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 PRA21103
    Hi all,

    I am not sure if its right forum to ask this question. Your help would be appreciated.
    I recently got a job in Phase 1. I am looking for 2 BHK on rent in Blue Ridge for my family. Can someone help me on this? I would appreciate the direct owners who wants to rent out their flats. One can send me a message on IREF, i will contact accordingly.

    Thank you.
    PR


    Your best bet is to visit the BR township office in tower 1 (near the river) and inquire.

    I will see if I can gather any information from the society too. Will PM you.
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  • I checked the ads for sale of 2BHKs in Blue Ridge on 99acres today. Focussed on the larger ones with 1047 carpet area (1256 built up).

    Noticed something interesting. All except one ads quote areas betwee 1330 to 1340 sq ft. So they are quoting some super built up area that is not mentioned anywhere in any official document. Only one ad quoted 1256 as saleable area correctly.

    The prices ranged from 75 lakhs to 90 lakhs. Considered on actual 1256 saleable area, this means a rate of Rs 5971 to 7156 per sq.ft.

    Considering that the price is unaffordable even for experienced IT folks, I find the prices ridiculous. Add to the fact that there are no shops (or anything else!) nearby.

    Or may be I am completely wrong and the project is so good that it really deserves that price range.
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  • Originally Posted by sudhashbahu


    Or may be I am completely wrong and the project is so good that it really deserves that price range.


    No one is wrong...

    There are lakhs of people in Pune...99.9% might find BR prices ridiculous but that still doesnt make any difference as all BR needs is 2500 odd people having money and thinking its value is more than price quoted
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  • Called the person advertising the flat at 75 lakhs. The ad was put by "mistake". The price is 80 Lakhs.

    So the price rage is 80-90 Lakhs = Rs 6369 to 7156 per sq.ft.
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  • wohaa.. better to buy a row house or a farm house near river with private garden and view as you like :P
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  • Originally Posted by kingkrunal
    wohaa.. better to buy a row house or a farm house near river with private garden and view as you like :P


    Nothing available near Hinjewadi. Everything is Agri land.
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  • Originally Posted by sudhashbahu
    Nothing available near Hinjewadi. Everything is Agri land.


    buy a 10k or more sq ft agriland.. there is some fsi on that .. build a house ... a garden ... a veg garden... get one security guy and you are good to go...
    saw icici bank on way to phase 2.. saw some sobha guest house ... how they got NA permission ?
    think think :D
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  • Originally Posted by kingkrunal
    buy a 10k or more sq ft agriland.. there is some fsi on that .. build a house ... a garden ... a veg garden... get one security guy and you are good to go...
    saw icici bank on way to phase 2.. saw some sobha guest house ... how they got NA permission ?
    think think :D


    Agri land FSI is 4%. for 10K sq.ft. plot you get 400 sq.ft to live.

    And rates for Agri land in surrounding area is already jacked up. I have heard rates of Rs 600 - 1000 p.s.f.
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  • yes thats also true... another thing is the resale row houses in wakad or hinjewadi... saw a few advt on property sites for 1 ~ 1.2 cr ... which can be negotiated to 90 ~ 1 cr ....
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  • Originally Posted by kingkrunal
    yes thats also true... another thing is the resale row houses in wakad or hinjewadi... saw a few advt on property sites for 1 ~ 1.2 cr ... which can be negotiated to 90 ~ 1 cr ....


    Everything in Hinjewadi is argi land. I wont take chances with row houses there.

    For Wakad I personally feel the area is not worth a 90L - 1Cr house (and add the fact that I can't afford it anyways :o)
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  • Originally Posted by sudhashbahu
    Called the person advertising the flat at 75 lakhs. The ad was put by "mistake". The price is 80 Lakhs.

    So the price rage is 80-90 Lakhs = Rs 6369 to 7156 per sq.ft.


    Those brokers do that. Either they would say that the ad was a mistake, or it is sold out (even though ad was posted one day ago) or owner is now asking for more. But hey, whats your requirement, I have got more to sell. They would even call you from different numbers giving different names. they sometimes quote more than what the owner is demanding, to get extra brokerage or a chunk from the extra amount.

    Seems overpriced.. let it go.. it is one of the better schemes in Hinjewadi.

    Why dont you explore Wakad. You will get 2bhk in region of 70L and it is developing faster. I agree many schemes are not that good, but some units are good even in the not so good schemes.
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  • Originally Posted by sudhashbahu
    Called the person advertising the flat at 75 lakhs. The ad was put by "mistake". The price is 80 Lakhs.

    So the price rage is 80-90 Lakhs = Rs 6369 to 7156 per sq.ft.


    Too silly for a mistake to happen...may be the guy got more number of calls than he expected! You should have offered 70 - all cash deal withing 1 day!
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  • Originally Posted by NeedHomeNow
    You should have offered 70 - all cash deal withing 1 day!


    Not sure if this will work on non-leveraged investors...but it surely is working on smaller builders...

    every1 was in need of cash....though with election over...money will stop getting out of RE...builders might still be in cash crunch unless either 1) economy shoots off dramatically post NaMo 2) interest rates are reduced by 2-3% to kick-start economy/RE

    both are possible but less probable scenario
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  • Originally Posted by Sat234


    Seems overpriced.. let it go.. it is one of the better schemes in Hinjewadi.

    Why dont you explore Wakad. You will get 2bhk in region of 70L and it is developing faster. I agree many schemes are not that good, but some units are good even in the not so good schemes.


    I have already let it go. The same 2BHK they quote for 80-90L I have taken on rent for Rs 14K per month. I get to enjoy the same facilities at fraction of the cost.

    Now I will wait and watch the Hinjewadi wakad area over the next few month for deals.
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  • Originally Posted by Baruch
    Not sure if this will work on non-leveraged investors...but it surely is working on smaller builders...

    every1 was in need of cash....though with election over...money will stop getting out of RE...builders might still be in cash crunch unless either 1) economy shoots off dramatically post NaMo 2) interest rates are reduced by 2-3% to kick-start economy/RE

    both are possible but less probable scenario


    Cash coming back to the RE market is true but will not happen so soon. As must have seen in the news..gold/property rates are falling due to offloading by guys to fund election campaigns.
    Now, money spent can only be recovered by goons (read politicians) once the new government comes back into power & start doing some sanctions.

    Without the files/sanctions moving...no money will come back to the sector...and it will take atleast 1-2 months. Rest is all psychological factors but nothing on the ground.

    Interst rate coming down? Not happening till this year end...and if God forbid, El nino screws up the monsoons, we may even see some rate increases to combat inflation. Those guys generally make up numbers to show inflation is constant or even going down...look around..i dont see anything getting cheaper..even a freaking lemon is costing 5 Rs nowadays!
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