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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 humble_guy View Post
    I have visited Blue Ridge around 8 times, at various times of the day/evening and overnight. The only cars i saw were Maruti, Tata, Ford, Honda, Fiat... Yet to see even the cheapest BMW or Audi worth 30L in the Blue Ridge complex or parking levels.

    Infact a large portion of the parking levels had deserted slots which were just empty all the times. So it seems a bulk of people even waiting to buy their 1st car, renters perhaps?.

    The above is not the most scientific analysis and mostly anecdotal, but yet...

    PS: i would love to be proved wrong here, if someone staying in BlueRidge can post some pictures of the parking levels with even a few 30L+ cars visible.. leave alone the 74L Audi. It would be really nice.
    >>Infact a large portion of the parking levels had deserted slots which were just empty all the times. So it seems a bulk of people even waiting to buy their 1st car, renters perhaps?.

    Like I posted earlier. My team mate lives in BR as tenant. About half of current residents are tenants.

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

      Originally posted by Sat234 View Post
      >>Infact a large portion of the parking levels had deserted slots which were just empty all the times. So it seems a bulk of people even waiting to buy their 1st car, renters perhaps?.

      Like I posted earlier. My team mate lives in BR as tenant. About half of current residents are tenants.
      It proves the theory that major buyers are investors in the project. Responsibility of managing the society will come on the shoulders of the resident owners who will be say 50% or less. This will put a lot of pressure on them as tenants generally do not have a sense of ownership and will not be that passionate about maintaining the society. If there tenants comprise of bachelors, then

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

        Few investors may their flats as a guest house to companies to extract more income. If this happens then it will be same as living in hostel with family

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

          Neighbor's envy ...owner's pride
          Attached Files

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

            Originally posted by lazybone007 View Post
            It proves the theory that major buyers are investors in the project. Responsibility of managing the society will come on the shoulders of the resident owners who will be say 50% or less. This will put a lot of pressure on them as tenants generally do not have a sense of ownership and will not be that passionate about maintaining the society. If there tenants comprise of bachelors, then

            >> Responsibility of managing the society will come on the shoulders of the resident owners who will be say 50% or less.

            It comes under STA so no point of society.

            BTW, who owns the land on which the township stands. The builder ? Or the flat owners collective ?

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

              Originally posted by Baruch View Post
              Neighbor's envy ...owner's pride
              For the benefit of the tenants !!

              So, in BR, you have flats being sold for over 1.3 Cr, which fetches a paltry rent of 15000 per month. The owner pays for the maintenance of the township (at least 2000 Rs per month ?). So that the tenants enjoy the golf course view.
              Last edited by Sat234; January 24 2014, 01:58 PM.

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

                Originally posted by Sat234 View Post
                For the benefit of the tenants !!

                So, in BR, you have flats being sold for over 1.3 Cr, which fetches a paltry rent of 15000 per month. The owner pays for the maintenance of the township (at least 2000 Rs per month ?). So that the tenants enjoy the golf course view.
                Sat234,
                You have not factored in property tax in this calculation.On average, the property tax for 3 BHK in PCMC comes out to be 2.5k-3k per month and maintenance at 3-4k! Even if one buys a flat he has to shell out around 7k per month which is almost half of the rent amount.

                Renting in BR or in Pune for that matter is much better option than buying.

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

                  From various posts it appears large number of flats has been bought by investors. The number of end user is less. Investors are finding it difficult to search new buyers, so they are putting their units on very small rents. In futures with lunch of more & more units the difficulty in searching new buyers will further increase . The price will be controlled by the builder, banks will provide loan more easily for new units sold by builder due to builder- bank link. Finally it will become difficult for the investors to sell their units & this will lead to distress sell.

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

                    Originally posted by poddar View Post
                    From various posts it appears large number of flats has been bought by investors. The number of end user is less. Investors are finding it difficult to search new buyers, so they are putting their units on very small rents. In futures with lunch of more & more units the difficulty in searching new buyers will further increase . The price will be controlled by the builder, banks will provide loan more easily for new units sold by builder due to builder- bank link. Finally it will become difficult for the investors to sell their units & this will lead to distress sell.

                    Wait till the launch of the new bigger township by Mr P in an even bigger land parcel very near to Blue Ridge. They have great plans for it. It would make Blue Ridge look pale in comparison. Many permissions are in process, and some topnotch international consultants are already going through a tender process.


                    Once the last 5 towers are launched in Blue Ridge, the sales would immediately move to the new township. The builder has already sold the SEZ-1 at Blue Ridge, while the negotiations are on for selling the Sez-2 at Blue Ridge. And Mr P will have his work completed with Blue Ridge, no more marketing support, advertising or sales push, as the resales would hurt the fresh sales for the new township. Though it would not affect the end users or the tenants but this would make the bottom fall out of some of the irrational BR investors from their path of greed.

                    PS: one person i know has a 3 bhk on sale for over an year now, but only a few inquiries, the only quotes he received from a very few serious buyers were at least 15%-20% less than his expectations some even 30%. So.. it stays on sale for the next x years, while he pays nearly 70k emi per month, but he still feels smart that he has made so much profit from his investment, even though these are just on paper
                    Last edited by humble_guy; January 26 2014, 12:48 AM.

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

                      Originally posted by humble_guy View Post
                      Wait till the launch of the new bigger township by Mr P in an even bigger land parcel very near to Blue Ridge. They have great plans for it. It would make Blue Ridge look pale in comparison. Many permissions are in process, and some topnotch international consultants are already going through a tender process.


                      Once the last 5 towers are launched in Blue Ridge, the sales would immediately move to the new township. The builder has already sold the SEZ-1 at Blue Ridge, while the negotiations are on for selling the Sez-2 at Blue Ridge. And Mr P will have his work completed with Blue Ridge, no more marketing support, advertising or sales push, as the resales would hurt the fresh sales for the new township. Though it would not affect the end users or the tenants but this would make the bottom fall out of some of the irrational BR investors from their path of greed.

                      PS: one person i know has a 3 bhk on sale for over an year now, but only a few inquiries, the only quotes he received from a very few serious buyers were at least 15%-20% less than his expectations some even 30%. So.. it stays on sale for the next x years, while he pays nearly 70k emi per month, but he still feels smart that he has made so much profit from his investment, even though these are just on paper
                      Correct picture of the situation. Feel good factor only on paper. Good appreciation on paper without real buyer.

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