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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  • no Bunglow...only towers...

    when they launched in 2008...they had the cnetral area marked for villas/row house and water bodies and what not

    They realized golf course is a major attractions in RE world wide and they can get better bucks by using unutilized FAR in high rises
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  • Originally Posted by realacres
    Does anyone has the update about the bungalow project in BR ? It has been cancelled & some 22 floor building is coming up there, so has it be completely cancelled or shifted elsewhere ??


    Decision to put a golf-course and not bungalows was announced over a year back.

    By doing so the developer added (huge) value to all the center facing flats and to some degree the rest of the project.

    The developer lost nothing since…he took that FSI and used it for 1-2 BHK commodity-like flats to be built outside of the prime of the project.

    The developer added another feather in his cap since possession of the golf-course will be retained by his firm and will never be part of Blue Ridge association.

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  • Thanks Baruch. But having bungalows in BR would surely have lent a premium feel to the project. I have seen projects which are golf facing in Gurgaon, but then those projects themselves are premium projects in true sense. I doubt how many people from BR will actually come down to play golf and seeing the odd timings of ITGs, it becomes even more difficult.

    Originally Posted by Superduper
    Decision to put a golf-course and not bungalows was announced over a year back.
    By doing so the developer added (huge) value to all the center facing flats and to some degree the rest of the project.
    The developer lost nothing since…he used that FSI for 1-2 BHK commodity-like flats to be built outside of the prime of the project.
    The developere added another feather in its cap since possession of the golf-course will be retained by his firm and will never be part of Blue Ridge association.

    The developer didn't lost anything in terms of FSI, true but as said before, the entire face of the township got downgraded because of this & you rightly said those 1BR & commercial buildings at entrance. I expected BR to be more better than megapolis but I now feel post completion (whenever it happens), Megapolis in totality will look more better than BR. The only bad part in Sparklet, where the podium is till 2nd floor, because of which 1st floor guys can see nothing but a wall from their terrace.

    Btw, the biggest drawback which I see in projects like BR is huge no. of investors than end users, ofcourse apart from infra.
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  • Originally Posted by realacres
    I doubt how many people from BR will actually come down to play golf and seeing the odd timings of ITGs, it becomes even more difficult.


    nope.. it becomes easy though. When you say odd timings, I believe you talk about C shift (8 pm to 6 am Indian time)

    Sleep till 3 pm. play golf from 4pm to 5pm. Get a hot shower, have a meal and leave for work at 7 pm
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  • Originally Posted by Baruch

    If not for Golf course + river view( though it will look like river only for 4 months in mansoon) + weather of Pune + Hinjewadi being only IT pocket in India still seeing headcount addition ( its almost stagnated in Gurgaon/Blore/Mumbai/Hyderbad...some additions in Noida/Chennai/Maneshar)...I would have not bought such heavily loaded and haphazrdly designed flat in outskirts of city at such a price

    everything else is unnecessary details and actually mostly -ve...including a lot of 1BHKs at the entrance which will never let it become a luxury project , mall + office at entrance which will kill its residential feel



    Man, you are coming really hard on yourself.....;)
    Go a bit easy.....After all its not that bad.
    Just look at you....after all is said and done, eventually somebody like you (who looks at fact as per above quote) still finds long-term value in this project.
    In the end that decision alone speaks volumes in favor of Blue Ridge.:)
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  • Originally Posted by PointOfView

    => This is not correct. At peak traffic, it takes maximum 20-25 mins to get past phase-I square


    I was stuck yesterday for over 40 minutes for the stretch from Infosys Phase1 circle to Hinjewadi chowk around 6 PM..
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  • Originally Posted by Baruch
    Im not suffering from confirmtaion bias so wont read everything attached to BR as +ve

    At the same time I appreciate points made by you guys

    If not for Golf course + river view( though it will look like river only for 4 months in mansoon) + weather of Pune + Hinjewadi being only IT pocket in India still seeing headcount addition ( its almost stagnated in Gurgaon/Blore/Mumbai/Hyderbad...some additions in Noida/Chennai/Maneshar)...I would have not bought such heavily loaded and haphazrdly designed flat in outskirts of city at such a price

    everything else is unnecessary details and actually mostly -ve...including a lot of 1BHKs at the entrance which will never let it become a luxury project , mall + office at entrance which will kill its residential feel

    Megapolis is a much better project ( structure of flats + still reasonable rates + less loading)...its location will too move from -ve to +ve ( from rental perspective though not necessarily from family living perspective) after CTS opens up in phase -3 ( 20,000 capacity campus construction at advance stages) and TCS building becomes fully occupied


    i have never been to megapolis but i guess a 3 BHK there would be costing 70 lakhs....if you liked mehapolis better...am curious to know what made you shell out those extra 30 lakhs (you could have got 2 extra flats of 2 BHK in XRBIA:) to book an apartment in BR...
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  • Originally Posted by puneri12
    i have never been to megapolis but i guess a 3 BHK there would be costing 70 lakhs....if you liked mehapolis better...am curious to know what made you shell out those extra 30 lakhs (you could have got 2 extra flats of 2 BHK in XRBIA:) to book an apartment in BR...


    Golf course + River

    In nutsehll...paid 30 lakhs extra for few pics on FB :-)
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  • Originally Posted by Superduper

    Go a bit easy.....After all its not that bad.
    Just look at you....after all is said and done, eventually somebody like you (who looks at fact as per above quote) still finds long-term value in this project.
    In the end that decision alone speaks volumes in favor of Blue Ridge.


    Agreed...I didn’t want to put it here cause people would have jumped on me...but my targets for BR in Jan, 2016

    1. 0,000 - Builder goes belly down - and project gets stuck for unknown reasons - doomsday scenario & 1 % probability
    2. 7500 ( all inclusive) - worst case , 9 % probability
    3.8000-10,000 - base case - 60% probability
    4.10,000 + - best case & 30 % probability

    A major reason for these numbers is cause of GF...once the projects becomes complete...a lot of expats might come in and that will drive rental value up

    I will make more than FD returns in case2,3 & 4 and plus social traction for the property...in the end it might as well be the place I want to spend my next 10-15 years as I love Pune weather

    In today’s tough economic scenario…any UC project is a gamble. Since I didn’t have equity for RTM and wanted to play the inherent margin game of UC, I wanted to pick early any launch in late phases of any big project - BR and Megapolis both fit into that bracket

    Life Republic could have been another idea but didn’t want to go that far + LR has yet not delivered anything so we really don’t how much of differene will be there between brochures & reality…any tough situation and builder might easily delay everything by 4-5 years
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  • Originally Posted by Baruch
    Golf course + River

    In nutsehll...paid 30 lakhs extra for few pics on FB :-)


    well said. better to spend this money on Europe or US tours. Probably you could get even better photos on FB ;)
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  • Originally Posted by Baruch
    Agreed...I didn’t want to put it here cause people would have jumped on me...but my targets for BR in Jan, 2016

    1. 0,000 - Builder goes belly down - and project gets stuck for unknown reasons - doomsday scenario & 1 % probability
    2. 7500 ( all inclusive) - worst case , 9 % probability
    3.8000-10,000 - base case - 60% probability
    4.10,000 + - best case & 30 % probability

    A major reason for these numbers is cause of GF...once the projects becomes complete...a lot of expats might come in and that will drive rental value up

    I will make more than FD returns in case2,3 & 4 and plus social traction for the property...in the end it might as well be the place I want to spend my next 10-15 years as I love Pune weather

    In today’s tough economic scenario…any UC project is a gamble. Since I didn’t have equity for RTM and wanted to play the inherent margin game of UC, I wanted to pick early any launch in late phases of any big project - BR and Megapolis both fit into that bracket

    Life Republic could have been another idea but didn’t want to go that far + LR has yet not delivered anything so we really don’t how much of differene will be there between brochures & reality…any tough situation and builder might easily delay everything by 4-5 years


    i think your expectations are very high
    current base rate is 5000
    in next 3 years we can expect a max of 10-12% per
    that give a rate of 6500-7000 by dec 2015/jan 2016
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  • Originally Posted by Baruch
    Agreed...I didn’t want to put it here cause people would have jumped on me...but my targets for BR in Jan, 2016

    1. 0,000 - Builder goes belly down - and project gets stuck for unknown reasons - doomsday scenario & 1 % probability
    2. 7500 ( all inclusive) - worst case , 9 % probability
    3.8000-10,000 - base case - 60% probability
    4.10,000 + - best case & 30 % probability



    Baruch, consider one more thing;

    There are 4 kind of buyers who can afford BR now and in future;

    1. Expats bringing in their US/Europe savings, which in general is in range of 50L to 1 cr in average after 5-6 years. with definitely few exception
    2. Companies buying or renting for higher level executives or maintaining as guest houses
    3. IT folks with 30+ lpa salary
    4. Mumbai investors

    This population will start shrinking as prices would go cross a certain threshold, which to my understanding has now reached (1cr for 3BHK). Only thing that would drive BR prices is comparably better location (comparing with Megapolis, liferepublic) and better plan (BR always had a complete project plan and deviated very less in last 5 years).

    In total, i feel that saturation will not let price go beyond 1.25cr for 3BHK in next 3-4 years
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  • Im taking current rate as 6000 ( all inclusive...parking, plc - both floor + view)...else base rate vise you can reduce the numbers by 1000 each
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  • but during my groundwork for the project...I was almost shocked for 2-3 acres project in Balewadi asking 1Cr plus for 3bhks....

    Most of the times builders are not known too

    That has actually convinced me to to BR at such rates

    Pune market has really hot up and logically should cool at such levels for next 2-3 years...what many dont realize major portion of Pune market is of service class and at current levels its reaching beyond them

    Its not a Mumbai/Delhi market full of businessmen, politicians and beurocrats
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  • Originally Posted by toanuj


    There are 4 kind of buyers who can afford BR now and in future;

    1. Expats bringing in their US/Europe savings, which in general is in range of 50L to 1 cr in average after 5-6 years. with definitely few exception
    2. Companies buying or renting for higher level executives or maintaining as guest houses
    3. IT folks with 30+ lpa salary
    4. Mumbai investors

    This population will start shrinking as prices would go cross a certain threshold, which to my understanding has now reached (1cr for 3BHK). Only thing that would drive BR prices is comparably better location (comparing with Megapolis, liferepublic) and better plan (BR always had a complete project plan and deviated very less in last 5 years).

    In total, i feel that saturation will not let price go beyond 1.25cr for 3BHK in next 3-4 years


    Very points valid...no denying...even at 1.25 CR in 4 years...I will make close to 40-50% return for my average equity in the project adjusted for actual period of investment due to UC

    At the same time, as we speak, people in NCR are buying these GF facing properties in JP/Unitech/DLF with PSF ranging at 8,000-16,000...even in dead city of greater Noida...GF facing properties command a premium of 2000k over prevailing rates...again I’m not justifying the rates but just quoting the figures and a trend visible across the world

    Also thanks to UPA...people in India lost faith in equities...so in these times of hyper-inflation only real assets left are gold & property

    Since gold is always internationally driven asset (though Indian consumption plays a role too) you can actually sense that almost every1 investing in property

    Thanks to the easy money in lost decade…bubbles were there in many pockets of world but not every bubble got deflated...Aussies market is right up there…in fact new ones are getting built in the form of gold/silver and dare I say Pune/G Noida market…so let’s dance till the music stops…

    What I mean so say that property cycles are long and deep and unless there are triggers ...people don’t sell at losses...

    Unless a social revolt happens...Indian RE in metro will become like Mumbai/NYC/London… where no has his own house...people living on rent spending 30-40% of income as rent..and investors enjoying the life
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