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Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

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Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

Last updated: August 7 2017
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  • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

    An acquaintance on mine is looking at apartments in Pune. He also saw a few in Blue Ridge over the last two weekends (via 2 brokers) and was thoroughly confused by the pricing.


    3BHK of size 1700-1800 sqft had asking price of 96-98L (he saw one for asking of 98L)
    2BHK of size 1000-1150 sqft had asking price of 80-98L (He saw two of the exact same size, one with asking of 83 and another with asking of 96)
    2BHK of size 1300-1400 sqft had asking price of 85-1Cr (He saw two of exact same size, one for asking of 87 and another with asking of 98)


    He was confused behind the lack of logic in pricing. I checked current listing on property sites and sure enough, the pricing is indeed haywire.


    Can anybody help with the recent price at which 2/3BHK sales actually took place? I have stopped following BR prices so am out of touch now.


    pnq2012; brres13; any clues?

    Last edited by TheOldFox; November 9 2015, 04:24 PM.

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    • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

      There are multiple reasons for this .

      1) Demand for a 2 BHK is always higher than that of a 3 BHK. Most people who want to live in Hinjwadi are those who work at the IT park. Such individuals / couples are in the 25 to 35 years age group and do not need a 3 BHK.
      2) Most of the properties in Hinjewadi are owned by investors who probably have the capability to sit on their investment till they find a "romantic buyer" (read bakra).
      3) Some flats may have very pricey interiors due to which the resale costs go up.

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      • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

        Adding that i donot know of any 3 BHKs sold recently but i have seen the papers for a 2 BHK sold for about 83 L

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        • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

          Originally posted by ashwinrath View Post
          Adding that i donot know of any 3 BHKs sold recently but i have seen the papers for a 2 BHK sold for about 83 L


          2BHK for 83L sound reasonable, as I myself sold one few months ago for 83.5


          I still don't get why 2BHK and 3BHK would cost the same. If demand for 2BHK is high and a 3BHK were available at same price, wouldn't anybody (end user or investor) always go for 3BHK?

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          • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

            Originally posted by TheOldFox View Post
            2BHK for 83L sound reasonable, as I myself sold one few months ago for 83.5


            I still don't get why 2BHK and 3BHK would cost the same. If demand for 2BHK is high and a 3BHK were available at same price, wouldn't anybody (end user or investor) always go for 3BHK?
            Many a times these illiterate brokers post teaser prices or prices without adding additional 11% in taxes, brokerage, etc.

            Also, there are 3bhks in BR which might be smaller than expected or not in a desirable location within the building.

            Do not go by the 1700 or 1800 sq ft, loading is mentioned as 35% by builder and loading is more than 35% if you calculate carpet area yourself even if you include a margin of error in your calculations.

            But if you are getting a 3bhk at the cost of 2bhk, definitely go for it (with caveats and due diligence of course).

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            • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

              Yes they would. But like i said maybe the 2 BHK has some good interiors done which is well worth over 15 L. Also everyone in general overrates their property. I have seen old folks in Aundh trying to sell their 25 year old 3 BHK flats at 1.8 Cr !. Property rates in India is notional. There is no scientific valuation methodology in place. You should buy at what rate you believe is worth. I personally would value a 1000 sqft 2 BHK in Hinjewadi phase 1 at nothing more 50L. But since people are ready to pay 83 so they are selling at 83.

              I can put up my 1 BHK for sale at 70 L. No one will buy it. 2 months later i will reduce the asking price to 35 L and i will immediately get calls. The property site will show a 50 % drop in rates and people will start blogging about it. Thats what happens.

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              • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                Originally posted by ashwinrath View Post
                I can put up my 1 BHK for sale at 70 L. No one will buy it. 2 months later i will reduce the asking price to 35 L and i will immediately get calls. The property site will show a 50 % drop in rates and people will start blogging about it. Thats what happens.
                You will probably reduce the price to 35L only if you bought it for 20-25L. If you yourself bought it for say 34L, I think you will prefer to wait for sometime than quoting 35L unless you are in real need of money.

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                • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                  Buyer may also think--------?? something fishy ?????? something foul ?????

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                  • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                    Originally posted by ashwinrath View Post
                    Yes they would. But like i said maybe the 2 BHK has some good interiors done which is well worth over 15 L. Also everyone in general overrates their property. I have seen old folks in Aundh trying to sell their 25 year old 3 BHK flats at 1.8 Cr !. Property rates in India is notional. There is no scientific valuation methodology in place. You should buy at what rate you believe is worth. I personally would value a 1000 sqft 2 BHK in Hinjewadi phase 1 at nothing more 50L. But since people are ready to pay 83 so they are selling at 83.

                    I can put up my 1 BHK for sale at 70 L. No one will buy it. 2 months later i will reduce the asking price to 35 L and i will immediately get calls. The property site will show a 50 % drop in rates and people will start blogging about it. Thats what happens.
                    Confirmed with friend that the 2bhks did not have any significant furnishings. At most kitchen cabinets worth 1.5 to 2 lakhs.

                    In all, it seems expectations of 2 bhk owners are not in line with reality. 3bhk owners are more in line and also willing to negotiate. friend is in advanced talks/negotiations with one owner for 3bhk in Blue Ridge and with another for row house in wakad.

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                    • Re : Blue Ridge by Paranjape Schemes in Hinjewadi, Pune

                      Originally posted by TheOldFox View Post
                      Confirmed with friend that the 2bhks did not have any significant furnishings. At most kitchen cabinets worth 1.5 to 2 lakhs.

                      In all, it seems expectations of 2 bhk owners are not in line with reality. 3bhk owners are more in line and also willing to negotiate. friend is in advanced talks/negotiations with one owner for 3bhk in Blue Ridge and with another for row house in wakad.
                      Yes and i agree. Its quite possible that the 3 BHKs were purchased earlier and the 2 BHKs later. Therefore the seller of a 3 BHK is achieving his goal by selling at a rate almost equal to that of a 2 BHK (which was purchased later).

                      I would strongly suggest that your friend should consider the row house in Wakad if he is getting it for about the same cost as a 3 BHK in BR.

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