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,

    Anybody heard or got any updates from Blueridge on T20/T21 possession? I was told August and have not received any communication. It has already been changed twice this year.

    Its been 5 years I booked my flat and still waiting.

    Appreciate any response

    Thanks in Advance!
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    1 Comments
    • mankaj4 months ago
      When I had been to BR office to purchase a ready possession flat last December I was told that T20/21 will be ready in Dec 2018. Its strange that T20/21 is not registered under RERA if its not completed as yet!
  • Thanks, Mankaj.
    You are right I don't see it registered under RERA and the reason I was given is that because the construction is complete and it's a matter of getting Occupancy Certificate and start giving possession it's not registered under RERA.

    I got a Comfort letter in 2013 saying that I will have the possession of my flat no later than Dec 2017 but not sure if that carries any weight age if its gets delayed further.

    Thanks!
    CommentQuote
    1 Comments
    • mankaj4 months ago
      One typo from my earlier post - they had told me that the possession was in Dec 17. And when I had seen T20/21 last year the building structure seemed 80% ready. But since ready posession was available in other towers I didn't go for it.

      I didn't know that people have booked their flats before 5 years :)

      For your neighboring towers they gave possession in ~ Nov/Dec 16 - around Diwali time. Hope they do the same for T20/21 as well.
  • Ok, I now feel better knowing it's not 2018.
    Yeah, it's been 5 years and I was told that they will complete by 2015 at the time of booking. I hope they give it in next 2-3 months.
    After this, I will never suggest anybody buy a property where construction is yet to begin even if its a reputed builder.:(
    CommentQuote
  • Hi All, I am planning to buy a resale 3BHK flat in Unit A( T1-8) and have been quoted a price of around 1cr all inclusive (after negotiation). This is a non golf course facing flat on lower floor. Can someone help in determining if this is a decent price. What is the monthly maintainence charges in this Unit. I am told that maintanence charges in this unit is lowest (around 4500 for 3 bhk) and other units are charging anywhere between 5500-6500 for a 3 bhk flat. Thanks in advance
    CommentQuote
  • Originally Posted by askmeby
    Hi All, I am planning to buy a resale 3BHK flat in Unit A( T1-8) and have been quoted a price of around 1cr all inclusive (after negotiation). This is a non golf course facing flat on lower floor. Can someone help in determining if this is a decent price. What is the monthly maintainence charges in this Unit. I am told that maintanence charges in this unit is lowest (around 4500 for 3 bhk) and other units are charging anywhere between 5500-6500 for a 3 bhk flat.

    Thanks in advance
    Hello @askmeby

    could you complete the deal? What was the last price you could negotiate upto?

    Seniors & Experts - can you please confirm if this quote is reasonable. I am also interested in resale options in tower 1-8. Why so much silence on this thread since many weeks now?

    @pnq2012 can you please confirm the ongoing rates and activities? some brokers are claiming that recently (5-10 months), rates at BR have started to see a marginal increase..can you please confirm?
    CommentQuote
    1 Comments
    • hitmady27 days ago
      Generally industrialist/businessman when investing in India plan to break-even cost in 8 yrs. If one can break-even i.e. EMI = Rent in same period then go-ahead. Note: One can anyway avail HRA, 80CC deductions while living in the same property on rent.
      Personally I won't put more than 35% of my-networth in property for self-use. I will put 15% in short-term and 40% savings in retirement funds.
  • Hello All,

    I'm sorry but I do not know what the resale prices in Blue Ridge are nowadays. I typically go with what the builder is offering and from what I know, the rate has been stagnant & is quoted at around 6000 per sq. ft. So that can be used as a baseline when negotiating a resale flat. However, considering that there are no 3 BHK flats available from the builder in existing towers 1-8, the resale quoted price will definitely be a bit higher.

    Also note that the carpet areas for 3 BHK flats can be different. So I don't think one can simply generalize by saying that 3 BHK is available for 1 cr. A 100 sq. ft difference could mean +/- 6 lacs. So if one negotiates using the rate, then it could help reduce few lacs.

    Maintenance in Blue Ridge averages between 3.5 to 4.5 per sq. ft depending upon the size of flat. With GST applicable on housing societies, the maintenance structure has changed considerably. So the rate may go up.

    Possessions have started in towers T20-23 & from what I know, there are no river side facing flats available. Work has been slow for towers T18 & T19 although the river side garden is being developed. It seems that the lofts or 1 BHK studios had lot of demand. So the focus is now to develop the area next to the sales office where a 3-4 level shopping mall was planned. This could delay the construction of towers T15-T17.

    I agree 100% that in this market, one should only look for RTM flats.

    Hope that helps.


    CommentQuote
  • Originally Posted by pnq2012
    Hello All,

    I'm sorry but I do not know what the resale prices in Blue Ridge are nowadays. I typically go with what the builder is offering and from what I know, the rate has been stagnant & is quoted at around 6000 per sq. ft. So that can be used as a baseline when negotiating a resale flat. However, considering that there are no 3 BHK flats available from the builder in existing towers 1-8, the resale quoted price will definitely be a bit higher.

    Also note that the carpet areas for 3 BHK flats can be different. So I don't think one can simply generalize by saying that 3 BHK is available for 1 cr. A 100 sq. ft difference could mean +/- 6 lacs. So if one negotiates using the rate, then it could help reduce few lacs.

    Maintenance in Blue Ridge averages between 3.5 to 4.5 per sq. ft depending upon the size of flat. With GST applicable on housing societies, the maintenance structure has changed considerably. So the rate may go up.

    Possessions have started in towers T20-23 & from what I know, there are no river side facing flats available. Work has been slow for towers T18 & T19 although the river side garden is being developed. It seems that the lofts or 1 BHK studios had lot of demand. So the focus is now to develop the area next to the sales office where a 3-4 level shopping mall was planned. This could delay the construction of towers T15-T17.

    I agree 100% that in this market, one should only look for RTM flats.

    Hope that helps.


    @pnq2012 Thanks for your detailed reply! This really helps.

    Does carpet area for Tower 1-8 3BHKs vary? I thought all are same.

    Is that proposed 3-4 level shopping mall official now? Last I checked, builder is not commiting; not sure why builder would like to maintain secrecy on that.


    CommentQuote
  • Originally Posted by IndianPundit
    Originally Posted by pnq2012
    Hello All,

    I'm sorry but I do not know what the resale prices in Blue Ridge are nowadays. I typically go with what the builder is offering and from what I know, the rate has been stagnant & is quoted at around 6000 per sq. ft. So that can be used as a baseline when negotiating a resale flat. However, considering that there are no 3 BHK flats available from the builder in existing towers 1-8, the resale quoted price will definitely be a bit higher.

    Also note that the carpet areas for 3 BHK flats can be different. So I don't think one can simply generalize by saying that 3 BHK is available for 1 cr. A 100 sq. ft difference could mean +/- 6 lacs. So if one negotiates using the rate, then it could help reduce few lacs.

    Maintenance in Blue Ridge averages between 3.5 to 4.5 per sq. ft depending upon the size of flat. With GST applicable on housing societies, the maintenance structure has changed considerably. So the rate may go up.

    Possessions have started in towers T20-23 & from what I know, there are no river side facing flats available. Work has been slow for towers T18 & T19 although the river side garden is being developed. It seems that the lofts or 1 BHK studios had lot of demand. So the focus is now to develop the area next to the sales office where a 3-4 level shopping mall was planned. This could delay the construction of towers T15-T17.

    I agree 100% that in this market, one should only look for RTM flats.

    Hope that helps.


    @pnq2012 Thanks for your detailed reply! This really helps.

    Does carpet area for Tower 1-8 3BHKs vary? I thought all are same.

    Is that proposed 3-4 level shopping mall official now? Last I checked, builder is not commiting; not sure why builder would like to maintain secrecy on that.


    You are correct. The area for 3 BHK flats in towers 1-8 is the same. They differ for towers 9-14. I'm assuming that the carpet area is at least 1500. In that case, if you apply a rate of 6500, then price comes to around 1 cr. My guess is that for a project like BR, under current circumstances, resale rate will always be more expensive than builder rate.

    As for the shops, work has started for building 9. You can check the progress on the website. That is where the first few floors will be dedicated for shops as per the original plan. I cannot speak for the builder but the only reason they do not confirm is probably because the plan keeps changing. Point is that they have prioritized the building 9 over the towers 15-17 because there is huge demand for the Lofts, studio apts and small area apartments. Most of it is investment however as per IREF experts, it is not a wise investment with not good returns.


    CommentQuote
  • Originally Posted by IndianPundit
    Originally Posted by askmeby
    Hi All, I am planning to buy a resale 3BHK flat in Unit A( T1-8) and have been quoted a price of around 1cr all inclusive (after negotiation). This is a non golf course facing flat on lower floor. Can someone help in determining if this is a decent price. What is the monthly maintainence charges in this Unit. I am told that maintanence charges in this unit is lowest (around 4500 for 3 bhk) and other units are charging anywhere between 5500-6500 for a 3 bhk flat.

    Thanks in advance
    Hello @askmeby

    could you complete the deal? What was the last price you could negotiate upto?

    Seniors & Experts - can you please confirm if this quote is reasonable. I am also interested in resale options in tower 1-8. Why so much silence on this thread since many weeks now?

    @pnq2012 can you please confirm the ongoing rates and activities? some brokers are claiming that recently (5-10 months), rates at BR have started to see a marginal increase..can you please confirm?
    Came to know of a 3BR deal that was closed in 84L. This is confirmed news, although i do not have carpet area details of the flat.
    CommentQuote
  • Originally Posted by GlobeSon
    Originally Posted by IndianPundit
    Originally Posted by askmeby
    Hi All, I am planning to buy a resale 3BHK flat in Unit A( T1-8) and have been quoted a price of around 1cr all inclusive (after negotiation). This is a non golf course facing flat on lower floor. Can someone help in determining if this is a decent price. What is the monthly maintainence charges in this Unit. I am told that maintanence charges in this unit is lowest (around 4500 for 3 bhk) and other units are charging anywhere between 5500-6500 for a 3 bhk flat.

    Thanks in advance
    Hello @askmeby

    could you complete the deal? What was the last price you could negotiate upto?

    Seniors & Experts - can you please confirm if this quote is reasonable. I am also interested in resale options in tower 1-8. Why so much silence on this thread since many weeks now?

    @pnq2012 can you please confirm the ongoing rates and activities? some brokers are claiming that recently (5-10 months), rates at BR have started to see a marginal increase..can you please confirm?
    Came to know of a 3BR deal that was closed in 84L. This is confirmed news, although i do not have carpet area details of the flat.
    Really?

    can you confirm at least that this is not the compact 3BHKs from B- series towers??
    CommentQuote
    3 Comments
    • GlobeSon1 months ago
      Like i said, i do not have the area details. Assume its a small 3BHK and figure out what per sqft rate it yields.
      note that personal experience shared by @NG2012 matches with my figures.
  • Maintenance is too high in this project. You buy a 3 BHK for 1 cr and rent it out for 25K. Less Maintenance, you would get 18 to 19K. It is better to put 1 cr in FD and get 5L interest post tax..
    CommentQuote
    4 Comments
    • Deepak Singh1 months ago
      You are right @IndianPundit,
      My analogy was wrong. FD atleast moved positively unlike flat price in Blueridge where one cant even get 2013 price.
  • As a owner of a flat in blueridge, I can tell that prices have become stagnant if not spiralled down. I have 2 BHK in tower 21 that I purchased for 82 lakhs in 2013 (with some modifications like larger tiles and better fixtures). I am trying to sell it off for 88 lakhs and no success in last four months. The best offer I got was 85 lakhs (+ stamp duty and registration) and I am considering to sell it off for that price. Even if I had kept it in FD, I would have gotten far better returns (after considering staggered slab-wise payments). While I had purchased it for self use, situation changed.
    While good deals can be had now, 84 lakhs for 3 BHK in regular sized flats (1600-1800 sqft), its a seriously good deal. I would rather buy than sell in this market.
    CommentQuote
    3 Comments
    • NG20121 months ago
      From investment point of view it probably is a bad deal. Most people cannot tell the future. Real estate and gold are traditional investment vehicles and both are doing badly in last 4-5 years. On the other hand stock market is booming (PE of 26+).

      Which way the financial future of this country goes is hard to say. If tomorrow IT industry falters and IT companies close their shops, RE and stock market will crash and gold will (probably) rise. IT industry is already showing the sign of weakness and so RE in IT sensitive areas is going to be adversely affected.
      If Indian IT engineers do something remarkable and raise the bar, stock market, RE, hotel industry, restaurant industry in the sensitive area will recover. Let's see what the future brings.
      The receding tide has started.
  • Hi All,

    After painful wait of 5 years I'm getting my possession in Tower 20.

    Does Blueridge provide any checklist at the time of possession?

    I have been asked to pay 6 months maintenance is Advance effective this month only. Shouldn't it start from date I actually get possession versus I getting intimation.

    It will be great if somebody can share their experience and things we should look out for during possession in BR.

    Thanks in Advance
    CommentQuote
    1 Comments
    • bhajo201229 days ago
      Best option would be to visit the Tower and meet existing Owers staying there and get on the ground details
  • Congratulations!!! Pain will be forgotten soon. I hope you like Blueridge. I am staying here for last one year (in another tower) and I find it good.
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    1 Comments
    • GlobeSon28 days ago
      sounds like it hurts less after a year, than on day one.
  • Had been to BR over the weekend. Observation updates:

    - Tower 22 & 23 occupancy has increased. Towers 20 and 21 are also catching up.
    - Landscaping in front of Towers 20-23 and near the river has started. It's going to look good when done
    - Last time I had visited, the fountain between Tower 8 and 9 was working and many folks used that as a meeting place in the evening. The fountain is not working and the place was deserted. Heard that the fountain is out of order for months now.
    - The Marina and riverside garden is closed. It's November and the rains are long gone. Not Sure what they are waiting for to re-open.
    - Some swimming pools not working
    - No water in houses. Seems water is regularly switched off for few hours during the day due to some infrastructure issues. This has been on for several days now.
    - On the walkway adjacent to the golf course, the part near Tower 1-8 is landscaped. The part neat T9-14 is wild and unkempt. These towers have been operational for over 5 years now. Not sure why builder is giving step-motherly treatment to these towers.
    - Fire detection and sprinkler system is not active. Towers are death traps in case of fires. Not sure what "muhurat" the residents are waiting for to fix this.
    - Security systems not active (for years now)


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    3 Comments
    • NG201227 days ago
      I agree with you. The guards do assess people based on their attire and behaviour. Yes, security system needs to be in place. It seems like recurrent monthly charges are putting off the implementation of the security system. The new MC is aware of it and I am hopeful that it gets implemented. Right now the screens inside homes are just for decoration!