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
3885 Replies
Sort by :Filter by :
  • Prices in BR are almost stagnated from July, 2012...this in spite of decent sales in newly launched towers

    Clearly stagnation is visible across Pune RE...(one of the exception is Megapolis which kept on increasing prices in Q4, 13)
    CommentQuote
  • Originally Posted by Baruch
    Prices in BR are almost stagnated from July, 2012...this in spite of decent sales in newly launched towers

    Clearly stagnation is visible across Pune RE...(one of the exception is Megapolis which kept on increasing prices in Q4, 13)


    Let me guarantee one thing, prices in BR are not going down in absolute money terms!
    CommentQuote
  • Originally Posted by Baruch
    Prices in BR are almost stagnated from July, 2012...this in spite of decent sales in newly launched towers

    Clearly stagnation is visible across Pune RE...(one of the exception is Megapolis which kept on increasing prices in Q4, 13)


    BR has a history of revising prices in only 1-2 times a year, but it's big steps they do...
    They were 3000 on launch, 2800 in 2009, 3500 in 2010, made it 4000 late 2010, 4500 in 2011 mid and 5400 in 2012.

    The only exception is the Rs. 100 hike they did in Oct 2012.

    ~D
    CommentQuote
  • BR will hike the prices when they launch towers 18 & 19, possibly after 75% of booking is done at towers 20-23.
    CommentQuote
  • CommentQuote
  • One of my friend like to buy 1 BHK at BR..Possession will be coming April..If anyone interested let me know.
    CommentQuote
  • Originally Posted by prawins
    One of my friend like to buy 1 BHK at BR..Possession will be coming April..If anyone interested let me know.


    Interested in what?

    Taking that flat on rent or some kind of group booking or are you asking if there is any seller here?
    CommentQuote
  • Hello Friends,

    I have recently paid advance money for 3 B/R Golf Course facing flat on higher floor. This is ready to occupy flat and is a resale transaction. Very soon i will be getting it registered.

    I have been following this thread for a long time and it has been very helpful in making my decision for the flat. So in order to further help future buyers and give it back to forum, i have listed down Pros and Cons which came to mind while purchasing the flat at Blue Ridge

    Pros

    - One of its kind project. If I am not wrong there are not many projects in India (less than 5 ?) which has the golf course inside it . Definitely the first one in Pune or infact in western India
    - Project is not on leasehold land like Megapolis
    - Reputation of Pranjapay
    - Very good location . Being in Phase I it already has advantage over other townships like Life Republic, Megapolis and even ultra luxurious project by Lodha
    - Layout of the project and flat
    - East/ West Facing flat in ready towers
    - World Class Amenities
    - SEZ already running
    - Extremely close to my office in Phase II
    - According to Knight Frank report : While 16.8 million sq. ft. of incremental office space stock will be added to Western Pune , the East will only add only 9 million sq.ft. In addition office space in Eastern Pune is scattered :Hadapsar, Kharadi, Kalyani Nagar, Magarpatta City and Nagar Road; whereas 80% of the office space in West is located in Hinjewadi
    - Knight Frank reports estimates that prices in hinjewadi will double (i.e. appreciation of 100%) in next 5 years
    - Township projects always demand higher value , more so when it is fully operational
    - Excellent Construction quality
    - Already running school from almost last 2.5 years
    - Nearby infrastructure (Hotels, Banks, restaurants, eating joints etc) coming up very fast
    - Excellent surroundings, climate and greenery around project

    Cons
    - It will still take long time for social infrastructure to develop
    - Builder may not provide all the amenities as promised
    - Project may not be well maintained in future . Being a township project it will be a challenge to maintain project with different societies.
    - High Maintenance cost
    - Price seems to be already on higher side. While Knight Frank report estimates 100% in next 5 years, however the avg current price according to KF report is 4K . The current BR price is much higher than the avg price of location
    - BR may end up investor's society rather than end users
    - Golf Course may not be maintained well. In addition, heard that golf club membership is only for 10 years and not transferable
    - Six Lane wide road starting from Balewadi Stadium to phase I and III , will take a long time (more than 5 years ) to come up.

    In the end, Pros outweighed Cons and I decided to purchase flat
    CommentQuote
  • Originally Posted by rendezvous

    My choice was number 3. Tower 22. Higher floor, river facing. Reasons were as follows ...
    - Within budget. Was the cheapest option available. Although I do get less area, it's not a deal breaker.
    - East west entrance. Although I am not a big vastu believer, it matters when it comes to sell the flat off.
    - There will be more activities towards the riverside than the golf side, as the golf side will have membership and restricted entry. There is enough space between the river and the buildings and it will be nice view. There is childrens play area, jogging tracks, volleyball, boat club etc on the river side, where as nothing on the golf course side other than the golf course.
    - Higher floor available at cheaper price. I will be very happy with the panoramic view of the city, especially late evening or early morning! Someone mentioned on the forum that BR started selling due to golf course. I beg to differ there... BR started selling because everything else started selling as well. A big differentiator IS the tall buildings, and there will be no buildings taller than 11 stories anywhere around, so flat which is higher will command premium. This is true in the US market as well, with the flat costs being as much as double in the same building.
    - Golf course is not full golf course, it's only a 9 hole (half course), so the distance between the buildings will not be as much as is being shown on the website. I am slightly afraid it might be just too close and you will end up seeing 20 buildings all around you (around the golf course). Not sure, but there might be long shadows in the morning and evening in the entire township.
    ~D



    Hi Rendezvous, you may be right in your analysis above. However, to be honest what attracted me most in this project is the Golf Course . If there would not have been golf course i may have decided not to purchase the flat in BR. Golf Course is primary reason for this project to be unique.

    Hence, if you have still have the option to change and if the budget permits , my suggestion is to consider golf course facing flat on higher floor
    CommentQuote
  • Originally Posted by Propleo
    Hello Friends,

    I have recently paid advance money for 3 B/R Golf Course facing flat on higher floor. This is ready to occupy flat and is a resale transaction. Very soon i will be getting it registered.

    I have been following this thread for a long time and it has been very helpful in making my decision for the flat. So in order to further help future buyers and give it back to forum, i have listed down Pros and Cons which came to mind while purchasing the flat at Blue Ridge

    Pros

    - One of its kind project. If I am not wrong there are not many projects in India (less than 5 ?) which has the golf course inside it . Definitely the first one in Pune or infact in western India
    - Project is not on leasehold land like Megapolis
    - Reputation of Pranjapay
    - Very good location . Being in Phase I it already has advantage over other townships like Life Republic, Megapolis and even ultra luxurious project by Lodha
    - Layout of the project and flat
    - East/ West Facing flat in ready towers
    - World Class Amenities
    - SEZ already running
    - Extremely close to my office in Phase II
    - According to Knight Frank report : While 16.8 million sq. ft. of incremental office space stock will be added to Western Pune , the East will only add only 9 million sq.ft. In addition office space in Eastern Pune is scattered :Hadapsar, Kharadi, Kalyani Nagar, Magarpatta City and Nagar Road; whereas 80% of the office space in West is located in Hinjewadi
    - Knight Frank reports estimates that prices in hinjewadi will double (i.e. appreciation of 100%) in next 5 years
    - Township projects always demand higher value , more so when it is fully operational
    - Excellent Construction quality
    - Already running school from almost last 2.5 years
    - Nearby infrastructure (Hotels, Banks, restaurants, eating joints etc) coming up very fast
    - Excellent surroundings, climate and greenery around project

    Cons
    - It will still take long time for social infrastructure to develop
    - Builder may not provide all the amenities as promised
    - Project may not be well maintained in future . Being a township project it will be a challenge to maintain project with different societies.
    - High Maintenance cost
    - Price seems to be already on higher side. While Knight Frank report estimates 100% in next 5 years, however the avg current price according to KF report is 4K . The current BR price is much higher than the avg price of location
    - BR may end up investor's society rather than end users
    - Golf Course may not be maintained well. In addition, heard that golf club membership is only for 10 years and not transferable
    - Six Lane wide road starting from Balewadi Stadium to phase I and III , will take a long time (more than 5 years ) to come up.

    In the end, Pros outweighed Cons and I decided to purchase flat


    Good decision for ready possession flat. I would have done the same if I was spending more time in Pune.

    Thanks propleo for the analysis. It will help everyone. Except for the pro written in Knight Frank report, all other points are well thought of. The Knight frank and other kind of reports take into account the historical appreciation and just project forward. They are mostly pro builders trying to sell off inventories at the crazy hot prices. No one can predict the prices and it will take only a couple of scams or lost accounts to trigger mass panic. My prediction is that next wave of depression will be led by a country like India or China ... and I am specially wary of banking and real estate segments. So may be there is appreciation, or there is none. So buyers must take decisions accordingly.

    ~D
    CommentQuote
  • Originally Posted by rendezvous
    Good decision for ready possession flat. I would have done the same if I was spending more time in Pune.

    Thanks propleo for the analysis. It will help everyone.


    Thanks rendezvous

    Originally Posted by rendezvous
    The Knight frank and other kind of reports take into account the historical appreciation and just project forward. They are mostly pro builders trying to sell off inventories at the crazy hot prices. No one can predict the prices and it will take only a couple of scams or lost accounts to trigger mass panic. My prediction is that next wave of depression will be led by a country like India or China ... and I am specially wary of banking and real estate segments. So may be there is appreciation, or there is none. So buyers must take decisions accordingly.


    Agree with you, the decision should not be solely on prediction by some firms like Knight Frank . Though these reports can provide you some useful information about the occupancy rate, absorption rate and upcoming infrastructure development , no one can predict future price appreciation.
    CommentQuote
  • Originally Posted by Propleo
    Hi Rendezvous, you may be right in your analysis above. However, to be honest what attracted me most in this project is the Golf Course . If there would not have been golf course i may have decided not to purchase the flat in BR. Golf Course is primary reason for this project to be unique.

    Hence, if you have still have the option to change and if the budget permits , my suggestion is to consider golf course facing flat on higher floor


    I agree, it's individual choice ...

    Just to make my point above clear ... check this picture, imagine all buildings are built and then think of sunrise and sunset time (4 hrs in morning and 4 hrs in evening)...




    Hope this helps,

    ~D
    CommentQuote
  • Originally Posted by Propleo
    Hello Friends,

    I have recently paid advance money for 3 B/R Golf Course facing flat on higher floor. This is ready to occupy flat and is a resale transaction. Very soon i will be getting it registered.



    Congratulations on your purchase. I can only say, welcome to the club. Thanks for your analysis on pros and cons.

    Originally Posted by Propleo


    - Builder may not provide all the amenities as promised



    Could you please elaborate more on this? What amenities do you think won't be covered?
    CommentQuote
  • Originally Posted by rendezvous
    I agree, it's individual choice ...

    Just to make my point above clear ... check this picture, imagine all buildings are built and then think of sunrise and sunset time (4 hrs in morning and 4 hrs in evening)...




    Hope this helps,

    ~D


    I thought in India its a plus if you have shadows and not have glowing sun shining into your eyes--its not Europe or Canada where the Sun is hardly seen!!! lol
    CommentQuote
  • Originally Posted by suamuni
    I thought in India its a plus if you have shadows and not have glowing sun shining into your eyes--its not Europe or Canada where the Sun is hardly seen!!! lol


    As much as I like the sun and considering that it is good for you, I'm not a big fan of living in an apartment that faces the sun for most of the day. In summer, the apartment gets very hot. Plus winters in India are not that harsh & long where you would benefit from the sun facing sides.
    CommentQuote