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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    1 Comments
    • kumarpraveen5 months 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.

    .
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    .

    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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    1 Comments
    • GlobeSon4 months 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 months 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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    • GlobeSon4 days 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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