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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  • Over a period of 10 yrs from now, i think Hinjewadi itself will be a self-sustaining town - less reliant on Pune or Aundh/Baner. If connectivity improves than maybe it will benefit the travel to city center etc

    Even today investment in Hinjewdi is for IT folks becos it reduces the travel time but down the line when the social infra improves ppl from other profession too can look at Hinjewadi as desirabel location (liek Aundh & Baner today)...

    Complexes and townships like BR will surely get premium pricing at that future times....

    Who know ppl may take these tonwships as bench-marks while comparing then upcoming projects..

    Cheers!!
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  • Originally Posted by herohiralal

    Prices in BR have risen from 2800 in Jan 2010 to 5500 today so if one had decided to invest in RE in 2010 then I think that person has done quite well.

    price was 2800 in 2010? You had negotiated? What was the price builder quoted first? I was told 4000 :( Then I didn't even think of negotiating and left the place:)
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  • Originally Posted by herohiralal

    Prices in BR have risen from 2800 in Jan 2010 to 5500 today so if one had decided to invest in RE in 2010 then I think that person has done quite well.


    If you or anyone on this forum said in Jan 2010 that prices of BR are going to touch 5k+ psf 2 years down the lane, your post would have been quoted by every bear (read overly pessimistic) and the been laughed at.

    So I would like to take this opportunity to announce that "Prices in BR are likely to cross 6k+ (may be 6500) after one year from now" :D

    I have colleagues working with me who are working in phase 1/2 and currently staying on rent in Wakad/PS/kalewadi etc and cannot wait to get anything on rent in BR. :)
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  • Originally Posted by PointOfView

    I have colleagues working with me who are working in phase 1/2 and currently staying on rent in Wakad/PS/kalewadi etc and cannot wait to get anything on rent in BR. :)

    There may be 10,000 people waiting for renting a flat in BR. The question is how much they are ready to pay for rent for one month. 15 Rs./sq.ft or 20 Rs./sq.ft. ? Compare that to buying price of 5500 Rs./sq.ft. And compare rental yield to fixed deposit rates in India.
    However, I would have to admit that 20 Rs./sq.ft. rent is very good return on investment.
    And I would not be surprised if it touches 30 Rs./sq.ft. in next 5 years.
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  • Originally Posted by s.sighaniya
    price was 2800 in 2010? You had negotiated? What was the price builder quoted first? I was told 4000 :( Then I didn't even think of negotiating and left the place:)


    yes in jan 2010 or dec 2009 there was this scheme where people working with infosys and techm and some other companies were given a rate of 2800. you might find evidence of it on some old posts of this thread as well.
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  • Originally Posted by PointOfView
    If you or anyone on this forum said in Jan 2010 that prices of BR are going to touch 5k+ psf 2 years down the lane, your post would have been quoted by every bear (read overly pessimistic) and the been laughed at.

    So I would like to take this opportunity to announce that "Prices in BR are likely to cross 6k+ (may be 6500) after one year from now" :D

    I have colleagues working with me who are working in phase 1/2 and currently staying on rent in Wakad/PS/kalewadi etc and cannot wait to get anything on rent in BR. :)


    well i wouldnt have thought in my wildest dreams prices would rise so much so fast or else would have bought a 5bhk myself :) hopefully we see such schemes come up in talegaon or pirangut.
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  • Originally Posted by s.sighaniya
    However, I would have to admit that 20 Rs./sq.ft. rent is very good return on investment.


    Agreed..
    Historicaly in most metros, total residental RE return ( at minimum ) has been....... rental yeald of 3% -5% + inflation for the year.
    Maintainence an repairs paid by tenants.
    So in any case avarage RE yealds are certainly much better than FDs (which are indexed with inflation and interst is taxed on yearly basis)

    Originally Posted by s.sighaniya
    And I would not be surprised if it touches 30 Rs./sq.ft. in next 5 years.


    Tere Muh Me Shakkar !
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  • Originally Posted by herohiralal
    i think the only people who are trapped are the people who haven't had the vision to buy in BR in 2009 when there was a discount being offered. a golf course is just a green patch. there is no resort. if the golf course becomes a flop it will be changed to a normal garden.


    Originally Posted by herohiralal

    There are many other places where one can earn higher returns than direct RE investing but if one has decided to invest in RE then it much better to go and buy a falt in BR than say somewhere in wakad or some other areas in pune.



    Even though I booked in early 2011, i couldn't agree more with what you said.
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  • Originally Posted by Superduper
    Agreed..
    Historicaly in most metros, total residental RE return ( at minimum ) has been....... rental yeald of 3% -5% + inflation for the year.
    Maintainence an repairs paid by tenants.
    So in any case avarage RE yealds are certainly much better than FDs (which are indexed with inflation and interst is taxed on yearly basis)



    Tere Muh Me Shakkar !

    I was not aware that "Maintainence and repairs paid by tenants. "
    Monthly maintainance charge might have been paid by tenant. But i am not sure whether tenants pay anything above that. Please let me know what is usual practice.

    Rent increase of 50-70 % in 5 years is not a great news. Also, don't get upset if it settles down at 30 Rs/sq.ft. for next 10 years. BR may be quality product but there are many alternatives in vicinity with different price points and quality points.
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  • Originally Posted by Superduper
    Historicaly in most metros, total residental RE return ( at minimum ) has been....... rental yeald of 3% -5% + inflation for the year.

    Maintainence an repairs paid by tenants.
    So in any case avarage RE yealds are certainly much better than FDs (which are indexed with inflation and interst is taxed on yearly basis)


    Maintenance and repairs are paid by tenants ? You mean electricity bill or monthly society maintenance charges ? Typically, monthly society maintenance these charges are paid by owner in lieu of some fixed monthly sum as rent. Only electricity etc. which depend on usage are paid by tenant.

    So lets say you buy a 5 bhk TODAY (let's not worry that you already have bought one earlier ;))

    What is the total cost you pay for the flat (all charges + govt taxes) ?

    And you put it on rent TODAY, how much rent are you going to get (I assume you won't convert your super luxurious 5 bhk into a hostel by renting to 10 -12 bachelors. Assume you rent it to a family).

    What will be the total annual outgo (monthly maintenance + any govt taxes etc. + routine maintenance/upkeep) ?

    What is the net amount you get in hand (before tax) ? How does it compare to cost you paid and FD rate (it was 10 % till 6 months back if you had locked in the money then :D)

    And most important, why would you yourself not live there starting TODAY (assuming you work in pune and in HJ or nearby) ?
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  • Guys,

    I didn't get answer to my question: How much will a 1 BHK around 1100 sqft cost here, all incl?
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  • Originally Posted by pune_friend
    Maintenance and repairs are paid by tenants ? You mean electricity bill or monthly society maintenance charges ? Typically, monthly society maintenance these charges are paid by owner in lieu of some fixed monthly sum as rent. Only electricity etc. which depend on usage are paid by tenant.

    So lets say you buy a 5 bhk TODAY (let's not worry that you already have bought one earlier ;))

    What is the total cost you pay for the flat (all charges + govt taxes) ?

    And you put it on rent TODAY, how much rent are you going to get (I assume you won't convert your super luxurious 5 bhk into a hostel by renting to 10 -12 bachelors. Assume you rent it to a family).

    What will be the total annual outgo (monthly maintenance + any govt taxes etc. + routine maintenance/upkeep) ?

    What is the net amount you get in hand (before tax) ? How does it compare to cost you paid and FD rate (it was 10 % till 6 months back if you had locked in the money then :D)

    And most important, why would you yourself not live there starting TODAY (assuming you work in pune and in HJ or nearby) ?


    The person may lent to 5 bachelors. Every person will pay 6000 Rs. per person. It will come around 30K Rs. per month. It will indeed be a hostel. Btw, how many bathrooms 5bhk will have?
    Looking at saving in travel cost and quality of living, people would be ready to pay such amount for rent.
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  • Originally Posted by herohiralal

    Buying into BR when it was launched was stupidity but there was a discount given in 2009-2010 and that was the right time to enter.

    Good to hear that. Everytime someone launches a scheme, the sales guys and re agents try to make people believe as if right now is the time. If not booked now, one will end up paying hefty price in future and won't get anything. In this case, people who booked at hefty rate of 3200 to 3800 + many other charges in March (?) 2007 ended up cancelling in hundreds later. Hope people read your line before they get fooled anywhere at any stage of some scheme (including BR itself)

    Originally Posted by herohiralal

    How much money has MSRTC lost over the yrs and how much have the tax payers have to subsidize it to keep it alive? If isnt was not for the support of the govt it would have failed long time back. you and me are paying taxes thru our nose to keep Air India, BSNL, SBI, state transmission and distribution companies, MTNL, etc working. There is no debate to be had on private vs public. Look at that new gimmick called Akash tablet. What a serious waste of money.

    My point was - even after paying whatever money is asked, private operators do not provide either service or timeliness. That implies I do not opt for that mode at all. Surprisingly, govt service gives me what I need as it feels competition and does not do hara-kiri like private operators (who are into many other businesses).

    Private is not providing what is needed and govt is - slowly and steadily this is being seen in many places.

    Just like HSBC (despite being private) is a chor bank while SBI personal banking is much better and reliable.

    So do I bank with HSBC or SBI ? I go for SBI irrespective of it being a govt bank. One needs to keep eyes and ears open as these are individual selections for specific needs. Just because something is private, it does not mean it is going to be great and efficient and timely (as people have experienced with BR and many other schemes).

    Originally Posted by herohiralal

    So building something in 1 month is a success when it was not done for 5-6 yrs??

    No. Again the point was - it is the same set of people who do very good job depending on some context. So they are obviously being made to NOT DO GOOD JOB at other times.

    Just like keeping public transport oriented city plan on backfoot to help vehicle business in Pune. Or putting all things in hands of agency like cidco (navi mumbai) 10 - 20 - 30 years back and developing city first was not done to flourish private RE business (with cut and partnership at all levels ).

    All things are possible by the very same set of people. But these are not done because someone is moving "kathputli" threads to ensure it does not happen.

    Originally Posted by herohiralal

    Obviously all private things are not going to be perfect but the market will determine which private player will do well and which wont. Not like the govt schemes like metro, airport, developed india by 2020, akash, tejas plane, CWG, electricty for all, crap roads, crap airline, crap govt schools, crap govt bus stands, crap govt provided water supply etc.


    Yes. These are the very same people who are partners in RE business and are running it very efficiently (for themselves)
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  • Originally Posted by s.sighaniya
    The person may lent to 5 bachelors. Every person will pay 6000 Rs. per person. It will come around 30K Rs. per month. It will indeed be a hostel. Btw, how many bathrooms 5bhk will have?
    Looking at saving in travel cost and quality of living, people would be ready to pay such amount for rent.


    Sure. Let's wait for Super to give calculations for both family as well as whatever you have mentioned for the flat he just bought TODAY and put on rent TODAY
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  • Originally Posted by pune_friend
    Sure. Let's wait for Super to give calculations for both family as well as whatever you have mentioned for the flat he just bought TODAY and put on rent TODAY


    Can you give the link to advt of renting out?
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