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
    Prices in BR most likely have dropped...till last year...most of 3bhk were getting resold around 1.1 cr....heard few deals around 1.05 cr

    Not in a position to confirm if this is a general trend or just few deals

    BR Flat owners,

    What rights you have if builder demolishes the golf course and adds villa/tower in that space ? Is there anything in agreement which makes this questionable in court ?

    As far as I know, in special township act of mah, builder still owns the land. But he will still need approvals from local authorities, wouldn't he?

    Given that many luminaries of Mumbai have invested in BR ( incl tv actors) , it may not happen.
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  • Panorama view 3 bhk 1883 sq ft flat is up for sale at an all inclusive price of 1.05 cr from the builder himself. For this same flat they were quoting 1.2 cr around October last year.
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  • Also not sure why they were not able to sell these flats for so long. The flats that I saw were so dirty that it seemed like they have been ready to move in for ages.
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  • I checked with Brokers. The prices have indeed come down.

    Baruch also has asked a very pertinent question - What rights buyers have if builder demolishes the golf course and adds villa/tower in that space? Is there anything in agreement which makes this questionable in court? Can someone throw some light?
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  • Originally Posted by sanjibon
    I checked with Brokers. The prices have indeed come down.

    Baruch also has asked a very pertinent question - What rights buyers have if builder demolishes the golf course and adds villa/tower in that space? Is there anything in agreement which makes this questionable in court? Can someone throw some light?


    If prices are indeed coming down? what are the main pull factors here? and to what extent it will continue?

    considering reverse rough calculation, if prices of resale around 1CR for 3BHK, that roughly translates to ~ 5500 psf... whereas builder is selling at Rs 6000 psf (without negotiation)

    wondering if someone wants or intends to buy here. will he able to recover his money and decent return in 4-5 years?

    Thx
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  • Originally Posted by standard001
    If prices are indeed coming down? what are the main pull factors here? and to what extent it will continue?

    considering reverse rough calculation, if prices of resale around 1CR for 3BHK, that roughly translates to ~ 5500 psf... whereas builder is selling at Rs 6000 psf (without negotiation)

    wondering if someone wants or intends to buy here. will he able to recover his money and decent return in 4-5 years?

    Thx


    Hmm .. If you read my previous post I got an all inclusive quote of 1.05 cr from the builder himself for a 1883 sq ft panorama flat. You can do the maths. The price from the builder is definitely negotiable. From 1.2 they came down to 1.15 then to 1.09 and finally 1.05 cr. What they told me is that Paranjape is going to come out with an IPO soon and that's why they are offering their remaining inventory at a price which is lower than the ready reckoner rate.
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  • Hmm.. that's interesting...

    Yes, I read your earlier post :)
    Not sure when you have visited, I have visted 3-4 weeks back to sales office, and saw the same panorama view flat on Tower 12, 1st floor, they said around 1.12 CR (excluding fixtures). Since i was discussing with another resale flat i wanted to compare the rates which way it sliding the most (whether the direct builder or resale are slashing more)...the resale one similar size flat, last discussed rate was closer to 1CR.

    So i am wondering if this is good/bad time to buy in BR?

    My concern are
    - Very far from city and social infrastructure is not developed yet
    - Declining pricing trend with existing inventory, and once new tower are ready and available for sale, investors will start selling with marginal profit, which will put more pressure on psf.
    - high maintenance

    - Given the current scenario my bet is anything >92L (all inclusive) is a risk at this point.

    any other thoughts? anyone.


    Originally Posted by MIshi0214
    Hmm .. If you read my previous post I got an all inclusive quote of 1.05 cr from the builder himself for a 1883 sq ft panorama flat. You can do the maths. The price from the builder is definitely negotiable. From 1.2 they came down to 1.15 then to 1.09 and finally 1.05 cr. What they told me is that Paranjape is going to come out with an IPO soon and that's why they are offering their remaining inventory at a price which is lower than the ready reckoner rate.
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  • Originally Posted by standard001
    Hmm.. that's interesting...

    Yes, I read your earlier post :)
    Not sure when you have visited, I have visted 3-4 weeks back to sales office, and saw the same panorama view flat on Tower 12, 1st floor, they said around 1.12 CR (excluding fixtures). Since i was discussing with another resale flat i wanted to compare the rates which way it sliding the most (whether the direct builder or resale are slashing more)...the resale one similar size flat, last discussed rate was closer to 1CR.

    So i am wondering if this is good/bad time to buy in BR?

    My concern are
    - Very far from city and social infrastructure is not developed yet
    - Declining pricing trend with existing inventory, and once new tower are ready and available for sale, investors will start selling with marginal profit, which will put more pressure on psf.
    - high maintenance

    - Given the current scenario my bet is anything >92L (all inclusive) is a risk at this point.

    any other thoughts? anyone.


    Was 1.12 all incl or agreement cost only?

    I would consider seriously if I get at 1Cr all incl, even though maintenance is high and STA most likely means flat owner has no share in society, he is owner of flat only. It would be better deal than tcg or megapolis.
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  • Originally Posted by BaagadBilla
    Was 1.12 all incl or agreement cost only?

    I would consider seriously if I get at 1Cr all incl, even though maintenance is high and STA most likely means flat owner has no share in society, he is owner of flat only. It would be better deal than tcg or megapolis.



    ALL including.. 1.12
    base price * 5500
    rest taxes, he said stamp duty is 2.5% instead of normal 6%.. not sure if this correct or he made typing error.

    Thanks,
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  • Originally Posted by BaagadBilla
    Was 1.12 all incl or agreement cost only?

    I would consider seriously if I get at 1Cr all incl, even though maintenance is high and STA most likely means flat owner has no share in society, he is owner of flat only. It would be better deal than tcg or megapolis.


    What is the pull factor for you? when prices are declining or showing trend of going down.

    can you help confirm what is STA means?
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  • Originally Posted by standard001
    What is the pull factor for you? when prices are declining or showing trend of going down.

    can you help confirm what is STA means?

    Pull factor is that the scheme is good overall . Floor plans are good. Aesthetics are good. And earlier possession than other hinjewadi schemes. construction quality is okay enough - not very good but just good with occasional complaints.

    That is the only pull factor. If prices going down then negotiate for a better price.

    I think vicinity is ugly ( gaon type). poor infra.

    STA is special township act of mah state. Like magarpatta is. So basically builder owns everything. He probably even control who sells milk and newspapers and car wash apart from getting a cut from phone and broadband companies.
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  • One point to consider is that the 3BHK panorama flats are going cheaper by around 5-10% when compared to regular golf course facing 3BHK flat however not everyone will prefer the layout of a panorama flat as it is not a conventional one (You have a bedroom at the entry and Hall & Sittting areas are at the end).
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    1 Comments
    • getnishi1 years ago
      Which towers are have these panoramic 3 bhks? Thanks.
  • Originally Posted by standard001
    ALL including.. 1.12
    base price * 5500
    rest taxes, he said stamp duty is 2.5% instead of normal 6%.. not sure if this correct or he made typing error.

    Thanks,


    Negotiate harder. I got this offer around Gudi Padwa .
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  • ohk...Panorma lay out explains the difference in price....that is indeed the pathetic layout

    Positives of projects are well known....in fact rentals have spiked by 20-30% in last two years....earlier 3bhk were getting rented around 15k....its more like 20-21k now

    negatives

    even though Paranjape portrays it as its flagship scheme ( having their main office at entrance shows the commitment as well)...their is a risk that they will run down the product....cancelling the club house to make towers is surely not a good sign....and this constant rumor of golf course getting disbanded

    during my recent visit...I saw that landscaping of Megapolis Sngria is not getting well maintained while BR is doing fairly good job on greenery etc ( till few years I had opposite impression on Sangria vs BR on this front)
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  • Originally Posted by Baruch
    ohk...Panorma lay out explains the difference in price....that is indeed the pathetic layout

    Positives of projects are well known....in fact rentals have spiked by 20-30% in last two years....earlier 3bhk were getting rented around 15k....its more like 20-21k now

    negatives

    even though Paranjape portrays it as its flagship scheme ( having their main office at entrance shows the commitment as well)...their is a risk that they will run down the product....cancelling the club house to make towers is surely not a good sign....and this constant rumor of golf course getting disbanded

    during my recent visit...I saw that landscaping of Megapolis Sngria is not getting well maintained while BR is doing fairly good job on greenery etc ( till few years I had opposite impression on Sangria vs BR on this front)


    A friend lived till recently in a 3bhk for 15K. Rents are low. He shifted to sangria at same rent after the owner gave notice because he wanted to sell. It may be better to sell and reinvest the returns than earn measly rental of less than 2% after tax.
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