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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  • Hello,

    I don't see tower 20 and 21 under the RERA certificate. Any idea why it may still not be there? Also, it seems that they pushed the possession date of these towers to August as they have still not be been able to get the occupancy certificate. Anybody else who has booked in these towers spoken to tower Caretaker?

    Thanks.
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  • Hi.. I had visited this project last year and looked at 2bhks and 3bhks. There were both positives and negatives about the project. The negative in my opinion is that there seems to be hundreds of acres of land still available in that area. From the window of one of the flats, I could actually see farms!

    However I liked the overall layout and the size of flats. By Mumbai standards those are palatial.

    I need views on the following:

    1. What's the on going price of a mid floor golf course facing 2bhk ready to move apartment?
    2. Can I get it within 80 lakhs all inclusive - including govt taxes etc? For 1300 sqft apartment
    3. What are the current rentals and what is the maintenance cost per month?
    4. Are amenities such as gym, pool etc fully functional?
    5. Does the project have 24×7 water and power?
    6. How is the social infrastructure? Schools? Malls etc?
    7. What are the occupancy levels in % terms in the completed towers?
    8. How much has the price appreciated / depreciated over the past 1 year. What has been the change in rentals?

    Would really appreciate if I could get responses to these queries. Thank you.

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    • sanjibon9 months ago
      There are different flats at BR with very different orientations. Depending on the size, orientation, view, floor and interiors the cost of flats can vary upto 20%.This is based on my search.
  • Originally Posted by Chinuboy

    ...

    I need views on the following:

    1. What's the on going price of a mid floor golf course facing 2bhk ready to move apartment?

    Recently, a golf course facing 3 BHK corner flat went for 96L all inclusive. calculate approx price for 2 BHK based on areas.

    2. Can I get it within 80 lakhs all inclusive - including govt taxes etc? For 1300 sqft apartment

    Should be possible. if not now, then in some time. Depends on your need and negotiating power.

    3. What are the current rentals and what is the maintenance cost per month?

    Defer that to @pnq2012;

    4. Are amenities such as gym, pool etc fully functional?

    Defer that to @pnq2012;

    5. Does the project have 24×7 water and power?

    Yes, most of the times. However there are days when issues pop up and then water issues can last for a few days. Power is not an issue.

    6. How is the social infrastructure? Schools? Malls etc?

    No malls within the township. There are lots of shops. School is good if your kids is interested in performing arts. For academics, the school is good till around 6th grade. Most higher grade parents seem unhappy.

    7. What are the occupancy levels in % terms in the completed towers?

    Overall occupancy in Unit A+B should be around 75-80%. Owners may be in 10-15% range, rest are rentals. Due to recent spike in rentals, most renters are bachelor groups now.

    8. How much has the price appreciated / depreciated over the past 1 year. What has been the change in rentals?

    Defer that to @pnq2012;

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  • Originally Posted by sudhashbahu


    Recently, a golf course facing 3 BHK corner flat went for 96L all inclusive. calculate approx price for 2 BHK based on areas.

    Should be possible. if not now, then in some time. Depends on your need and negotiating power.

    Defer that to @pnq2012;

    Defer that to @pnq2012;

    Yes, most of the times. However there are days when issues pop up and then water issues can last for a few days. Power is not an issue.

    No malls within the township. There are lots of shops. School is good if your kids is interested in performing arts. For academics, the school is good till around 6th grade. Most higher grade parents seem unhappy.

    Overall occupancy in Unit A+B should be around 75-80%. Owners may be in 10-15% range, rest are rentals. Due to recent spike in rentals, most renters are bachelor groups now.

    Defer that to @pnq2012;



    @sudhash

    Thanks a ton! Much appreciate your detailed inputs to each of my queries.

    Will probably visit again this year and check it out.. am really fascinated with the nice views from the flats.. having held back last year really worked well since what ever small investment was made into equity has really done well..

    I actually have no need for another house and I stay and work in Mumbai.. am always on the lookout for investments which I can afford. I just feel interest rates will nose dive.. We've already seen a situation where prices have been very stable and HL rates have fallen by 200 bps over the last 3 yrs.. so maybe with leverage at say 6% and rentals at gross 3% (20k p.m = 2.4 lakh per annum for an 80 lakh property) we may find more traction at least for some of the sought after properties .. at that point some of these marquee properties may look attractive.

    Can u also let me know if the stamp duty rate for this project is 2.5% ? Since I read this in earlier posts in this thread. Thank you
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    • GlobeSon9 months ago
      for someone playing in the equity markets, a house purchase in Pune should be an absolutely dud investment. I am surprised you would even look at this option.
      The appreciation and demand for BR is completely driven by mid and senior level IT professionals based in Hinjewadi, whose jobs will be extinct in the years to come.
  • On the maha-rera website (https://maharerait.mahaonline.gov.in/) for the "Blue Ridge Project C Land T18 and T19" project they have mentioned that, this project has 'Litigations'. Any idea about these litigations?
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    • amit12131 months ago
      Hi Postga,

      I am looking to book a flat in T18/19. But as pointed by you, I can see the litigations on the said land. Were you able to get information on this?
  • I am thinking about buying a 2bhk in Blue Ridge. This is not for investment; I am going to stay there.

    To know more about the project or community, I searched for a Blue Ridge facebook group. I was disappointed to see Blue Ridge facebook group has only 40 members and it is not active group. Other townships like Megapolis, Nanded City or Magarpatta City has thousands of active facebook group members in their respective groups.

    I really wonder, why Blue Ridge does not have active large facebook group?
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    • postga9 months ago
      @sanjibon
      Thanks for your response.

      I tried joining apartment adda but it seems that, only owners or tenants are allowed to join.
  • Why does anyone even want to buy a underconstruction property? The transaction cost is way too high compared to resale..especially in large projects like this with so many listings for resale.. can anybody please confirm on the stamp duty rate for this project?
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  • Hi @GlobeSon point taken. However, it doesn't hurt to keep an eye on some of the more unique properties. This one appealed to me because of the layout and golf course view which I personally liked. I probably won't buy any real estate for a long time, but doesn't mean I won't keep a watch.
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    • mankaj9 months ago
      @cautiousone I partially agree :) Selling flats as per carpet area doesn't mean whatever was quoted as 5K psqft on super buildup becomes 5K psft on carpet area post-RERA :) RERA compels builders to draft their sell agreements on the 'Carpet Area' of the flat. As per RERA Carpet Area excludes terraces, balconies, enclosed balconies and area covered by external walls but includes the area within & occupied by internal walls :) So if you look at a RERA compliant agreement, it will have all the above areas like - carpet, enclosed balcony, balcony, terrace exactly drafted! Pre-RERA builders could use their own definition for Carpet Area :) So when the builders offer you a flat they can quote the rate with whatsoever gimmick as per their sales strategy (by putting terms like loading or offloading ;) ) But their offer & agreement has to clearly mention the 'Carpet Area' as per RERA guidelines! The intelligent buyer should just divide the final agreement value by the total Carpet Area to know his/her real rate!
  • Originally Posted by Chinuboy
    Why does anyone even want to buy a underconstruction property?

    This is what you get for under construction property ...
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  • Originally Posted by sudhashbahu

    This is what you get for under construction property ...


    Lol.. seriously.. and u can negotiate really hard with individual sellers in a slow market.. do u know the stamp duty rates for this area? Is it 2.5% or the regular 5 or 6%?
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  • The stamp duty of 2.5% is applicable only for the first sale by the builder. For resale the usual market stamp duty is applicable.
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  • Originally Posted by postga
    I am thinking about buying a 2bhk in Blue Ridge. This is not for investment; I am going to stay there.

    To know more about the project or community, I searched for a Blue Ridge facebook group. I was disappointed to see Blue Ridge facebook group has only 40 members and it is not active group. Other townships like Megapolis, Nanded City or Magarpatta City has thousands of active facebook group members in their respective groups.

    I really wonder, why Blue Ridge does not have active large facebook group?


    That is because people do not like to cry publicly about their failed investments. Moreover, once you buy into a scheme/project, you become a owner and your interest is in safeguarding the reputation/image of the project so that the value of your property does not go down.
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    • GlobeSon9 months ago
      I like property buyers' ingenuity of putting themselves at the mercy of builders by buying into townships, and then doing online petitions and candle light morchas ! Great way to keep oneself occupied.
  • Had been to visit friends at BR this weekend.

    1. Some people fear that during monsoons, the river may rise and flood some buildings of BR that are situated along the river. This fear is totally unfounded. In all these years the river has not come any closer to any BR building. The water is more likely to flow over to the opposite bank.

    2. Some people fear mosquitoes. This fear is grounded in reality. Seems mosquitoes have exploded. The culprit seems to be the foundation excavation for future towers near the school

    3. There was a "security incident" related to a child playing near T12/13. When people tried to use the feed from the cameras to determine the culprit, they found that none of the cameras actually record. Security is a big issue: The fingerprint scanners are non functional, camera function but don't record (= almost non functional).

    4. Fire detectors and alarms are non-functional

    5. One swimming pool is shut down.

    6. New management of Unit B is still trying to collect deposit of Rs 10000 from tenants

    7. Age has started to show on the older Buildings now T1-6/T12-14

    8. Builder seems to be treating Unit B (T9-14) like a step child as compared to Unit A (T1-8). The walkway along the golf-course is green and well maintained along T1-8 and totally wild and unkempt along T9-14.

    9. New HDFC branch has opened.

    10. Fountains and lights along fountains are shut down.

    Anyone planning to buy resale in Unit A or Unit B must evaluate the financial condition of the societies. As buildings grow old and maintenance costs increase, will they be able to sustain?
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    • GlobeSon9 months ago
      talking about financial condition of societies, is there even a society?
  • Thanks @sudhashbahu - great info and insights. That's the issue with large projects. Unless it's maintained impeccably, the charm is completely lost. What's the feedback from your friends who stay there?
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