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 humble_guy
    pnq2012, just having some lighter moments on the thread.

    No matter what the bulls or bears say, the project is fully soldout with almost nil inventory. :)


    I wont call nil...but in total not more than 100 odd flats are available in all towers launched so far

    thanks for highlighting the truth...and that should be the summary bottomline of every post on this thread
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  • Originally Posted by TheTruth
    ^^^ Your point was sound, and it was stretched beyond limit and taken in too literal sense by bears who found it easy to chew upon. The increased spending power is evident everywhere, by the number of luxury cars on road, by the increased number of luxury hotels, by the increase in school fees of kids. But bears will ignore it all, because for them, if they can't afford, then no one else should.

    Luxury car sales has gone up, no one is doubting that, but how many of those are the ones who are taking 20 yr loan to buy that ? And all the luxury car buyers are not in market to buy their first home either. Other aspect is good finance options for premium cars.

    * PS:- My friend's dad wanted to buy VW Passat. Rate of interest which he got from bank was over 11%. He enquired with Audi. Audi financial services offered them interest rate of 1.99%. They bought Audi A4, coz with interest amount added, Passat was costing almost same after 3 years !! Merc comes with great options of real 0% interest rates.

    And man, the statement made in BOLD is one of the most ridiculous statement seen here. Very poor/low quality thinking I must say.
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  • Originally Posted by humble_guy
    pnq2012, just having some lighter moments on the thread. :)

    No matter what the bulls or bears say, the project is fully soldout with almost nil inventory.

    Good for people who bought in the initial stages 2008-2010, not so economically good for the ones buying at current rates, unless they are planning to live their entire life in Hinjewadi as an end-user.


    Also let us know the INVESTOR flats here which will come up in market.
    Real inventory = Builder + Investor

    Why miss investors flats, which in reality consists most of the sale ?
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  • ^^^ Why did you remove the last line from my post? Perhaps that showed increased quality thinking.

    But bears will ignore it all, because for them, if they can't afford, then no one else should.

    And in bears too, many can afford, but they are lost in their thinking 'enjoying current life to the fullest' etc.
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  • Real inventory = Builder

    Once it is sold...how can it be called inventory....every house has a potential to be resold...by that weird logic all houses are inventory

    also why venture into something which cant be proved as then you will easily say that 90% of flats are owned by investors and available...and I will say only 10-20 flats are currently doing rounds...

    so lets stick with sth which can be verified and that is flats unsold with builder's
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  • I would agree with Baruch, the Real Inventory = builder units.

    realacres, a few days back i have already shown by financial analysis and inventory analysis, the dire straits the investor in Blue Ridge is facing, specially anyone investing 2012 onwards. More so, because the gap between a seller's greed and a target buyer's affordability is too huge.

    Anyways, i will repeat it again.

    Speaking in terms of Financial profitability: Blue Ridge is not good for newer investors: neither for rental income, nor for capital appreciation.

    Blue Ridge only good for end-users who would be spending the next 10-20 years of their working (and children's studying) lives in Hinjewadi, thus enjoying the benefits of living there.
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  • Originally Posted by realacres
    Luxury car sales has gone up, no one is doubting that, but how many of those are the ones who are taking 20 yr loan to buy that ? And all the luxury car buyers are not in market to buy their first home either. Other aspect is good finance options for premium cars.

    * PS:- My friend's dad wanted to buy VW Passat. Rate of interest which he got from bank was over 11%. He enquired with Audi. Audi financial services offered them interest rate of 1.99%. They bought Audi A4, coz with interest amount added, Passat was costing almost same after 3 years !! Merc comes with great options of real 0% interest rates.

    And man, the statement made in BOLD is one of the most ridiculous statement seen here. Very poor/low quality thinking I must say.


    and thats why common men get fooled by these marketers all the time...only god help those who think that loan on audi is charged at 1.99% or free....its just another way of giving cash discounts

    in fact many builders also give such schemes...subvention and all...so what does that mean...we should buy properties from those shoddy builders...
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  • Originally Posted by TheTruth
    ^^^ Why did you remove the last line from my post? Perhaps that showed increased quality thinking.

    For the simple reason that the same point was highlighted in RED by Baruch.


    and thats why common men get fooled by these marketers all the time...only god help those who think that loan on audi is charged at 1.99% or free....its just another way of giving cash discounts

    in fact many builders also give such schemes...subvention and all...so what does that mean...we should buy properties from those shoddy builders...

    Now man, don't compare Audi with some shoddy builder projects. It's 2 different thing.
    As far as these schemes are concerned, it is not low interest rates, it is done worldwide so that businesses can take benefit of it which is more than depreciation.
    In case of Merc worldwide, 7/10 car are financed by Merc's own financial division & this facility is availed even by those who can make 100% down-payment.
    Request you to get the details of these & show it to CA. He will tell what are the benefits in this case vis a vis bank car loans.

    every house has a potential to be resold...by that weird logic all houses are inventory

    Yes, that's true but not complete in case of BR as in this case, most of buyers were not END USERS but INVESTORS who plan to SELL.

    There is a difference between buying for self use & then selling for X reason & BUYING with an INTENTION TO SELL.

    Hope this clears what I am trying to say.

    I would agree with Baruch, the Real Inventory = builder units.

    realacres, a few days back i have already shown by financial analysis and inventory analysis, the dire straits the investor in Blue Ridge is facing, specially anyone investing 2012 onwards. More so, because the gap between a seller's greed and a target buyer's affordability is too huge.

    What you & baruch are saying is completely correct as per paper & builder side sales, but for end users, just because builder doesn't have many units left, doesn't mean options are closed. As you rightly gave eg. of investor selling at price much lower than builder.
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  • In a project this size.........there will always be some inventory of secondary sells available to fresh buyers.
    Upon completion of project.......the inventory may be slightly bigger but that numbers will reduce to a "steady state" (to borrow that phrase from chemistry book) in matter of a year or two.

    Steady state secondary inventory will not be of more than 30-60 units....i.e. 1-2% of BR.....that's my prediction.
    During that steady-state, smaller units will make up bigger portion of the inventory compared to bigger units ( more than their static share ). One 5 BHK may be on market occasionaly here and there.

    After Mr. P is done selling all his inventory, his so far hushed next big project in the area...will provide "price discovery" at BR.
    Indian RE secondary market is very opaque and inefficient (in sense of "efficient-markets").
    And that's one of the reasons...i think a welcome "side-effect" of MR. P's staying around is..... the price-discovery at BR will not be left entirely to individual sellers in that opaque secondary market.
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  • Originally Posted by humble_guy
    I have visited Blue Ridge around 8 times, at various times of the day/evening and overnight. The only cars i saw were Maruti, Tata, Ford, Honda, Fiat... Yet to see even the cheapest BMW or Audi worth 30L in the Blue Ridge complex or parking levels. :)

    Infact a large portion of the parking levels had deserted slots which were just empty all the times. So it seems a bulk of people even waiting to buy their 1st car, renters perhaps?.

    The above is not the most scientific analysis and mostly anecdotal, but yet...

    PS: i would love to be proved wrong here, if someone staying in BlueRidge can post some pictures of the parking levels with even a few 30L+ cars visible.. leave alone the 74L Audi. It would be really nice.


    >>Infact a large portion of the parking levels had deserted slots which were just empty all the times. So it seems a bulk of people even waiting to buy their 1st car, renters perhaps?.

    Like I posted earlier. My team mate lives in BR as tenant. About half of current residents are tenants.
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  • Originally Posted by Sat234
    >>Infact a large portion of the parking levels had deserted slots which were just empty all the times. So it seems a bulk of people even waiting to buy their 1st car, renters perhaps?.

    Like I posted earlier. My team mate lives in BR as tenant. About half of current residents are tenants.


    It proves the theory that major buyers are investors in the project. Responsibility of managing the society will come on the shoulders of the resident owners who will be say 50% or less. This will put a lot of pressure on them as tenants generally do not have a sense of ownership and will not be that passionate about maintaining the society. If there tenants comprise of bachelors, then
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  • Few investors may their flats as a guest house to companies to extract more income. If this happens then it will be same as living in hostel with family
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  • Neighbor's envy ...owner's pride
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  • Originally Posted by lazybone007
    It proves the theory that major buyers are investors in the project. Responsibility of managing the society will come on the shoulders of the resident owners who will be say 50% or less. This will put a lot of pressure on them as tenants generally do not have a sense of ownership and will not be that passionate about maintaining the society. If there tenants comprise of bachelors, then



    >> Responsibility of managing the society will come on the shoulders of the resident owners who will be say 50% or less.

    It comes under STA so no point of society.

    BTW, who owns the land on which the township stands. The builder ? Or the flat owners collective ?
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  • Originally Posted by Baruch
    Neighbor's envy ...owner's pride


    For the benefit of the tenants :D !!

    So, in BR, you have flats being sold for over 1.3 Cr, which fetches a paltry rent of 15000 per month. The owner pays for the maintenance of the township (at least 2000 Rs per month ?). So that the tenants enjoy the golf course view.
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