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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  • Baruch; can you please elaborate as to what do you mean when you say "cancelling the club house to make towers". Is the golf course club house not coming up?
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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)


    20-21k rental with 7k maintenance is just 14k roughly net rent per month. I think its way too less for a 3 bhk 1Cr property.
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  • Originally Posted by standard001
    20-21k rental with 7k maintenance is just 14k roughly net rent per month. I think its way too less for a 3 bhk 1Cr property.



    rental yield being low is a pan Indian RE problem and thats so visible to anyone who lived in western world...but that a separate discussion

    I was talking about uptick even when flat cost remained stagnant
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  • Originally Posted by sanjibon
    Baruch; can you please elaborate as to what do you mean when you say "cancelling the club house to make towers". Is the golf course club house not coming up?


    i think that decision is out for months now...guess you were not aware

    another thing they are not very clear and forthcoming coming about what will happen to those who paid 2-2.5 lakh for club membership in 2013-14 ?

    I always found builder very reasonable ( basis my experience with 3 other builders) and I hope he gives reasonable alternates to such people...killing the club altogether goes on the face who thought and bought project as semi-luxury....now it appears as group of 25 mass market flat towers...golf wont click....club is gone....riverside was always tough to execute as its a 6 month affair...so what are premium specs ?.....whole appeal is gone hence the pressure on pricing

    in fact most premium projects have a sense of closeness....BR in absence of gates between clusters looks too wide open...it gives a feel of being a pimple saudagr in itself....and there is no specs to differentiate

    at current price point of 1.05 cr at 3bhk...its comparable to any vanila 3bhk in PS or Balewadi...so market is giving its verdict
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  • Originally Posted by Baruch
    i think that decision is out for months now...guess you were not aware

    another thing they are not very clear and forthcoming coming about is what happens to those who paid 2-2.5 lakh for club membership in 2013-14 ?

    I always found builder very reasonable ( basis my experience with 3 other builders) and I hope he gives reasonable alternates to such people...killing the club altogether goes on the face who thought and bought project as semi-luxury....now it appears as group of 25 mass market flat towers...golf wont click....club is gone....riverside was always tough to execute as its a 6 month affair...so what are premium specs ?.....whole appeal is gone hence the pressure on pricing

    in fact most premium projects have a sense of closeness....BR in absence of gates between clusters looks too wide open...it gives a feel of being a pimple saudagr in itself....and there is no specs to differentiate

    at current price point of 1.05 cr at 3bhk...its comparable to any vanila 3bhk in PS or Balewadi...so market is giving its verdict


    hmm this is getting interesting. If so called top property/township is starting to slide down its prices and there does not seems any end to it. Given what you mention of closing of clubhouse, thinking of getting rid of golf course etc. I suspect whether this will have a spill over effect on the overall market prices on the nearby areas.
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  • Originally Posted by Baruch
    i think that decision is out for months now...guess you were not aware

    another thing they are not very clear and forthcoming coming about is what happens to those who paid 2-2.5 lakh for club membership in 2013-14 ?

    I always found builder very reasonable ( basis my experience with 3 other builders) and I hope he gives reasonable alternates to such people...killing the club altogether goes on the face who thought and bought project as semi-luxury....now it appears as group of 25 mass market flat towers...golf wont click....club is gone....riverside was always tough to execute as its a 6 month affair...so what are premium specs ?.....whole appeal is gone hence the pressure on pricing

    in fact most premium projects have a sense of closeness....BR in absence of gates between clusters looks too wide open...it gives a feel of being a pimple saudagr in itself....and there is no specs to differentiate

    at current price point of 1.05 cr at 3bhk...its comparable to any vanila 3bhk in PS or Balewadi...so market is giving its verdict

    I was under the impression that the golf ball design for the clubhouse was dropped - didn't know that the clubhouse as a whole has been binned. If that is true, then it is indeed sad. I was planning on taking up membership but this puts a spanner in the works. Do you have official communication regarding this?
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  • Originally Posted by bigbloodyt
    I was under the impression that the golf ball design for the clubhouse was dropped - didn't know that the clubhouse as a whole has been binned. If that is true, then it is indeed sad. I was planning on taking up membership but this puts a spanner in the works. Do you have official communication regarding this?


    there is nothing called official in Indian RE...builder will never say such things in writing
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  • Thanks Baruch;. I was not aware. Can you please suggest where this information is available or some pointers why you suggest so. I had frequented the sales office and enquired few days back and they had committed that it is still there and they even cannot think of disbanding the golf course. However we need to take it with a pinch of salt unless there is something concrete in writing. But will a reputed builder like PSPL take such a step and destroy his reputation? Also can the existing owners & senior members confirm.
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  • Originally Posted by sanjibon
    Thanks Baruch;. I was not aware. Can you please suggest where this information is available or some pointers why you suggest so. I had frequented the sales office and enquired few days back and they had committed that it is still there and they even cannot think of disbanding the golf course. However we need to take it with a pinch of salt unless there is something concrete in writing. But will a reputed builder like PSPL take such a step and destroy his reputation? Also can the existing owners & senior members confirm.


    Im not here for fear mongering...I own a flat as well and have skin in the game

    GC removal is just rumor among residents as of now....towers on site of club is more or less confirmed

    I too somewhere I believe builder will not short change....top family members have been personally involved in this project and they always look like trying make it their flagship project

    even their staff is very courteous and listening which is little rare in RE

    location is good...phase 2 of SEZ will make project even more in demand
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  • Was in India late March/Early April and visited friends at BR. Updates:

    - Number of residents, especially youngsters, have exploded. It is much livelier place now.
    - Lighting in Unit B (Tower 9-14) has improved. Now there is adequate lighting on the podium and basements. Looks like management finally decided to prefer security and safety over saving electricity costs.
    - One swimming pool was started in March. But I hear that later a notice was put up to shut it down again to conserve water. Did not understand logic of management. They shut down the pool throughout the year to conserve water and started the pool in March when dams had run dry and water shortage was increasing. And then after filling up the pool with water they will probably again throw all the water out to "conserve" water. I think management had simply used water conservation as an excuse to save expense on the pool. Looks like their original plan was to keep the pool shut for most of the year and keep it open only during school holidays.
    - Residents have received notice from Hinjawadi Gram Panchayat to pay property tax. Earlier assumption was that everything is covered in the TMA paid to builder. There was a court case that went in the Gram panchayat favour. I believe the residents were planning to appeal
    - Rents I hear are around 18K for larger 2BHK and around 20-21K for golf-course facing 3BHK.

    On other points raised I agree with Baruch
    - Technically the builder can do whatever he wants as he holds the FSI rights for 10 years. But I dont think he will kill the USP by building over the Golf Course
    - The towers instead of the imaginary sports club is almost confirmed.

    Regarding current costs (Resale properties, not builder sale)
    - 3 BHK (approx 1800 sq.ft), non-panorama were sold between 1.05 to 1.01 Cr. Volume is very low and average time on market is close to a year if asking price is anything above 1.05Cr
    - 2 BHK (larger) have asking prices between 90L to 1Cr. No one knows what is the real price as almost no deal has been closed recently.
    - Premium for golf-course facing property has dropped significantly. The new Towers have obstructed much of the view and people are reluctant to pay premium just to look at the golf course (which as the rumour says may also be at risk)
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  • So br buyer has to pay builder the maintenance under STA act and also pay property tax to the gram panchayat... ?

    Also I understand shutting down the pool but why the sports club?

    Anyway even 1 cr seems to be a high cost now if maintenance and taxes are costly and amenities golf course etc shut down. I still think golf course will continue.

    And to think of it, I got a quote of 1.2cr plus once from builder, about 3 yr ago. For 1700 sq ft saleable. Don't recall golf course facing or not.
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  • Forgot to add

    - Finger-scan and door locks are not working/not fixed yet. Security is practically non-existent. Anyone wishing to enter can come to basement 1 from the golf-course side road and then take lift from -1.

    - Fire detectors and other monitoring systems are still deactivated. God help residents in case of fire.
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  • Despite problems with BR currently discussed, what is the good price to buy 3 BHK flat currently either resale or from builder (RTM only)

    I am wondering if 5000/psf is a good price?
    Also, can anyone help me with other taxes and charges like
    Stamp - 2.5% or 6%?
    Reg - Rs 30k
    Society Trf/builder - Rs ?
    Other - ?

    Thanks
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  • Originally Posted by standard001
    Despite problems with BR currently discussed, what is the good price to buy 3 BHK flat currently either resale or from builder (RTM only)

    I am wondering if 5000/psf is a good price?
    Also, can anyone help me with other taxes and charges like
    Stamp - 2.5% or 6%?
    Reg - Rs 30k
    Society Trf/builder - Rs ?
    Other - ?

    Thanks


    Currently more than 15 3bhks are on the mmarket and many of them have been so for a long time. If you negotiate well you can get one between 95 to 98L in resale. If you are serious I will pm you an agent's details.

    As per my personal benchmark the fair price is ₹6600 per sq ft on Carpet area.
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