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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  • hi Friends

    i am looking to buy a 2bhk flat in Blue Ridge. can you suggest me, whom should i contact. I am NRI and i am interested in mid to high rental yield ( expectation is 3%). any suggestions will be appreciated.

    thanks

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  • Pune has supassed its tipping point and even if new areas get developed, the city will be under tremendous stress.

    In Blue Ridge, we can see that now. It has already affected the rates. Appreciation is merely 2% to 3% per year, in last 2 years. Way below FD rates & if you account for the maintenance, then still way lower.


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    • kumarpraveen1 years ago
      Not only Blue Ridge, everywhere in Pune its the same scenario. Prices are almost stagnant or max 2..3 % app. In fact if maintenance is more as in some societies, you end up in negative returns. My flat has not appreciated since last 3 years.
  • Originally Posted by CautiousOne
    Originally Posted by sudhashbahu
    My colleague had a very interesting experience this weekend. He shared it with us as a joke and I am sharing here with his permission.

    .
    .
    .
    .

    Agent: Sir, Seller wont reduce price. You may not be stupid but there are enough stupid people who don't do maths. He will sell it to them.


    LOL. Well, what agent said is sadly true. There is strong goon aka agent lobby holding rates even for apartments for rent in Blue Ridge. Over the time, they have brought rates at par Pimple saudagar in certain cases, despite no facilities at par. Their commission is increasing to around 2-3 months rent (from both owner and leaser). None the less to say, all this is going as black money, as hardly any of these have registered firm. If you (dare to) ask, they provide a receipt, which you can plainly make out as fake (without receipt number, company registration number missing, no tax details etc). With IT and Symbiosis around, people who are looking for quick accommodation are lot, and these people take advantage of it, being in vicinity. None the less to say stupid people like explained in above example they trap. If you try to search out the ringleader for these scams, you would eventually end up to any political goon family from gaon, who has 'connections' and hafta going till top. If you make complain about deal and try to reason, 'truck bharun manasa aanto marayala' (will bring truck-ful of goons to beat you up) is always there.
    The entire real estate syndicate consists of goons - builders, agents, white scorpio guntha-mantris and political bigwigs.

    Their extended circle consists of bank officers and bureaucrats.

    I am glad that after demonetization and RERA, their nexus is cracking up.
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  • Corruption works both ways. Our, so called, educated IT folks, rent out flats for 4 people when they sign the lease but then start accomodating more folks, thus reducing their monthly share. Societies do not have the authority or capability to check each and every flat. Owners do not care as well because they get the money.

    Then, the friends of the folks renting the flat, also land up using the amenities - gymnasiums, swimming pools, activity rooms etc.

    And then you have guest houses, where anyone can book them online like hotel rooms. That is how many illegal activities also take place.

    There is not much you can do to stop all this.


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    • GlobeSon1 years ago
      The best way is to not make big ticket investment into societies/townships with ultra modern amenities unless one is really certain of living there. The rental value does not justify the use of these amenities, while the owner continues to pay for the maintenance, upkeep and taxes.
  • How is the situation / experience at Blueridge? Has the township met the expectations or are current residents rueing their decision?
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    • GlobeSon1 years ago
      I suggest you go through all pages of this thred. You will have your answers
  • Hoping this thread is still active, I am planning to buy a 2 bhk flat in Blueridge.

    I have few questions,

    1) The sales offices are offering me "No pre-emi till possesion" scheme. How is the past experience of paranjape builders specifically for these schemes? Are there any defaults by builder while paying the pre-emis?

    2) The sales person is telling me that the posssion will be in the year of 2021 but RERA says 2023. I am also seeing that for tower 22,23 early possesion was given. Can anyone share their experience on this?
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    • GlobeSon1 years ago
      D.S.Kulkarni developers was a (so-to-say) reputed builder. He stopped paying 'pre-emi till possession' and landed in jail. Flat buyers do not have possession (nor any hopes), banks have disbursed 80-90% loan amount to builder while actual construction progress is only 20%; banks are now chasing gullible flat buyers.
  • Originally Posted by user1999
    Hoping this thread is still active, I am planning to buy a 2 bhk flat in Blueridge.

    I have few questions,

    1) The sales offices are offering me "No pre-emi till possesion" scheme. How is the past experience of paranjape builders specifically for these schemes? Are there any defaults by builder while paying the pre-emis?

    2) The sales person is telling me that the posssion will be in the year of 2021 but RERA says 2023. I am also seeing that for tower 22,23 early possesion was given. Can anyone share their experience on this?


    When there are so many ready possession flats are available, why go for under construction flat? Paranjape may be a reputed and good builder but there is always some risk associated with under-construction. The risk will become meaningful if the reward is large enough.
    No pre-EMI will save the interest but remember the loan is on your name.

    If RERA document says 2023, it will be in 2023. Tower 21 had possessions as per RERA (in Dec 17). Tower 22-23 got somewhat early possession as 20-21 got stuck for permissions for five more floors. Don't take it as a norm. Sales agent and his supervisor who you are talking to will not be there in 2021 so only thing you have is an agreement (with 2023 as a date of possession).
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  • The township is still struggling. The general upkeep is not happening. The township is flouting all anti-pollution rules by not keeping the area clean, causing dust pollution due to construction and excavation, because of which air quality has deteriorated. Debris is openly dumped within the township premises. Garbage is not properly managed in the newer societies. Traffic situation has worsened because of too many private cabs and autos using the township as a parking place.

    The township has exceeded its capacity and with more construction happening, this will only get worse.
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  • We recently bought a 3 bhk in Unit - B and just now found out that builder has issued same parking slots to multiple flats... Society says they cant do anything, sort it out with builder only.. Chasing builder since December but to no avail as of now... it is very shocking to know/face that such reputed builder will also indulge in such things.. and this is the case with atleast 8-9 flats in a single tower in Unit B as per my broker...
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  • Originally Posted by jkhurana
    We recently bought a 3 bhk in Unit - B and just now found out that builder has issued same parking slots to multiple flats... Society says they cant do anything, sort it out with builder only.. Chasing builder since December but to no avail as of now... it is very shocking to know/face that such reputed builder will also indulge in such things.. and this is the case with atleast 8-9 flats in a single tower in Unit B as per my broker...


    complaint in Rera..let them sort out.
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  • I have booked a 2 BHK flat in to be constructed Towers 24-25. Is there any whatsapp group of buyers? If not I can create one.
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    • NG201212 months ago
      Congratulations!!! Blueridge is one fine place to live (despite what the reviews say). Where in Pune you can get a 2 kms long morning walk within society?
  • last week i visited T24-T25. It seems there is no seperate club house,swimming pool, gym etc amenities for T24-25 even after very high charges builder is asking. Builder want to run Golf Club and Golf Course with T24-25 owners and give them annual membership which is paid membership. New way of minting money from Buyers. Also many separate societies like T18-19, T20-23, T23-25 will add to conflicts about common areas, podium, security etc.

    But i am impreessed with the Marketing Strategy Builder uses to Lure Buyers.
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    • GlobeSon11 months ago
      In earlier times (80s and 90s), builders used to construct, sell and get out of the project. But that's not fun. In recent years, they have devised models to fleece customers life long, even after making hefty profits in flat sales.
  • Went to Blueridge (and to this forum) after a very long time. My observation is that in an absolute sense, Paranjpe and the township authority is not able to maintain the overall quality and feel of the township ... especially due to the still ongoining constructions. The township is like 75%-80% potential of what I pictured some years ago. However, in a relative sense, this is still one of the better townships as the situation on most other large properties in Pune and Mumbai is much worse.
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  • I am planning to book a 2BHK in T15, the newly launched scheme. Any feedback is appreciated
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    • avisri.2201 months ago
      I am also looking to buy property in T15,16. May i know at what rate i would get 744area 2bhk?