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
3919 Replies
Sort by :Filter by :
  • Originally Posted by s.sighaniya
    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.


    20 Rs/sqft = 20,000 for a 1000sqft 2bhk? Are we supposed to have a good laugh on this?

    Please! Get realistic. I would love to know if someone is actually getting such rents for a 1/2/3bhk anywhere in Hinjewadi, forget BR!

    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.


    Lol - Bachelors seem to be the most "flexible" set of people. :D
    Btw let me give you a bit of info - real-time, not hypothetical figures. I am a bachelor, working out of Hinjewadi, with access to several other bachelors. So the facts I present should bear out the argument.

    - I used to live in Aundh, near Convergys at 5500 per month per person, with two others in a 3BHK, fully furnished.

    - I currently live in Pashan in a fully furnished 3bhk with two others, at 5000 per month per person. This is on the 9th floor, with balconies having clear view to the pashan lake. No noise, and all the amenities nearby. Most imp - it takes me 10 mins to reach University circle, any time of the day.

    - The other choices I rejected are 6000 per month (3 people 3 bhk - Aundh), 4000 (3 people 3bhk - Balewadi), and a few cheaper options that were semi-furnished.

    Trust me, no bachelor will pay you or anyone in BR at even 4k even if you gave fully furnished, when there are several good options well inside the city.

    Please start getting realistic. The other day, on my company's discussion board, a person put up an ad for 15k for a 2bhk in Megapolis. He was literally made a joke by one and all, so much that he removed his post within a few hours. Don't repeat such mistakes.
    CommentQuote
  • Originally Posted by ninjatalli
    20 Rs/sqft = 20,000 for a 1000sqft 2bhk? Are we supposed to Trust me, no bachelor will pay you or anyone in BR at even 4k even if you gave fully furnished, when there are several good options well inside the city.

    Please start getting realistic. The other day, on my company's discussion board, a person put up an ad for 15k for a 2bhk in Megapolis. He was literally made a joke by one and all, so much that he removed his post within a few hours. Don't repeat such mistakes.


    Mark my words. You would be proved wrong on both these counts in next 2 years (assuming that your statements are true at this point of time).
    CommentQuote
  • Originally Posted by s.sighaniya
    Mark my words. You would be proved wrong on both these counts in next 2 years (assuming that your statements are true at this point of time).

    I'll take up that "prediction". Btw I just re-looked both your posts - they weren't 2-year later predictions, but spoke about current market rates.

    And yes that data is 100% true. Believe it or not, the number of available flats in the market is going up thanks to all the RE construction. The only problem bachelors face is "only family allowed" conditions by societies, but thankfully not all societies do that.

    As I mentioned in one of my earlier post on this thread, the notional value of the flats at BR and other places will go up, thanks to the ever-rising RE market. But the rent values haven't gone up that much - as builders can't play their games in that market.

    For e.g. the first house I took up rent in Pune was at Aundh in 2004, near Parihar Chowk at 14k for a 2bhk, a brand new 2bhk.

    Similar (brand new) houses in Aundh now with full furnishing have a asking rate of 15k-20k now. The ones available for families and/or older flats are even more cheaper. You can check and validate this with any broker/real-estate sites.
    CommentQuote
  • Originally Posted by s.sighaniya
    Mark my words. You would be proved wrong on both these counts in next 2 years (assuming that your statements are true at this point of time).


    I would agree that at beginning the rentals should be low till it is populated to 90% of capacity. After that rents can be incremented by 20% every year.
    Also, Megapolis and BR will have all the facility which everybody wants in a city sooner than later. Private entities would be ready to setup malls, schools, hospitals to capture this well earning customer base.

    Also, as I see, people are giving high value to Aundh/Baner only because social infra. But it hardly takes 1 year to setup all that.

    My question is : Everything remaining same, where one would like to stay? closer to office or away from office? How much travel one would like to do? Less than 30 minutes one way or more than 1 hour one way?
    You will always ask when "everything"/social infra will become same at both places. I am not sure but I would expect sooner because customer, that is you, pay for that.
    CommentQuote
  • Originally Posted by ninjatalli
    I'll take up that "prediction". Btw I just re-looked both your posts - they weren't 2-year later predictions, but spoke about current market rates.

    And yes that data is 100% true. Believe it or not, the number of available flats in the market is going up thanks to all the RE construction. The only problem bachelors face is "only family allowed" conditions by societies, but thankfully not all societies do that.

    As I mentioned in one of my earlier post on this thread, the notional value of the flats at BR and other places will go up, thanks to the ever-rising RE market. But the rent values haven't gone up that much - as builders can't play their games in that market.

    For e.g. the first house I took up rent in Pune was at Aundh in 2004, near Parihar Chowk at 14k for a 2bhk, a brand new 2bhk.

    Similar (brand new) houses in Aundh now with full furnishing have a asking rate of 15k-20k now. The ones available for families and/or older flats are even more cheaper. You can check and validate this with any broker/real-estate sites.

    I never said that people are getting 20 Rs./sq.ft. at BR. But I would not be at all surprised if it is fetching that much rental. It is very reasonable rental especially given quality of living.

    My statements were :
    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.
    CommentQuote
  • Originally Posted by s.sighaniya
    I would agree that at beginning the rentals should be low till it is populated to 90% of capacity. After that rents can be incremented by 20% every year.
    Also, Megapolis and BR will have all the facility which everybody wants in a city sooner than later. Private entities would be ready to setup malls, schools, hospitals to capture this well earning customer base.

    Also, as I see, people are giving high value to Aundh/Baner only because social infra. But it hardly takes 1 year to setup all that.

    My question is : Everything remaining same, where one would like to stay? closer to office or away from office? How much travel one would like to do? Less than 30 minutes one way or more than 1 hour one way?
    You will always ask when "everything"/social infra will become same at both places. I am not sure but I would expect sooner because customer, that is you, pay for that.


    You seem to give more values to "promises" from builders than realistic aspects.

    As for your 1 year timeframe, have a look at Vishal Nagar, Balewadi, and a lot more places other than just Baner & Aundh. They have been there since quite a few years, the social infra is yet to develop fully.

    The answer to your question : Do I travel only between office & home or do I need to go elsewhere too? What about the traffic conditions? Do I stay cocooned inside a single area against my choice? The reason I shifted from Aundh to Pashan was the access to the main city. I probably go towards the city once in 2-3 days, but I don't need to plan my trips as per the traffic conditions. Try moving out of Hinjewadi during 6-10 in the evening - it is hell.

    Btw I am surprised to see that you are talking about me being the customer, and not yourself too. And that last paragraph looks quite like a sales pitch. Just wondering.
    CommentQuote
  • Originally Posted by s.sighaniya
    I never said that people are getting 20 Rs./sq.ft. at BR. But I would not be at all surprised if it is fetching that much rental. It is very reasonable rental especially given quality of living.

    My statements were :
    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.


    You don't seem to get my point.

    1. There aren't 10000 people waiting to rent a flat in BR. There aren't even 100 people waiting to rent a flat in BR. I have ads for flats for rent in BR, Megapolis and other options available since some time on my company discussion board.

    2. People would not be ready to pay more than 10-12k for a 2bhk in Hinjewadi. Even that amount might be tough for a fully furnished flat. That comes to 10-12 Rs/sqft.

    The above facts are as realistic as they can get. Not assumptions. Not predictions.
    CommentQuote
  • Originally Posted by ninjatalli
    You don't seem to get my point.

    1. There aren't 10000 people waiting to rent a flat in BR. There aren't even 100 people waiting to rent a flat in BR. I have ads for flats for rent in BR, Megapolis and other options available since some time on my company discussion board.

    2. People would not be ready to pay more than 10-12k for a 2bhk in Hinjewadi. Even that amount might be tough for a fully furnished flat. That comes to 10-12 Rs/sqft.

    The above facts are as realistic as they can get. Not assumptions. Not predictions.


    I wonder why you guys are wasting so much energy..if you do not want to rent/buy in BR or can not afford to buy in BR for GOD'S sake go somewhere else. I have bought a 5bhk in BR and I am not going to rent it to any stupid bachelor who will make it a kacharpatti...I will rather keep it vacant and use it whenever I am in India.or allow my family/brothers etc. to use at as a holiday home...the investestors/buyers who are buying in BR can afford to keep it vacant if they don't get suitable family to rent it out...anyways I am not going to rent my flat to any stupid bachelor..especially boys who do not know how to keep a flat clean and liveable.may be girls who at least have some sense...there are many more buyers like me who will pay for good township in proximity to mumbai-Pune express highway..they do not travel by public transport..they own cars and do not have to enter city congestion areas for their daily needs..befor buying in BR I looked at buying a bungalow in baner...but the area was so crowded and the roads were really a narrow...
    CommentQuote
  • Originally Posted by ninjatalli
    You seem to give more values to "promises" from builders than realistic aspects.

    As for your 1 year timeframe, have a look at Vishal Nagar, Balewadi, and a lot more places other than just Baner & Aundh. They have been there since quite a few years, the social infra is yet to develop fully.

    The answer to your question : Do I travel only between office & home or do I need to go elsewhere too? What about the traffic conditions? Do I stay cocooned inside a single area against my choice? The reason I shifted from Aundh to Pashan was the access to the main city. I probably go towards the city once in 2-3 days, but I don't need to plan my trips as per the traffic conditions. Try moving out of Hinjewadi during 6-10 in the evening - it is hell.

    Btw I am surprised to see that you are talking about me being the customer, and not yourself too. And that last paragraph looks quite like a sales pitch. Just wondering.


    About Balewadi and Vishal Nagar, I have to study more.
    You probably go towards the city once in 2-3 days, but you don't need to plan your trips as per the traffic conditions. This makes sense. But I believe that Hinjewadi will become new city. The need to go to Pune city should be less in future. If you are going there to visit relatives then not much can be done. But if you are going to city for commercial establishments then the establishments will move towards hinjewadi sooner than later.
    You are surprised to see that I am talking about you being the customer, and not myself too. Well, at this point I am not customer but I may become a customer. In that sense, I am doing a bad thing to myself by projecting higher rentals. But I am just putting my thoughts as a third party and trying to figure out why people are avoiding Hinjewadi? just because there are no clubs, hotels, restaurants, malls, schools, hospitals and friends? I think all will come sooner than later. I haven't figured out about balewadi and its social infra and reasons for current state.
    CommentQuote
  • No one is going to buy bungalows surrounded by 22 tall buildings so the original plan was a non-starter. its pure business isnt it. u cant charge lakhs for a garden membership but u can charge lakhs for a golf membership.

    I used to work in hinjewadi for 5 yrs and have stayed in pune for 30 yrs and have spent my youth in and around aundh and baner so know these places better than most but i am not part of any scheme/organisation trying to sell hinjewadi and BR and if the data and my analysis changes I wont shy away from saying HJ and BR are no longer good investments.

    Lets go other way round. Another project of Paranjape :- Forest Trails was supposed to be a bungalow project with stud farms & all premium amenities.
    But now, forget bungalows, 1BR compact flats & even old age home like Athashri has been thrown in. Why the need to modify the layout here then, when there was not even 4 storey building around bungalow, let alone 22 ??
    Reason is simple man, it's simply not selling, else why will builder let go more profitable products ??
    CommentQuote
  • Originally Posted by realacres
    Lets go other way round. Another project of Paranjape :- Forest Trails was supposed to be a bungalow project with stud farms & all premium amenities.
    But now, forget bungalows, 1BR compact flats & even old age home like Athashri has been thrown in. Why the need to modify the layout here then, when there was not even 4 storey building around bungalow, let alone 22 ??
    Reason is simple man, it's simply not selling, else why will builder let go more profitable products ??


    Reason is very simple..you have to adapt with the times...everyone is out here to watch his/her back..and make prudent financial decisions..be it builders, end users, investors..otherwise your thoughts and directions..get outdated pretty fast..like someone said...a RE bear for the last 3 years should've adapted to reality..urghh..realty...when that doesn't happen....you wonder what is the cost of lost opportunity..well..there are always piggy banks to fall back on..:D
    CommentQuote
  • Originally Posted by AnkitS
    Reason is very simple..you have to adapt with the times...D


    Originally Posted by suamuni
    I wonder why you guys are wasting so much energy..if you do not want to rent/buy in BR or can not afford to buy in BR for GOD'S sake go somewhere else.



    Call it generation-gap, call it learning-disability, call it sour-grapes, call it whatever.....
    Someone wise said "evolution in mind-set happens from funeral to funeral"

    Suamuni and Ankit, why argue with the old mind-set ?

    They know carpet has been pulled from underneath them and faced with reality, they can't shout loud enough :-)
    CommentQuote
  • Saw plenty of discussion here & would like to ask following questions :-

    > School, shops etc. will be in BR or MP. OK. But what about rest ? Station, bus, airport ?

    > It is not that one needs only single multiplex, I go to Adlabs, K'nagar or PVR, V'nagar even when E Square or R-Deccan city pride are closer for me. One gets bored with same stuff, so needs change, be it theatre, hotels or just hangout places.

    > Pune has expanded a lot, but how many places can boast to be chill-out places like FC road, Deccan or KP ? I bet not a single township can give you the feel of walking around these areas with your pals, & enjoying some coffee.

    > Then there are people who like plays, music. I am big fan of gazals & opera (nothing in Pune for Opera though:() ; can you replace Balgandharva ? No. Even Yashwantrao Chavan at Kothrud can't, let alone anything else.

    > There are music events like Savai Gandharva & some of friends go there on all days. How do you expect to attend these from Hinjewadi ?

    > If you are staying with your parents, I don't know what BR, MP or entire Hinjewadi has to offer to them, especially if they are retired.

    > BR is just 130 acre, peanuts when compared to Nanded City or Amanora.
    And if buyers here are calling BR or MP as city of tomorrow, then NC or Amanora will be real megapolis competing with New York, Shanghai & Hong Kong.

    > People here emphasis too much what is inside BR. My question is this :-
    What is there outside BR or MP or LR ?

    > Some said PCMC developed because of auto cluster. Correct, the the infra was done by Govt spread over thousands of hectares & not 100 acres. See the difference.

    > Nanded City which has far superior connectivity to Pune than Hinjewadi has rents of 7.5k for 2 BR costing around 45L.

    What Pune needs today is satellite city, something like Gurgaon but planned like Chandigarh. These townships aren't going to help solve issues coz the moment you step outside the townships, you are 100% dependent on PMC :D, be it road, public transport or even street lights.

    Apart from this, the idea never appealed to pay to the builder where land is not owned by us & for entire life, we need to play by builders' rule. :o
    CommentQuote
  • Originally Posted by Superduper

    They know carpet has been pulled from underneath them and faced with reality, they can't shout loud enough :-)


    Well, we do not own anything in BR or such other schemes. So there is no question of carpet being pulled.

    But when you take possession of the flat, do check flooring below wooden carpet. Who knows what will you get to see ;)

    To get a clue, start looking from parking area. That will give you hints of what to expect when you yourself pull the carpet in your own flat
    CommentQuote
  • Originally Posted by Superduper
    Call it generation-gap, call it learning-disability, call it sour-grapes, call it whatever.....
    Someone wise said "evolution in mind-set happens from funeral to funeral"

    Suamuni and Ankit, why argue with the old mind-set ?

    They know carpet has been pulled from underneath them and faced with reality, they can't shout loud enough :-)


    True that..the forum does tell you about the rigidness of the old mindset..you have to accept the fact that some people will only believe in what limited exposure they've had and are not willing to adapt with the times..
    CommentQuote