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.
Read more
Reply
3896 Replies
Sort by :Filter by :
  • congrats marshal. though you have gone against the general wisdom of this thread :o .... anyway people have been happy in doing so in past :) :D
    CommentQuote
  • How is Megapolis Smart Homes 3 in comparison to price and living?
    I guess they have some units in Smart Homes 3?

    Salil
    CommentQuote
  • Originally Posted by Superduper
    Hi Salil,

    IMHO

    If one looks on a long-term basis ( 10-15 years at least ), chances of prices softening on either nominal or inflation-adjusted basis are very low.

    I was told that Hinjewadi IT offices employ about 100K people ( that's 100K families ) and half of them are IT "professionals" ( i.e. being able and willing to afford paying EMIs for their 1,2 or 3 BHK homes in various Hinjewadi townships).
    On the other hand I am also told that, total inventory already planned to hit the market in next 10 years is 15- to 18 K units combined between Blue Ridge, Megapolis, Life-R , Xrbia and other smaller developments.

    So if you match 50K families of current IT professionals with next 10 years of planned inventory of 15 - 18 K apt. you come severely short in favor of real estate.
    Other way to look at it is….that next 10 years of real estate inventory in the area will be more than scooped up by last 10 years of IT expansion and there will be plenty more demand that will remain unfulfilled.


    AND 3 more points…..
    ....IT companies are expanding to phase 3 and 4.
    ....There is reasonable "investor" demand for high-end inventory in the area.
    ....I was talking to one high level BR official...he told me that about 25 % of all of their inventory in BR was taken up by their past customers ( who may or may not have anything to do with Hinjewadi IT park ).

    Of course..a big assumption above is that
    if quality housing is available nearby, most people over time would want to live near their work ( especially if infrastructure poses daily challenge).
    Some folks on this forum may have a problem with that assumption.


    Thanks very much for reply and your perspective.
    I bought a house near Magapatta 3 BHK with my brother (sharing EMI) 3 years back during recession. That time i got in 2929 per square feet...rate is now more than 5000 per square feet.
    Since equity markets done nothing for last 5 years , my family is of opinion to invest in a 2BHK. So i was looking for something in Hinjewadi side. Some one told me Megapolis Smart Homes cost 47-48 for a 2BHK but Blue Ridge now is beyond my reach.I am looking for investment and rentals but definitely can shift sometime in Hinjewadi if i change my job there.

    Can you suggest me will it be a wise decision to buy a 2BHK in Smart Homes 3?

    Salil
    CommentQuote
  • smart homes I was good idea.
    SM3 is a borrowed idea... stretched and not that smart!
    CommentQuote
  • So, do BR owners get to use the golf course, clubhouse and other amenities for FREE? That part of land used to be integral part of the township. OR they just have to roam around fenced spaces around the towers?
    CommentQuote
  • Not really sure if we will get the golf for free. Imagine the number of ppl on the course then. Do not play golf but would like to pick it up :). Just an update from the builder. My house possession after the delays is set for Mar 2013. Hopefully they will stick to the timelines this time around. I really believe that this is a good investment. With Phase 3 and 4 coming up where do you think people would like to live? I would rather live somewhere closer to office, get those precious hours back in my life, spend it with my family rather then getting stressed out in traffic all that time.
    CommentQuote
  • i have got notice from BR regarding payment of VAT, has any other BR owners also got such a notice
    CommentQuote
  • Originally Posted by ati11a
    @marshaln: Congrats!
    Total package? Area details?


    thanks
    1.06cr total cost and area is about 1770sq ft
    CommentQuote
  • Originally Posted by anotherITguy
    Not really sure if we will get the golf for free. Imagine the number of ppl on the course then. Do not play golf but would like to pick it up :). Just an update from the builder. My house possession after the delays is set for Mar 2013. Hopefully they will stick to the timelines this time around. I really believe that this is a good investment. With Phase 3 and 4 coming up where do you think people would like to live? I would rather live somewhere closer to office, get those precious hours back in my life, spend it with my family rather then getting stressed out in traffic all that time.


    but i didn't like the way golf course membership years calculated. BR asking 2.5lac for 10yrs, and it has no link with possesion date. I will get possesion of my flat in 2015/16 and golf course will commence from 2013, so membership will also start from 2013 itself. very bad..will write to management on this.
    Any supporters?
    CommentQuote
  • Originally Posted by marshaln
    thanks
    1.06cr total cost and area is about 1770sq ft


    congrats and welcome to BR owners group
    as i understand the 3 bhk currently sold are 1730 salable and with a rate of 5000 ..it still comes to 86.5 lakhs + taxes
    so are the total of all taxes are 20 lakhs..???
    CommentQuote
  • Originally Posted by puneri12
    congrats and welcome to BR owners group
    as i understand the 3 bhk currently sold are 1730 salable and with a rate of 5000 ..it still comes to 86.5 lakhs + taxes
    so are the total of all taxes are 20 lakhs..???


    rate is 5000psf + 25rs floor rise for flats between 8-20floor river facing
    rate is 5300psf + 25rs floor rise for flats between 8-20floor garden facing
    21st above floor rate is 5500 river facing and 5800 garden facing

    PLUS:
    1% VAT
    2.5% stamp duty
    1.5lac infra development
    2.5lac covered parking

    p.s. Is there any owners groups like yahoo or google?
    CommentQuote
  • Originally Posted by marshaln
    rate is 5000psf + 25rs floor rise for flats between 8-20floor river facing
    rate is 5300psf + 25rs floor rise for flats between 8-20floor garden facing
    21st above floor rate is 5500 river facing and 5800 garden facing

    PLUS:
    1% VAT
    2.5% stamp duty
    1.5lac infra development
    2.5lac covered parking

    p.s. Is there any owners groups like yahoo or google?


    thanks for update...infrastructure charge ..used to be only 1 lakh and parking charge..they had removed (when i bought it was 1.5 lakhs but later since SC does not permit parking charges...to be levied they had removed it..did you not question that?...SC has has passed a order against any parking charges to be levied by builder...if not you can still ask them...
    is it just one parking or two? does infrastructure include golf membership?
    at this rate by the township is complete...rate should be 7-8000

    there is a yahoo groups of BR owners...but not very active...should start a FB
    group now.....
    CommentQuote
  • Originally Posted by puneri12
    thanks for update...infrastructure charge ..used to be only 1 lakh and parking charge..they had removed (when i bought it was 1.5 lakhs but later since SC does not permit parking charges...to be levied they had removed it..did you not question that?...SC has has passed a order against any parking charges to be levied by builder...if not you can still ask them...
    is it just one parking or two? does infrastructure include golf membership?
    at this rate by the township is complete...rate should be 7-8000

    there is a yahoo groups of BR owners...but not very active...should start a FB
    group now.....



    well, when did you booked the flat and your flat is in which phase? i think mine is the phase 3 latest one..possesion date is 2015/16
    with respect to parking earlier they were clubbing it with basic cost but then psf calculation was showing incorrect figure so for simplification they have put it separately but it doesn't matter..builder will anyway charge you for parking.. in 2.5lac only one parking :(.. and as of now no option for second :(..
    CommentQuote
  • Originally Posted by compuwalah
    congrats marshal. though you have gone against the general wisdom of this thread :o .... anyway people have been happy in doing so in past :) :D


    thanks compuwalah,

    it would be totally waste to wait for correction in RE, i have missed good projects / flats in hope of correction. It is actually not helping on contrary rates are increasing at good pace.
    CommentQuote
  • Congrats marshaln . Its a very good project but i missed bus at 4000/-. At current price , its beyond my reach. You took a right decision.

    Salil
    CommentQuote