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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  • Originally Posted by akash481
    Does any one have latest cost sheet for Blue Ridge? Please upload in this thread.


    Don't have the latest but got this email in April


    Launching New Towers – T22  &  T23  on 15th April’ 2012 onwards of  
    2, 3 BHK flats.

    These flats are basically Golf facing flats as well as River facing flats. Costing as follows:-

    Rate per sq.ft. till 7th Floor – 5300 – Golf facing

    Rate per sq.ft. till 7th Floor – 5000 – River facing


    The time to invest in BR was in 2009 end when they lowered the rate to 2800. If u want buy for personal use the it's a very good project. If you work in Hinjewadi then it's really useful to stay close and the area will develop further in another 2 yrs
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  • I was able to rent out my blueridge 3bhk for 40K per month. so do not compare it with wakad and pimplesaudagar, aundh.

    thr are 3 corp service apt companies who are looking for leasing apts at br. one of the have already leased 15 apts in 1-4 toweres. SO OWNERS if you want to rentout do not rush demand 28K(unfurnished) or 40K(furnished)
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  • Originally Posted by ssbork
    I was able to rent out my blueridge 3bhk for 40K per month. so do not compare it with wakad and pimplesaudagar, aundh.

    thr are 3 corp service apt companies who are looking for leasing apts at br. one of the have already leased 15 apts in 1-4 toweres. SO OWNERS if you want to rentout do not rush demand 28K(unfurnished) or 40K(furnished)

    First post & this info. Do you think members here are kids ?:D
    40k for 3 BR ? :D This is not the rate even at Aundh or Kalyaninagar.
    The rent at BR for 3 BR with area of over 1700 sq ft is about 17-17.5k !!

    Man, you should have posted this atleast on 1st April !!
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  • I was looking for a rental flat for my friend, and rent for a 3 bhk in Blue Ridge was 17k - 18k.
    40k is definitely possible, but maybe 10 years from now.
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  • Originally Posted by realacres
    First post & this info. Do you think members here are kids ?:D
    40k for 3 BR ? :D This is not the rate even at Aundh or Kalyaninagar.
    The rent at BR for 3 BR with area of over 1700 sq ft is about 17-17.5k !!

    Man, you should have posted this atleast on 1st April !!


    These are service apartments for which there are corporate clients. I had heard that these companies which take apartments and furnish them and then rent it out to companies and give around 28-30K in baner. One friend's brother has given his flat in Baner using this approach.

    Cant vouch if the figure is 40K is correct but yes service apartments do provide high rents.
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  • This might be true for service apartments, but not if you are a family looking to rent an unfurnished flat, for which rent will be 15k to 18k.

    Also, society maintenance charges in Blueridge will be higher due to the fancy amenities? This is included in the rent, so if rent is 18k, and maintenance is 3k, actual rent is only 15k to the owner.
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  • Service Apartments

    High rents are quite possible if apartments are given on long term lease to companies.

    I remember seeing an advertisement for 7 studio apartments in Amanora only to be given on long term corporate lease. When I called up the broker to check if he is willing to sell one of them, he said they get good rental returns on corporate lease & owner is only giving them on lease to companies.

    Even for companies it saves costs as it turns out to be cost effective than putting up employees or guests in expensive hotels.
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  • 40K for 3bhk furnished leased to company

    Dude I was even surprised with the responses that i got for my posting for rent.
    I was hoping to get about 20k before furnishing. But we decided to furnished the apt. I have lavishly furnished the full house including 42LED,big fridge, topclass sofa study microwave etc.

    I have posted ad for 28 plus maintenance and I got great response. Finally i leased it to a company for 40K but have have to pay for gas and electric as well. So it was great deal.

    I'm not surprised that you think this is joke. thk abot this:
    >Thr r 23 companies operational with Blueridge campus.
    >india's biggest service apt provider have lease out 15 apt already
    >we have river mointain vew on one side and golf coarse green on other.
    >over 1lakh people commute to hinjewadi everyday. Have u experienced the picktime traffic HORROR?
    >Lemon tress next door charges 5000 per night for room
    >thr is way to go but br is Impressive neat clean and great for kids. whereelse do we get pollution free air and amazing view these days. and that too in middle of IT hub and just 2 km from town. think

    So growup above the mentality of:: how far from train station/ airport /crowd.

    I have booked here in 2007 and by 2009 i was almost going to cancel my booking. I regreted my decission for booking at BR untill 2012. But after the possesion I really understood the value.

    If ecomony doesnt trunup for worst my bet is BR will reach 6500/sqft by 2013.
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  • What is the status of the amenities at BR ? Can some one please update about infra development around it or is it the same as it was in Dec 11 ?

    And ssbork, its good if you get 40k rent. Why not buy another 7-8 flats & do the same ?? The returns are better than even commercial properties.
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  • Ok, so you are getting 40k for a fully furnished 3 bhk. Each bedroom has a split AC, plus split AC for hall? This is minimum expectation of a corporate lease because it will be occupied by senior management who are used to living in 4 star, 5 star properties.
    Also, there will be full use of TV, fridge, microwave, electric water geyser.
    You are looking at electricity bill of 8k per month, my friend. About gas, are you getting cylinder meant for home use or commercial use. Home use cylinders cannot be used in service apartment. It is highly illegal, plus Bharat Gas officials are very prompt about raiding due to misuse of cooking gas cylinders becoming a political issue. The cook will go thru at least 2 cylinders per month.
    So if you have to revert to commercial cylinder, it is approx 1.5k per cylinder, which is 3k per month.
    Add to this depreciation of furnishing. Suppose you have invested 3 lakhs in furnishing, this will have to be replaced in 5 years, due to rough use. So depreciation will cost you 5k per month.

    So out of 40k, you are spending about 16k per month on the upkeep of the place, so the rent you are getting is only 24k for all this hassle.

    Actually, if I were in your place, I would not pay for electricity or cooking gas at all. This should be borne by the service apartment provider company.
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  • Originally Posted by ssbork
    Dude I was even surprised with the responses that i got for my posting for rent.
    I was hoping to get about 20k before furnishing. But we decided to furnished the apt. I have lavishly furnished the full house including 42LED,big fridge, topclass sofa study microwave etc.

    I have posted ad for 28 plus maintenance and I got great response. Finally i leased it to a company for 40K but have have to pay for gas and electric as well. So it was great deal.

    I'm not surprised that you think this is joke. thk abot this:
    >Thr r 23 companies operational with Blueridge campus.
    >india's biggest service apt provider have lease out 15 apt already
    >we have river mointain vew on one side and golf coarse green on other.
    >over 1lakh people commute to hinjewadi everyday. Have u experienced the picktime traffic HORROR?
    >Lemon tress next door charges 5000 per night for room
    >thr is way to go but br is Impressive neat clean and great for kids. whereelse do we get pollution free air and amazing view these days. and that too in middle of IT hub and just 2 km from town. think

    So growup above the mentality of:: how far from train station/ airport /crowd.

    I have booked here in 2007 and by 2009 i was almost going to cancel my booking. I regreted my decission for booking at BR untill 2012. But after the possesion I really understood the value.

    If ecomony doesnt trunup for worst my bet is BR will reach 6500/sqft by 2013.


    BR in current situation only good for bachelors to stay(read good for renting to bachelors if they can afford). The situation will remain same for years as there is no possibility of another residential project in the neighborhood of BR which will keep families away from that area. The most of the IT staff leaves Hinjewadi by 8/9 in the night and after that it's insecure to come out of that project for families. (Itnaa Sannatta kyon hain bhai :D )

    Any emergency hospitalization during peak hours would be nightmare and no guarantee patient will survive till ambulance reach to project and then back to hospital.(I guess project should have ambulance on stand by)

    I don't think Hinjewadi will be suitable place to stay for families till next 4-5 years. Also most of the Hinjewadi land is acquired by MIDC so it is difficult for that area to develop and get residential status unless MIDC sells part of the land which is not a possibility since it is acquired(from farmers) for industrial purpose and it will require another scam to convert it for residential.

    The same is the case with Megapolis/Life Republic, the distance of these townships from immediate residential area like wakad is at least between 6-8 km. For the entire region of 6-8 km to develop it will require another RE boom in India like it has seen between 2004 - 2008. I think we will see only outskirts getting developed with affordable housing type of projects and can't be called as all out RE boom in future.

    Also if the other side of the highway is to get developed it will developed sequentially like bavdhan budruk, Sus gaon, Baner, Balewadi. Till this entire area develops Hinjewadi will be isolated and will not be good place for residential purpose.

    Unless the metro routes are expands in the areas near and in Hinjewadi it will be difficult for these areas to get residential status as they will lack all social infrastructure that Pune main city enjoys which is lacking even in areas like wakad, balewadi / baner(near highway).
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  • Originally Posted by AaplaAbhari79
    BR in current situation only good for bachelors to stay(read good for renting to bachelors if they can afford). The situation will remain same for years as there is no possibility of another residential project in the neighborhood of BR which will keep families away from that area. The most of the IT staff leaves Hinjewadi by 8/9 in the night and after that it's insecure to come out of that project for families. (Itnaa Sannatta kyon hain bhai :D )

    Any emergency hospitalization during peak hours would be nightmare and no guarantee patient will survive till ambulance reach to project and then back to hospital.(I guess project should have ambulance on stand by)

    I don't think Hinjewadi will be suitable place to stay for families till next 4-5 years. Also most of the Hinjewadi land is acquired by MIDC so it is difficult for that area to develop and get residential status unless MIDC sells part of the land which is not a possibility since it is acquired(from farmers) for industrial purpose and it will require another scam to convert it for residential.

    The same is the case with Megapolis/Life Republic, the distance of these townships from immediate residential area like wakad is at least between 6-8 km. For the entire region of 6-8 km to develop it will require another RE boom in India like it has seen between 2004 - 2008. I think we will see only outskirts getting developed with affordable housing type of projects and can't be called as all out RE boom in future.

    Also if the other side of the highway is to get developed it will developed sequentially like bavdhan budruk, Sus gaon, Baner, Balewadi. Till this entire area develops Hinjewadi will be isolated and will not be good place for residential purpose.

    Unless the metro routes are expands in the areas near and in Hinjewadi it will be difficult for these areas to get residential status as they will lack all social infrastructure that Pune main city enjoys which is lacking even in areas like wakad, balewadi / baner(near highway).


    I had the same views about Pimple Saudagar and Wakad 6-7 years back and boy was I wrong. The area developed faster than I could have imagined. A few projects in and around hinjewadi

    New project coming up opp Infosys phase 2, KUL on the opposite side of BR, Life, Megapolis, projects on the road which connect hinjewadi chowk to kale wadi phata road. There is too much land around hinjewadi for any builder to ignore and most of it must have been sold to builders way back.
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  • Originally Posted by abeerbagul
    Ok, so you are getting 40k for a fully furnished 3 bhk. Each bedroom has a split AC, plus split AC for hall? This is minimum expectation of a corporate lease because it will be occupied by senior management who are used to living in 4 star, 5 star properties.
    Also, there will be full use of TV, fridge, microwave, electric water geyser.
    You are looking at electricity bill of 8k per month, my friend. About gas, are you getting cylinder meant for home use or commercial use. Home use cylinders cannot be used in service apartment. It is highly illegal, plus Bharat Gas officials are very prompt about raiding due to misuse of cooking gas cylinders becoming a political issue. The cook will go thru at least 2 cylinders per month.
    So if you have to revert to commercial cylinder, it is approx 1.5k per cylinder, which is 3k per month.
    Add to this depreciation of furnishing. Suppose you have invested 3 lakhs in furnishing, this will have to be replaced in 5 years, due to rough use. So depreciation will cost you 5k per month.

    So out of 40k, you are spending about 16k per month on the upkeep of the place, so the rent you are getting is only 24k for all this hassle.

    Actually, if I were in your place, I would not pay for electricity or cooking gas at all. This should be borne by the service apartment provider company.


    Agree with Abeerbagul, my net in hand is 26. btw they have piped gas so forget about the HP calculations.

    realacres dude dont jump to conclusions...Anyways who made realacres a moderator???
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  • Originally Posted by herohiralal
    I had the same views about Pimple Saudagar and Wakad 6-7 years back and boy was I wrong. The area developed faster than I could have imagined. A few projects in and around hinjewadi

    New project coming up opp Infosys phase 2, KUL on the opposite side of BR, Life, Megapolis, projects on the road which connect hinjewadi chowk to kale wadi phata road. There is too much land around hinjewadi for any builder to ignore and most of it must have been sold to builders way back.


    Now difference in that time and now is rate. Now a days outskirt areas are also quoting 4k+ rate. The 6-7 years back outskirt area were available at cheap rate making them good destination for investments.

    Look at Forest Trails by Paranjape quoting 4k+ and still 7 km away from highway. The 3 BHK costs 85L and 2 BHK 72L in this project. It seems builders are trying to encash future growth as well leaving buyer to wait for long to see real appreciation.

    On Google maps many areas looks attractive but on ground you meet with realities and come to know how much infra work is required. Only building road is not sufficient.

    There is no doubt builders will keep launching schemes in these areas due to land availability but rates will keep investors away and thus slow pace of development in these areas. More over metro will stop migration of people from city to outskirts since reaching work location would be much easier while enjoying less traffic and social infra in the city which outskirt will always lack. It's pune not mumbai where every area grows residentially as well as commercially. I'm bullish on city areas rather than outskirt as safe investment after price correction.

    We can't just compare with western countries and expect same will repeat here. We are in big political mess.
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  • Originally Posted by AaplaAbhari79


    More over metro will stop migration of people from city to outskirts since reaching work location would be much easier while enjoying less traffic and social infra in the city which outskirt will always lack. It's pune not mumbai where every area grows residentially as well as commercially. I'm bullish on city areas rather than outskirt as safe investment after price correction.



    Metro attracts more people to the city raising prices even more cause there are always cities which dont have a metro and businesses move to places where its easiest to do business. Hinjewadi is unique cause it has a very large It presence and the area around it has got some amazing projects which can keep people close to their work place.

    There is very thin line now between a city and outskirt. Each outskirt area now has almost everything a city center has (shopping, schools, entertainment, etc)
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