cold investment?? One may ask.

    It’s a statement about yourself......your home declares to your friends and family that you "have arrived".

    Since a family's social standing depends on whether home they live in is "theirs or not" ( and other such symbols )......in real world....."cold investor logic" is almost never applied to rent vs. purchase of long-term dwelling i.e. Home.

    If cold investor's logic was applied......I hear...most of us won't have had kids either.
    I know it’s slightly embarrassing to admit it...but it’s true.
    Of course, in kids' case its not for the social standing.....kids represent our innate urge to procreate and they are symbol of love.

    CommentQuote
  • Originally Posted by Superduper
    humble_guy's analysis from COLD INVESTOR LOGIC....is "right on the money"....( pun intended :-).

    On the other hand….one may ask WHY ..why in the world, generation after generation keeps spending their precious resources after this one asset....never-mind the “opportunity cost”.
    Why a home is more than just for shelter, convenience and comfort ?? One may ask.

    It’s a statement about yourself......your home declares to your friends and family that you "have arrived".

    Since a family's social standing depends on whether home they live in is "theirs" or not.....in real world....."cold investor logic" is almost never applied when it comes to buying a home.


    in my opinion, the home you buy for your self use is NOT an investment. So if you take that out of question, the humble_guy's logic perfectly fits.

    for personal use, just ensure to get maximum value for your money... in whichever means you can (E.g. area, location, amenities, quality etc).
    CommentQuote
  • Originally Posted by humble_guy
    Hi realacres, am an avid reader of your opinions and predictions. Though mostly you are considered the Devil's Advocate on pune threads :)

    Anyways, i tried to look at the project objectively with COLD INVESTOR LOGIC. (leaving all emotional attachments aside, since i have a booking in the newly launched towers)

    For an investor:
    Capital cost for a golf facing 2BHK: 73L to 75L (in resale) which comes to around 79L-80L all inclusive of SD, reg, brokerage etc.
    Current rental for golf facing 2bhk: 14K, so eventually in hand income of 10K after all society expenses, brokerage, etc

    The rate of return is: (10000 x 12) / (80,00,000 /100) = 1.5% which is pathetic!

    For an end-user/resident:
    Consider a the average cost of money for buying and holding
    = 270000 + 525000 = 795000 per year.

    cost of renting: 14000x12 = 168000 + 17000 (for brokerage, registration) = 185000

    Overall savings by renting and not buying = 795000 - 185000 = 6,10,000 per year.

    It makes more sense in renting if someone wants to stay at Blue Ridge rather than buying at current prices.

    Future outlook:
    The next set of 5 towers would be launched in the next few months, thus bringing 600 to 650 flats as new inventory. The prices would start from 65L non-golf and 70L for golf facing, and they will increase after every 150 flats sold milestone. The pricing was indicated by the sales staff to be lower, as these last few towers are not positioned in a desirable location on the blue ridge plot.

    This new inventory will immediately cause a downfall in the resale rates of existing flats. As new investors would simply invest in the construction linked payment plan at a much much lower price. And if anyone desires to stay at Blue Ridge, they would simply stay on rent there for the under-construction period. Just like many of the people are doing now in existing towers. It is better to pay 14K rent and claim HRA with no loan as they would be self-funding the CLP plan, rather then pay 55K EMI for the 50L loan.

    So it is likely that the current resale rates will fall from 73L+ to around 60L+ rates for golf facing 2BHK.
    The rentals would also fall or stay subdued, as much of the T5-T14 inventory of 1100 flats would enter the rental market, also bachelors and other target segment may move to the B towers near the SEZ with rentals of 4k-5k only and just 1 min walk to office, rather than the 1Km walk from the golf course.


    Overall effect:
    #1. beneficial for T20-T23 investors as their Present Value of all CLP linked outflows is around 40L-47L only (at 10% assumed interest on money). feel free to calculate for FV of 73L-86L over 6 years (payment every 3 months) at 10%. the range is due to variable booking prices for investors depending on the stage at which they invested.

    #2. Profitability is limited or/and stagnation for T1-T8 folks who bought at 40L-45L rates

    #3. Bad for all the T5-T14 investors as they would be taking the project lifecycle hit, as their deliveries would be at the lowest point of the entire cycle. but somewhat mitigated as they bought and paid in CLP

    #4. Worst for the T1-T14 investors who have bought recently in resale or planning to buy in the next 2-3 months in resale, with full price upfront. They would be bear the 100% brunt from both ends. Please avoid at all costs!

    dear friends, do not get emotionally attached if considering from the pure investment point of view. If someone tells you that the 80L price will double in 4-5 years to 160L, it is very unlikely, due to the 650 new flats inventory coming up shortly. Also the bigger Paranjape project of 200 acres with a bigger golf course, will futher add more and more inventory at cheaper builder rates.

    It would be better to rent and buy the upcoming CLP linked towers, if staying in Blue Ridge is the ultimate goal and focus of your life.

    Even the brokers have understood this, my friend was quoted 80L for 2BHK, and within a single meeting the price came down to 73.5L. But due to the cash component he backed out of the sale, now he is living happily on rent in Blue Ridge.

    PS: many of the resale flats are lying unsold for over 6 months now.

    The only hope is for rentals to improve, which is very difficult due to continuous high level of supply. Also, I don't think immigration is happening at that high a level, although they are still very good numbers for Pune

    The only hope is for rentals to improve, which is very difficult due to continuous high level of supply. Also, I don't think immigration is happening at that high a level, although they are still very good numbers for Pune

    The only hope is for rentals to improve, which is very difficult due to continuous high level of supply. Also, I don't think immigration is happening at that high a level, although they are still very good numbers for Pune

    The only hope is for rentals to improve, which is very difficult due to continuous high level of supply. Also, I don't think immigration is happening at that high a level, although they are still very good numbers for Pune
    CommentQuote
  • Originally Posted by atulopt
    T20-T21 Emails for Modifications.

    I understand that folks who have booked in these towers have started getting emails around desired modifications. I know this topic was discussed a bit earlier in the thread. However since deadline (3rd Jan for Me) to submit those is approaching, just wanted to consolidate. The list I am kind off finalizing is :


    1) Make all out-lets universal ( US and India ),
    2) Increase height of the kitchen platform to let dish-washer fit.
    3) Add plumbing-electricals for the dish-washer,
    4) Replace all regular windows with mosquito-mesh once - Estimates?
    5) Add wired-internet facility in every room,
    6) Add glass door-partition in every shower without tub.
    7) What options for Open kitchen (Kitchen and Living room Wall options
    8) Kitchen Sink Grinder

    Any suggestions around cost/quality of work done by BR for these modifications?


    As far as I know, the modifications right now are structural, i.e. whether you want the wall between the kitchen and living room and for any extra electrical/plumbing. Window meshes/ glass partition in bathroom etc, will be asked about at a later stage when they are looking to complete the interior finishing.

    I had gone over to their office before diwali and spoken about modifications in terms of extra wiring for a home theatre and extra plug points where the TV will be installed (you can even specify if you want the height of the switches to be different - this can't be changed later). In addition to this, I had asked for an extra sink and small slab in the dry balcony (next to the washing machine area) - I prefer to stack dirty dishes outside the kitchen :-).

    I am yet to hear back from them about the quote for these modifications. Has anyone got a quote from BR about the modifications that they had requested?

    Sent from my Nexus 7 using Tapatalk 2
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  • Originally Posted by punerebuyer
    in my opinion, the home you buy for your self use is NOT an investment.


    One person's "investment" today is other person's "home" tomorrow.
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