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 Baruch
    what do you mean by this ? Curious...


    Tried to do this using a picture. Visited BR last week. Wanted to hold a cardboard with all the IREF forum user IDs check if it was possible to meet those people :)
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  • Read this today

    Ascendas to buy IT SEZ Blue Ridge Phase II for Rs 640 crore

    Read more at:
    Ascendas to buy IT SEZ Blue Ridge Phase II for Rs 640 crore - The Economic Times
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  • Considering the above deal, residential property in BlueRidge Phase 2 should not be more than 3750/- per sq ft.

    Because this deal of INR 6400000000 for 1500000 sq ft includes all the residential + office + commercial space.

    So if I divide 6400000000 by 1500000, the average price that Ascendas fund is paying is 4266 per sq ft. Am I wrong here?

    Cheers!
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  • Property in Pune is way over valued in todays time. Even fringe areas like Ravet and Charoli are commanding 4000+ in spite of being under developed. It's all based on the dream these builders are selling to first time buyers
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  • Originally Posted by Karan Dheer
    Considering the above deal, residential property in BlueRidge Phase 2 should not be more than 3750/- per sq ft.

    Because this deal of INR 6400000000 for 1500000 sq ft includes all the residential + office + commercial space.

    So if I divide 6400000000 by 1500000, the average price that Ascendas fund is paying is 4266 per sq ft. Am I wrong here?

    Cheers!

    Doesn't include residential. It is for the IT 7, 8 and 9 office/commercial buildings.
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  • Originally Posted by Karan Dheer
    Considering the above deal, residential property in BlueRidge Phase 2 should not be more than 3750/- per sq ft.

    Because this deal of INR 6400000000 for 1500000 sq ft includes all the residential + office + commercial space.

    So if I divide 6400000000 by 1500000, the average price that Ascendas fund is paying is 4266 per sq ft. Am I wrong here?

    Cheers!


    If you try buying 1500000 Sq Feet of contiguous residential spece at one go in bulk from Shree Paranjape.....I am sure he would sweeten the deal for you !
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  • Originally Posted by pnq2012
    Read this today

    Ascendas to buy IT SEZ Blue Ridge Phase II for Rs 640 crore

    Read more at:
    Ascendas to buy IT SEZ Blue Ridge Phase II for Rs 640 crore - The Economic Times


    thanks for sharing....its a wonderful news for all BR investors & end users

    pressure will be on Paranjapae to esnure the delivery + tenancy by 2016

    Bulk of RE is ( and should be) awlays driven by job opportunities...
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  • The deal is solely for the SEZ phase II (IT-7,8 & 9). It has no direct bearing on residential towers.
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  • Originally Posted by sudhashbahu
    The deal is solely for the SEZ phase II (IT-7,8 & 9). It has no direct bearing on residential towers.


    Certainly a huge indirect one.... since.....few thousand well paid professionals will be commuting from who knows where to BR SEZ.
    Any guesses on which residential project those professionals will have their eyes set on......if in case some of them prefer to stay near work ?!?!
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  • Originally Posted by sudhashbahu


    Anyone buying in Township projects must factor in this risk.

    The nice open spaces of today can become a bunch of additional buildings at sole direction of the builder, provided FSI support is available.

    If FSI increases, the risk of this materializing increases.

    The fact that builder retains this right for a very long time (10 years!) means owners can be guaranteed of the open spaces only after that time.


    Contracts are hard lines to a certain extent only

    Any contract can be challenged in court for being unfair

    DLF, JP, Supertech have recently bitten the dust (in court & CCI) for forcing buyers to sign such contracts

    I have a flat in Mahagun Mezzaria in Noida ...builder initially had a proposed tower in one corner of the ongoing project...intent was to use to addtional FSI in next 4-5 years

    But they have dropped the idea after seeing the fate of Supertech

    Builders are now wary of taking buyers for granted too much as even their investment will be at risk in litigation

    I trust Pune crowd to be much more legally informed to cut any such adventurism by Paranjape
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  • Originally Posted by Superduper
    If you try buying 1500000 Sq Feet of contiguous residential spece at one go in bulk from Shree Paranjape.....I am sure he would sweeten the deal for you !


    Dear Superduper...the deal is not one go. It is being done with a load of checklists & milestones to be achieved. If there is failure from the developers side, the buyer has the right to recall being one of the clauses.

    But it looks to be a positive deal because the earlier one in 2013 was at about 3103 per sq ft & this one is with a 37% increase at 4266.

    Price trends are really inverted. Residential is more expensive than commercial.

    One should buy office space & make a bunker out it to reside & sleep. :bab (59):

    Cheers!
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  • Originally Posted by Karan Dheer
    Dear Superduper...the deal is not one go. It is being done with a load of checklists & milestones to be achieved. If there is failure from the developers side, the buyer has the right to recall being one of the clauses.

    But it looks to be a positive deal because the earlier one in 2013 was at about 3103 per sq ft & this one is with a 37% increase at 4266.

    Price trends are really inverted. Residential is more expensive than commercial.

    One should buy office space & make a bunker out it to reside & sleep. :bab (59):

    Cheers!


    agree...those checklists will ensure that Paranjapae does a good and fast job..lest he is in trouble

    not long ago commercial used to be 50% higher than residential in Mumbai...both are roughly same now in places like Andheri...

    given higher risks involved in commercial....it should always be better priced than residential and give higher rental yields...but thats not the case now a days...

    it is just another sign that how much residential is over valued in India

    Paranjape is kind of subsidizing commercial for a big ticket purchase and hoping to such that from residential
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  • Originally Posted by Baruch
    thanks for sharing....its a wonderful news for all BR investors & end users

    pressure will be on Paranjapae to esnure the delivery + tenancy by 2016

    Bulk of RE is ( and should be) awlays driven by job opportunities...



    So let me get this right.

    In Dec 2014 BR sells 1.5 million sqft under-contruction IT SEZ for 640 crores while in May 2013 it sold 1.45 million sqft of another SEZ in the same township for 450 crores.

    So within say 19 months the price increased by 190 crores and we are told every single day that RE is a mess :)
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  • Originally Posted by herohiralal
    So let me get this right.

    In Dec 2014 BR sells 1.5 million sqft under-contruction IT SEZ for 640 crores while in May 2013 it sold 1.45 million sqft of another SEZ in the same township for 450 crores.

    So within say 19 months the price increased by 190 crores and we are told every single day that RE is a mess :)


    Buddy, I guess bears will just pounce on you for making such a horrendous claim! :bab (45):
    It is not Dec 2014 but Dec 2016 as mentioned in ET article.

    So the per sqft price increase from 3100/- to 4260/- over a period of 3.5 years symbolize 37% appreciation.

    You are bound to get advice that FD's would provide you better returns. :bab (59):
    This is still under construction, proposed and village infrastructure!!!

    Be prepared to read the doomsday prophecy being told to you.
    Let us enjoy :pop2:
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  • Originally Posted by gppande
    Buddy, I guess bears will just pounce on you for making such a horrendous claim! :bab (45):
    It is not Dec 2014 but Dec 2016 as mentioned in ET article.

    So the per sqft price increase from 3100/- to 4260/- over a period of 3.5 years symbolize 37% appreciation.

    You are bound to get advice that FD's would provide you better returns. :bab (59):
    This is still under construction, proposed and village infrastructure!!!

    Be prepared to read the doomsday prophecy being told to you.
    Let us enjoy :pop2:


    and only loners ( read IT crowd having no life on weekends) live in these modern villages....cultured people will never leave Peths
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