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
3928 Replies
Sort by :Filter by :
  • Originally Posted by ashwinrath
    I can put up my 1 BHK for sale at 70 L. No one will buy it. 2 months later i will reduce the asking price to 35 L and i will immediately get calls. The property site will show a 50 % drop in rates and people will start blogging about it. Thats what happens.


    You will probably reduce the price to 35L only if you bought it for 20-25L. If you yourself bought it for say 34L, I think you will prefer to wait for sometime than quoting 35L unless you are in real need of money.
    CommentQuote
  • Buyer may also think--------?? something fishy ?????? something foul ?????
    CommentQuote
  • Originally Posted by ashwinrath
    Yes they would. But like i said maybe the 2 BHK has some good interiors done which is well worth over 15 L. Also everyone in general overrates their property. I have seen old folks in Aundh trying to sell their 25 year old 3 BHK flats at 1.8 Cr !. Property rates in India is notional. There is no scientific valuation methodology in place. You should buy at what rate you believe is worth. I personally would value a 1000 sqft 2 BHK in Hinjewadi phase 1 at nothing more 50L. But since people are ready to pay 83 so they are selling at 83.

    I can put up my 1 BHK for sale at 70 L. No one will buy it. 2 months later i will reduce the asking price to 35 L and i will immediately get calls. The property site will show a 50 % drop in rates and people will start blogging about it. Thats what happens.


    Confirmed with friend that the 2bhks did not have any significant furnishings. At most kitchen cabinets worth 1.5 to 2 lakhs.

    In all, it seems expectations of 2 bhk owners are not in line with reality. 3bhk owners are more in line and also willing to negotiate. friend is in advanced talks/negotiations with one owner for 3bhk in Blue Ridge and with another for row house in wakad.
    CommentQuote
  • Originally Posted by TheOldFox
    Confirmed with friend that the 2bhks did not have any significant furnishings. At most kitchen cabinets worth 1.5 to 2 lakhs.

    In all, it seems expectations of 2 bhk owners are not in line with reality. 3bhk owners are more in line and also willing to negotiate. friend is in advanced talks/negotiations with one owner for 3bhk in Blue Ridge and with another for row house in wakad.


    Yes and i agree. Its quite possible that the 3 BHKs were purchased earlier and the 2 BHKs later. Therefore the seller of a 3 BHK is achieving his goal by selling at a rate almost equal to that of a 2 BHK (which was purchased later).

    I would strongly suggest that your friend should consider the row house in Wakad if he is getting it for about the same cost as a 3 BHK in BR.
    CommentQuote
  • Originally Posted by TheOldFox
    An acquaintance on mine is looking at apartments in Pune. He also saw a few in Blue Ridge over the last two weekends (via 2 brokers) and was thoroughly confused by the pricing.


    3BHK of size 1700-1800 sqft had asking price of 96-98L (he saw one for asking of 98L)
    2BHK of size 1000-1150 sqft had asking price of 80-98L (He saw two of the exact same size, one with asking of 83 and another with asking of 96)
    2BHK of size 1300-1400 sqft had asking price of 85-1Cr (He saw two of exact same size, one for asking of 87 and another with asking of 98)


    He was confused behind the lack of logic in pricing. I checked current listing on property sites and sure enough, the pricing is indeed haywire.


    Can anybody help with the recent price at which 2/3BHK sales actually took place? I have stopped following BR prices so am out of touch now.


    pnq2012; brres13; any clues?



    This is not just with Blue Ridge but I have seen similar pricing in Baner, Wakad & other areas. And this is where the brokers mess up with the used Indian real estate market. A per sq. feet rate does not apply. Instead a full final price applies.

    I'm not aware of resale prices in BR. The current builder rate for unsold flats is 6300 (negotiable to 6200). I always tell people to use that when negotiating. Few 4 BHKs got sold recently. I will see if I can find what they went for. But they are probably from the builder inventory and not resales.
    CommentQuote
  • Hey Everyone, looks like this thread is no longer as active as back in the days when I stayed there :-)
    I am in India/Pune on work and visited my old friends in Blue Ridge.
    The changes I noticed:


    Positive:
    - Lot more shops have opened. Even a bank branch is coming (ICICI)
    - The Unit B society now also has a lawn on the approach road like Unit A had. Looks great now.
    - A fountain and sitting area has come up near the main circle. Great time pass for old folks in the evening.
    -Frequency of water issues in Unit B has reduced


    Negative:
    - The security system has been out of order for months and not repaired.
    - The garbage disposal system has not been fixed. It must be over a year that it is kaput.
    - The Fire detector and sprinkler system seems to be disabled. The detectors don't have blinking lights so they must be disabled. Some detectors have the original plastic packing still on them. I also saw that the control/warning system installed outside the Level -1 parking door has been disabled (the power plug is removed!). In a high-rise tower, fire detection and sprinkler system would mean life and death. The management is very careless with this crucial system. The detector system inside the flats work for some and dont for others.
    - The Noise. Oh, what is that #$ continuous construction noise. Since BR has under construction towers, there is a constants construction noise that was disturbing to hear even from the 12th Floor!! And this construction is going to continue for years to come. God know how people manage. The noise itself is a reason not to stay at BR. Anyone wanting to buy flat at BR should visit it during day time on weekdays and evaluate the noise. Anyone claiming the BR is the best choice for the peaceful surroundings is plain out of their minds.
    - Both Swimming pools have shut down. pretext is water scarcity, while real reason seems to be to save maintenance costs. What is the point of disabling key amenities that would have been the basis of people to buy houses here?
    - Society used to have a discussion forum that kept people connected. Current management has disabled it to cut costs. For an allegedly posh society like BR, 30K per year for the entire society should not matter much. Many residents say real reason is that current society management shut it down to avoid inconvenient questions popping up on the forum. Now they expect people to make written complaints/comments in the registers in the towers/office. Which effectively cuts out all owners that don't stay in BR. A lot of people are affected as most owners are investors that don't stay in Pune
    - Even though frequency of water issues has reduced, it is still annoying and is not as trouble free as in Unit A
    CommentQuote
  • Blue turning to Black?
    CommentQuote
  • Nothing New
    CommentQuote
  • Most negatives posted are concerns for residents.

    Security as well as fire detectors etc are all to do with Honeywell systems with maker claiming system is obsolete and renewal / up gradation is reqd rather than maintenance.

    Garbage.. No problem for residents as garbage picked up manually every morning.. But hope segregation and disposal system is operational soon as someone is still manually sorting thru someone else's crap..

    Oh the noise ;). Biggest pain.. But the noise is mainly due to the rock breaking for T 15 to 18. And looks like its nearing completion.. Of course normal construction noise will continue but nothing compared to this..

    Swimming pool... Not for cost cutting.. Decided in AGM as genuine concern for the water shortage this year.. And just cuz we can afford it not justified to fill pools and then blame govt next summer..

    Discussion forum.. Well Personally I'm glad .. Cuz most people are clueless on how to conduct themselves on such forums and at times investors could look at only the cost factor and object to issues which people living here faced... So personally happy with writing things down and getting it solved ..

    But overall a fair feedback Sudashbahu..
    CommentQuote
  • Originally Posted by brres13


    Swimming pool... Not for cost cutting.. Decided in AGM as genuine concern for the water shortage this year.. And just cuz we can afford it not justified to fill pools and then blame govt next summer..



    This is very good . If possible please also raise a concern for wasting water in washing cars everyday .
    CommentQuote
  • Yes. Washing Cars require a lot of water. Odd--even formula ????
    CommentQuote
  • Yesterday a colleague in India reached out to for advice on buying at BR. Repeating my advice here for whatever it is worth.


    As per me, the benchmark for fair price was the sale price towards the end of 2008 before the property prices sky rocketed like crazy.


    During that time a 2BHK of 1046 sq ft carpet sold for 40.25 Lakhs. Ignoring the bubble that shortly followed and adjusting for inflation at 8% for 7 years, the fair price for same flat today would be 6898143. Given carpet of 1046, the per sq.ft rate works out to 6594.


    Therefore buyers should target around Rs 6600 per sq.ft carpet as fair price for any flat at BR (2/3/4/5 BHK). If the house has more than 1 parking slot, then add 1.5L for each additional parking. This is for Indians working in India. NRIs can always afford to pay more.


    This is my personal opinion.
    CommentQuote
  • Interesting opinion..
    Is this true only for BR or for all over the Pune/India ?
    CommentQuote
  • Originally Posted by anandji
    Interesting opinion..
    Is this true only for BR or for all over the Pune/India ?


    I cant agree to that formula... RE prices are very much related to Infra and Job Market... These have not been considered here...

    Boom in Wakad, Hinjewadi, Balewadi, Baner, Tathawade, Punawale, Ravet, Kiwale are all due to being in proximity to Hinjewadi... Else they are all just villages slowly turning to be like cities...

    Paying 55 lacs in Punawale or Tathawade for a 2 BHK apartment with no proper surroundings nearby and villagers taking their cattle on the road doesnt make sense.. Too hyped..
    CommentQuote
  • Originally Posted by souvik83
    I cant agree to that formula... RE prices are very much related to Infra and Job Market... These have not been considered here...

    Boom in Wakad, Hinjewadi, Balewadi, Baner, Tathawade, Punawale, Ravet, Kiwale are all due to being in proximity to Hinjewadi... Else they are all just villages slowly turning to be like cities...

    Paying 55 lacs in Punawale or Tathawade for a 2 BHK apartment with no proper surroundings nearby and villagers taking their cattle on the road doesnt make sense.. Too hyped..


    That advice is specific to BlueRidge only and should not be generalized.
    CommentQuote