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Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

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Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

Last updated: August 7 2017
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  • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

    Originally posted by pnq2012 View Post
    It is unlikely that BR salesmen will get online to attract customers. BR's marketing strategy hasn't worked much on the internet. I haven't seen a single BR ad on the internet or even on RE websites like magicbricks or commonfloor. They are more into advertising on large widescreen hoardings. I think they have even stopped newspaper advertisements though once in a while, you do see the important announcements like - golf inauguration or the air show.
    Not able to understand how BR became the most discussed project ? There must be some people purposefully discussing this project on this forum to draw attention of people.

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    • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

      Originally posted by poddar View Post
      Not able to understand how BR became the most discussed project ? There must be some people purposefully discussing this project on this forum to draw attention of people.
      Good question. Never thought about it.

      Anyways, let's not hijack this thread by discussing issues that are not related to the BR project.

      Comment


      • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

        Originally posted by pnq2012 View Post
        Good question. Never thought about it.

        Anyways, let's not hijack this thread by discussing issues that are not related to the BR project.
        Good idea indeed. Home buyers must not be hijacked.

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        • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

          Hello, I am new to this forum. What do you think about BR from purely investment viewpoint?

          I have booked a 2 BHK flat in Blueridge, golf course facing 5350 (total ~ 80 lac). I am planning to keep it for at least 5 years. Possession is after 2-3 years. The payment schedule will allow me to not take a loan.

          Do you think the appreciation will continue at the current rates? If it does, will there be a buyer pool to buy my flat at a cost of around 1.5 Cr or something like that in next 5-10 years?

          What do you think - keep it or cancel the booking? Appreciate any feedback from you guys!
          Last edited by wartea; January 13 2014, 01:54 PM. Reason: added possession detail

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          • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

            Originally posted by wartea View Post
            Hello, I am new to this forum. What do you think about BR from purely investment viewpoint?

            I have booked a 2 BHK flat in Blueridge, golf course facing 5350 (total ~ 80 lac). I am planning to keep it for at least 5 years. Possession is after 2-3 years. The payment schedule will allow me to not take a loan.

            Do you think the appreciation will continue at the current rates? If it does, will there be a buyer pool to buy my flat at a cost of around 1.5 Cr or something like that in next 5-10 years?

            What do you think - keep it or cancel the booking? Appreciate any feedback from you guys!



            If you are planning to stay here with family or parents, then BR makes sense.
            For an investor no juice is left.
            The rental returns are barely 1%-1.5% before tax. And capital appreciation is stagnating in that area and may even become negative in coming years. Study the oversupply situation in Noida and Gurgaon markets to get a trend of things.

            For an investor, the best time to enter was between 2008 - 2010 period in Blue Ridge.

            For new investors in the project, even after 5 years, the prices may still be stagnating in the 80L-90L price band due to huge oversupply.

            Reasons:

            #1. After 5 years, ready inventory of over 2000 existing flats in BR around golf course, plus 1200 flats in B towers near SEZ.

            #2. upcoming inventory of around 800-900 flats in Phase 4. [Towers 15-19] depending on the final number of floors approved.

            #3. New Massive township to come up very nearby to BR by Paranjape builders with nearly 200 -300 acre size. with 18 hole golf course (more than double of BR). Expect around 10000 units of various sizes to come into the market in intervals.

            #4. Around 20000 units in Hinjewadi under various stages of construction

            There is a huge lot of supply in Hinjewadi and Blue Ridge. The demand supply gap is not favorable to sustained price increase.

            one has to understand that despite everything, moneyed people would want to stay in more central locations or posh locations in a city. Hinjewadi is actually not that location that someone would pay 1.5cr for a 2bhk!


            PS: (No Idea about the prices after 10 years.)
            Last edited by humble_guy; January 13 2014, 03:26 PM.

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            • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

              Originally posted by humble_guy View Post



              If you are planning to stay here with family or parents, then BR makes sense.
              For an investor no juice is left.
              The rental returns are barely 1%-1.5% before tax. And capital appreciation is stagnating in that area and may even become negative in coming years. Study the oversupply situation in Noida and Gurgaon markets to get a trend of things.

              For an investor, the best time to enter was between 2008 - 2010 period in Blue Ridge.

              For new investors in the project, even after 5 years, the prices may still be stagnating in the 80L-90L price band due to huge oversupply.

              Reasons:

              #1. After 5 years, ready inventory of over 2000 existing flats in BR around golf course, plus 1200 flats in B towers near SEZ.

              #2. upcoming inventory of around 800-900 flats in Phase 4. [Towers 15-19] depending on the final number of floors approved.

              #3. New Massive township to come up very nearby to BR by Paranjape builders with nearly 200 -300 acre size. with 18 hole golf course (more than double of BR). Expect around 10000 units of various sizes to come into the market in intervals.

              #4. Around 20000 units in Hinjewadi under various stages of construction

              There is a huge lot of supply in Hinjewadi and Blue Ridge. The demand supply gap is not favorable to sustained price increase.

              one has to understand that despite everything, moneyed people would want to stay in more central locations or posh locations in a city. Hinjewadi is actually not that location that someone would pay 1.5cr for a 2bhk!


              PS: (No Idea about the prices after 10 years.)
              Very informative & unbiased post. The area now is only good for end use

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              • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                Great Info. Didn't know about #3 and #4.

                But I suppose several lacs people work in Hinjewadi, with several thousands/lacs added each year. Then how does a construction of a few hundred or even few thousand flats will create situation of over supply?

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                • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                  Originally posted by wartea View Post
                  Great Info. Didn't know about #3 and #4.

                  But I suppose several lacs people work in Hinjewadi, with several thousands/lacs added each year. Then how does a construction of a few hundred or even few thousand flats will create situation of over supply?
                  wartea, Please share the source of your numbers above? (looks like you are not a resident of Pune)

                  As per my understanding of the businesses in hinjewadi and salary structures in IT/ITES companies, it is unlikely that even 1000 people with salaries upwards of 15L-20L are presently employed in the few companies operating in that region in Hinjewadi.


                  Most people work in the 3L to 8L range, which means it is unlikely that any of those would be able to purchase your 2BHK flat for 1.5crores in the future. Infact, even the ones earning 15L-20L will not be able to afford a 1.5cr flat, that too which is 2bhk only.


                  PS: but anyways, if you have already made up your mind to sell the 2bhk after 5 years at 1.5cr, well no one can guide you here. Stick with the investment as per your projections, it is no use debating on projections. Only time will tell.
                  Last edited by humble_guy; January 13 2014, 07:02 PM.

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                  • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                    Wartea,

                    If you look at BR and other projects in the area, you will see that prices are not decided by pure demand-supply equation.

                    Primarily they are decided by builders, who in turn looks at "what market will bear", what's her construction cost + over-heads...and so on....
                    If demand is soft then the builders conveniently stop / delay construction and wait for demand to catch up ( why do you think BR is taking all these years to finish...huh ).

                    As I see it....when you put your unit on market and be patient, you will always be able to sell your ready possession unit to an end-user at a price similar to what Mr. P will be charging for under-construction units in new upcoming neighboring town-ship.
                    You are in fact taking advantage of his market survey.
                    If he thinks demand-supply equation is not going to let him increase prices more than just inflation...he won't be putting up the whole new town-ship.

                    When all construction is finished in the whole Hinjewadi area ( not likely for next 15 years at least )...it may be more of just pure demand-supply that will decide the price.
                    BUT...
                    While all this construction is going on.......Mr. P ( and his prices will beat the other projects in the area ) will give you a "floor" if you will, to your investment.... to be "marked to market" on your books.
                    Last edited by Superduper; January 13 2014, 07:51 PM.

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                    • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                      humble_guy, I just had an honest question, which you have answered. I appreciate that. I have not made up my mind on anything.

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