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.
Read more
Reply
3909 Replies
Sort by :Filter by :
  • thanks for the accusation. With liberalisation the price of goods quoted by the seller are decoupled from government intervention, however at the same time controls and regulation to check and prevent malpractices have been ignored. if the "saviour" of india rahul gandhi takes on black money as his next project you can easily expect prices to drop 50% in many areas. however will he risk biting the hand which rocks his cradle.
    CommentQuote
  • Originally Posted by rameshyahoo
    thanks for the accusation. With liberalisation the price of goods quoted by the seller are decoupled from government intervention, however at the same time controls and regulation to check and prevent malpractices have been ignored. if the "saviour" of india rahul gandhi takes on black money as his next project you can easily expect prices to drop 50% in many areas. however will he risk biting the hand which rocks his cradle.


    He need to start from Home.
    CommentQuote
  • Originally Posted by rahulbhagwat
    I see that rameshyahoo is particularly pro builder, against buyers. Any reasons ?

    Simple fact, we want flats at reasonable prices that are commensurate with
    salaries overall. If builders can't give that, they are profiteering.

    True & worst part is that despite taking the money, the builders don't deliver. What should be done in this case then?? In Pune, the issue alongwith the price is also the delivery of the product, not to forget the crap DPs:bab (45):.
    CommentQuote
  • Most of the new projects that I'm seeing are charging certain amount/percentage if you cancel bookings . I've seen upto 50% amount forfeited . So hard to believe that builders are returning full amount unless u had booked at a rate say like 2500 few months back , didnt enter an agreement and the builder is now selling at 3000 .
    CommentQuote
  • Really cant imagine WHY the people in Pune trust the builders so much, I mean the same guys have ***ed you over and over and you still want to sit down on the table with him?
    Phew !
    CommentQuote
  • Originally Posted by pcpune
    Really cant imagine WHY the people in Pune trust the builders so much, I mean the same guys have ***ed you over and over and you still want to sit down on the table with him?
    Phew !

    Because they want to fulfill social obligations of owning a flat!!:o
    CommentQuote
  • Originally Posted by realacres
    Because they want to fulfill social obligations of owning a flat!!:o


    Is these social obligations dates back from Moghuls and Britishers. Slavery?

    I can understand somebody putting 50L-1Cr to learn/study technology, business in premier university.
    Why people so crazy, leveraging millions to buy 600 sf carpet-area, 4 walls in the outskirt of city. Then constantly worry about EMI, RE market?
    CommentQuote
  • Originally Posted by hitmady
    Is these social obligations dates back from Moghuls and Britishers. Slavery?

    I can understand somebody putting 50L-1Cr to learn/study technology, business in premier university.
    Why people so crazy, leveraging millions to buy 600 sf carpet-area, 4 walls in the outskirt of city. Then constantly worry about EMI, RE market?

    A million $ Q, which many won't understand:o. Had they understood this, the RE bubble wouldn't have taken place at first place.

    People give in to social pressure which is associated with owning a flat. In all this the people forget that the money is rented from the bank, so they remain renters in such case as well. But then, this can't be seen like the name-plate on the door/entrance lobby & so people prefer to rent money than renting a flat.

    The junk society has parameters for success, & it starts right from studies. A art student is considered dumb than commerce who is dumb than science chap:bab (22):. Some people even get shocked if a meritorious student opts for arts or commerce, thinking that only Engg/Doc means you have achieved something in academics, rest is crap.

    If this is the case with studies, owning a house is bigger than that!! So, buyers become bakra to show themselves as tigers to the society.:D
    CommentQuote
  • My view...

    I would not say our society is junk, but it is transforming. The demographics of India - based on caste, religion, community, language, state, living standards, financial background etc. dictates mostly what it feels is good or bad. And these parameters of success differ from time to time. For a person from low or middle class family going the Eng/Doc stream is a proven way to get enough money which will make his/her life easier.

    There will not be two opinions on the fact that owning a home is a necessity of life, more than a social obligation.

    Coming back to the discussion related to this thread, in this forum I have seen that some members base their opinion on the old facts. In this project, if there were cancellations or bulk booking discounts in the past for short period of time, then I think it is not fair to quote the same thing for the time to come unless there are new developments or new bulk bookings. I understand that it is typical of we Indian buyer to look at the history but prospective buyers need to understand the facts behind them.

    Being satisfied customer of PSCL in their past project, I am tracking this project since its beginning. It is true that the phase 1 of this project got booked within short span of time and phase 2 was wait listed when it was launched back in 2007. It is also true that after 2008 recession there were many cancellations in this project but when at a time there was a uncertainty of where the world is going this was not a surprise. Nobody was sure about the future let alone the job. The early buyers at that time pulled off, well it was a good move on their part as it would not have made sense maintaining the position in the uncertain economy.

    As the buyers move to reduce their risk, the sellers would be no different. If they have any cancellation policy of not returning the booking amount or return only part of it then in my opinion it is not wrong. In the US, some time back the return of camcorders and cameras used to attract zero charges which was typical in any developed country. Then some smart people started misusing that policy. They used to get a new camera and camcorder from shop and return it after using it during their leisure trip. After that many electronics shops started charging restocking fees. In UK, it is typical to let buyer know what can be returned and what will not be.

    On the topic of bulk booking discount, a management student/guru can throw some more light but in my view the bulk booking discount is used to attain certain motive sacrificing some profit. The motive can be to come close to break even point or to attract same community of buyers. In the case of Blue Ridge, I think it may be combination of both.

    It was correctly quoted somewhere that it is a need (self use) or hope (investor) that makes people to buy a house. I am not sure whether this project will be complete or not or will be late but buyers are smart enough to put their money if they see a value. If you build your own house, you will spend 1000 to 1500 rpsf on the construction. In the case of flat, rest of the money is for the location. I would not say land because it is really not a land that a flat owner own. I am not in a Real Estate business but people (aka professionals or investors who believe in the future of IT) ask why to put in money for a project which is 'near' Hinjewadi, why not which is 'in' the Hinjewadi? Sounds like a typical PSCL ad but to cut this already elongated thread short, in my view the location is very prospective and project good.
    CommentQuote
  • Nice post Sun&Sand. On BR, I disagree for the following:-

    If location is what commands price, then Hinjewadi should not sell at all at current stage,

    If builder gives bulk discounts, it just means that sufficient units are not being sold, else why the bulk discounts at first place?

    Taking cancellation charges for things like cam-recorder are understandable, but man, there is replacement policy if the gadget malfunctions on its own. Here, if the project delivery is not being met, assurances not kept, & hence the buyer demands for money post cancellation, I don't see anything wrong.

    Cancellation amount should be taken only if it is the fault of the buyer & not the builder. What's more, not letting cancel is even worse.

    Btw, PSCL performance of past can't be compared to current one or for that matter any builder coz during boom times, the attitude of builders towards buyers changed drastically & builders no longer valued their buyers as they knew if not this chap, there is another bakra waiting outside to book before price is hiked after 2 days!!

    * PS:- At current rates, one can buy at areas in Baner-Balewadi or even cheaper at PS/Wakad, so why spend more or PROPOSED TOWNSHIP??

    Again, I don't think that there will be so many ITGs at H'wadi who will be absorbed by BR & MPolis, so I expect large scale vacancies here. Note that these projects were built solely on ITGs market in pre-recession times who's calculations now doesn't stand true.
    CommentQuote
  • any new inputs on Blue Ridge??BR vs Megapolis, which is a better investment in a five year perspective?Can somebody please throw light on this issue?
    CommentQuote
  • 2 laborers death in a week by falling off

    Don't know what is wrong with the new residential townships at Hinjewadi where laborers are dead by falling off the building :o.

    Check the news here:-

    http://www.sakaaltimes.com/sakaaltimesbeta/20101013/5108309268296061184.htm

    http://www.sakaaltimes.com/SakaalTimesBeta/20101016/5328341837507293458.htm
    CommentQuote
  • "The arrested persons are Megha Polish site project manager... "

    Originally Posted by realacres
    Don't know what is wrong with the new residential townships at Hinjewadi where laborers are dead by falling off the building :o.

    Check the news here:-

    http://www.sakaaltimes.com/sakaaltimesbeta/20101013/5108309268296061184.htm

    http://www.sakaaltimes.com/SakaalTimesBeta/20101016/5328341837507293458.htm
    CommentQuote
  • Blue Ridge raised the prices to 4000. a 3BHK to cost 76L in Hinjewadi.

    Now they will get better bookings than they got last time by reducing the prices.

    I admire people buying at this rate in Hinjewadi.
    CommentQuote
  • Originally Posted by RAJESHP
    Blue Ridge raised the prices to 4000. a 3BHK to cost 76L in Hinjewadi.

    Now they will get better bookings than they got last time by reducing the prices.

    I admire people buying at this rate in Hinjewadi.


    Looks like they have got back their investment or construction cost. So it does not matter whether it's 70/80/100 lakhs.

    They just need to wait to get people booking because from now on every sale could be all profit.
    CommentQuote