Sunday, February 15, 2009

What should be the rational property rate of Blue Ridge Hinjewadi?


Paranjape Schemes wants to know your "rate expectation"!

Can you help Rajesh, who wants to book a 3 bhk flat in Blue Ridge? Please!

I could have send and archive reply to his e mail like i usually do but i was impressed with the fact that Blue Ridge is asking the property buyer about his expectations!

If you had read my post "Do you fear your builder?", you can understand why i was so much impressed.

Read what Rajesh writes:
Actually, last year, I had a very strong desire to buy a residential property in Pune and was interested in the Blue Ridge Project. I made a short visit to Pune last June and visited their site and was quite satisfied by their construction quality. I was actually planing to book a 3BHK property in the phase 2 of their project which came up during Diwali time but found their asking price too expensive. Now I have received a mail from the builder asking my interest and my rate expectation. Could you advise what would be the fair value in Blue Ridge Hinjewadi? The reason for my interest in Blue Ridge is (1) Paranjpe Builders is reputed builder (2) I work in IT and may settle in Pune in the next 3-4 years.

What would be the fair value of Blue Ridge Hinjewadi?

How i look at property rates?

For me it is not easy to answer this. Because I am not a critic or an activist fighting against the greedy builder lobby. I am real estate salesman who blogs to help the property buyers to book a flat in Pune real estate market and i announce it before i open my mouth.

I always try for the win win solutions. Because, the basic law of the real estate is to sell at a maximum possible rate. (Even you try to get a maximum rate when you sell your old flat. Right?) At the same time, rate increase should motivate the property buyer to book!

Remember the most frequently used sentences to motivate the buyer to book immediately? "Rates can go up any moment!" "My boss can call anytime!" "This is a current rate. I don't know about tomorrow!"

Why Blue Ridge was the best buy?

But in last couple of years, rate increase has gone out of control. Instead of motivating, property rates started discouraging property buyers from booking.

Property rates in Pune reached to such a level where very few buyers can really afford.

Plus, if you read the comments on my old blogs, you will find that the property buyers, who can afford, were totally unhappy with the infrastructure development of Baner - Balewadi, Wakad, Rahatani and Pimple Saudagar.

Add to it, the poorly planned projects by the builders with no or bad track record who launched the projects before completing the legal and corporation formalities.

Exactly, at this point, Paranjape Schemes launched Blue Ridge, an integrated township of 138 acres which offered international life style - better infrastructure and long list of amenities - close to your work place in the 1st phase of Hinjewadi at the property rate of Rs. 3,200 and rest is the history...1 flat booked at every 84 seconds!

This could happen because at that point property rate in Aundh annex area was around Rs. 2,600 per sq.ft. where as at Baner it was around Rs. 3,000. Means though being located at an unusual but not unfamiliar location of Hinjewadi, Blue Ridge's pricing was competitive as well as attractive.

Of course, at Blue Ridge, like other projects launched at that time, formalities were not complete, sample flat and site office was not ready but the track record and reputation of the builder - Paranjape Schemes - was exceptionally good. Which motivated property buyers to book at an unbelievable property rate of Rs. 3,200 per sq.ft.

Pre Launch Property Rate of Blue Ridge:

However, at Paranjape Schemes' office couple of weeks before the project was launched officially, pre-launch booking of Blue Ridge was happening at the property rate of Rs. 2,700 per sq. ft.

Basic Property Rate According to Paranjape Schemes:

Considering that the American Dream is over and henceforth we can't use Uncle Sam's credit card to fuel our GDP growth, we should be responsible and realistic. I think, we should accept Paranjape Schemes' basic pre- launch property rate of Rs. 2,700 per sq.ft., not only for the 2nd phase but for the bookings of the 1st phase too.

Ramesh T Jogani's advice:

Besides the property rate, i am sure, Paranjape Schemes' would be happy to follow Mr. Ramesh T. Jogani who is their financial advisor and one of the most respected real estate marketing professional in India.

As per Mr. Jogani's suggestion, on their own, Blue Ridge Hinjewadi will cancel covered car parking charges of Rs. 1,50,000 and floor rise of Rs. 20 per floor for 8Th to 20Th floor and bring down the premium rate, Rs.3,800 per sq.ft., applicable for 21st to 25Th floor to Rs.3,200 per sq.ft.

However, you can't expect Paranjape Schemes' to reduce the infrastructure charges of Rs. 1,00,000 because they are going to provide you infrastructure services like water, electricity, waste management, security and all.

What about maintenance and the sustainability?

For sure, sustainability of Blue Ridge is a big issue! Till now, it is not clear to me how this township is going to sustain? Because SEZ is not a part of Blue Ridge Township and hotel or mall and multiplex may not generate enough revenue to make this township sustainable. Every property buyer should visit DSK Vishwa to understand the importance of sustainability.

Be realistic and reasonable:

You can't expect to get the property rate of Rs.2,700 without making few changes in the original plan of the township. For example 2 level under ground car parking, few amenities, open space may be canceled. In fact more than making few changes, Paranjape Schemes and Arc. Aniruddha Vaidya and Associates must look at the planning of the entire township in the new light and rework on it.

Globalization, Indian growth story, fastest growing economy, emerging markets and all is over, gone, finish. World is in "deep recession". India may go into deflation. Whenever we will come out of it, world would be different. "Buy American" is just the beginning.

Point is nobody dreams of becoming a world citizen anymore. But citizen of Paranjape Schemes? Any time!

What is your take on the rational rate of Blue Ridge Hinjewadi?

Dear Rajesh, according to me Rs.2,700 per sq.ft. + 1 lakh infrastructure Charges + Stamp Duty @ 2% (approx) + Registration fees 31,000 is the right price for Blue Ridge at Hinjewadi.

Which means that total cost of C type 3 bhk flat of 1730 sq.ft. would be Rs.48 lakh (approx) and 2 bhk flat of 1335 sq.ft. would be Rs.37,35,500. Rajesh, this pricing will make Blue Ridge attractive and safe investment destination for you.

This is my suggestion to Rajesh. What would you like to suggest? What is the rational property rate of Blue Ridge according to you? Please, quote your rate and your reasoning in the comments (Comments Policy), forward this blog post to your friends - ask their opinion, post this on your company intra net and help Rajesh to book a 3 bhk flat at Blue Ridge. Thanks!

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41 comments:

  1. Hello Ravi,
    When few Builders in Baner and Aundh area have already started distress selling @ rates 2200 or 2400 ( that too ready possession), why Rs. 2700 per square feet in Blue Ridge? Just because its vicinity to IT companies, which have already started cutting jobs? It will take at least 1.5 years for IT industry to revive and what is there in Hinjewadi except IT?
    Well I would suggest, instead of paying Rs. 2700 per sq feet, why not to go for Farm house plot @ Rs.125/ sq feet which is nearby to IT park by Sairang developers? ( It comes to around 12.50 lakhs for 10000 sq feet. Cash is required but you can negotiate payment terms as you say in case of Builders).

    This is smart marketing gimmick by Builders and nothing else. They will reduce the rates by 5 to 10% to show the people that they have done some thing to avoid the cancellations. When they acquired land long back what was the rate? The construction material cost has been drastically reduced. So effectively by reducing rates by more than 50%, they still have Hefty profit margins as compared to any other industry, but there people still want to keep their ROI intact as that of boom time.

    As per your article few days back, they are not even returning money to people who have cancelled their booking till the time their flat was booked by someone else.
    These are all foolish tactics. Considering current situation, and amenities available in the vicinity of Hinjewadi, max rate should be Rs. 2000-2200 and not a single paisa more.

    Your thoughts please

    ReplyDelete
  2. Ravi,

    As we are talking about townships, what should be realistic rate at Nanded city, Magarpatta, Amenora Park?

    Your thoughts please...

    ReplyDelete
  3. The rates should not be more than 2200 at the max no matter who the builder is. Dont forget how builder also earns money by the way of exhorbitant maintainence charges etc.

    The Hinjewadi area is not going to develop for atleast 5-7 years and locking your money is complete waste.

    ReplyDelete
  4. There is a significant risk to the project being completed on time and as planned. I would like to stay away from this project. I would not buy at any rate offered.

    ReplyDelete
  5. Rajesh,
    Don't pay anything above Rs. 2400 per sq. ft. at Blue Ridge and also you need to keep great patience to get possession, things are not simple these days.

    ReplyDelete
  6. Hi Ravi,

    A nice try to come to a appropriation on prices. But not really a good picture.

    Infrastructure cost - 1 lac per flat, I would accept only after understanding what infrastructure are talking about and what would be additional cost of using this infrastructure and off-course the sustainability of such model.

    Now lets talk about basic price. Being only near to IT park is noway the best parameter to calculate the price. The best parameters are:

    1. Distance from the center of city (this is true across the globe)

    2. Infrastructure provided by the local government in that area

    3. Availability of options of picking up different profession

    Also, the prices should be based on current availability of infrastructure and not the future expectations of infrastructure. The gain due to improved infrastructure should not go the builder / speculator but to the real investor or the consumer.

    Considering all these, according to me the price of Blue Ridge should not be more then 1723/- psqft. I am quoting this hight price because I am very optimistic about the future of India.

    ReplyDelete
  7. One more: The wait period is too much for the possession of the flat. Also, the wait period for so call 'World Class Infrastructure' is much longer.

    I would say that Paranjape is trying to show 'Hatheli pe Chand' by talking about World Class Infrastructure.

    ReplyDelete
  8. I agree with the first comment in totality. I get the feeling that your suggestion of Rs. 2700/- is not very honest as far as buyer is considered, it sounds more like a workaround in favour of the builder.
    I heard that the Paranjape Scheme on Paud Road near Ambrosia has been canceled because people have canceled their bookings. I also know that paranjape builder's scheme "Crystal Garden" is also in a limbo because of the plans not being sanctioned by PMC. I know about Crystal Garden because my cousin has booked a flat there but they have been delaying the registration for the same siting the reason above.
    So this does not give me a enough confidence in Parnjape Builders to put my hard-earned money in their township which is already on the death bed.
    So to answer the question you asked, I'd rather keep my money away from it. At the same time, this could be a big opportunity for a investor who can take the calculated risk.

    ReplyDelete
  9. What is 'Calculated Risk'? For me it is about knowing the quantity of risk I am taking and also to ensure that I do not incur more risk then I expect.

    We can achieve this by setting a 'Stop Loss' target for any asset class. However, just imagine this situation:
    - You book a flat at Paranjape @ 2700/- with a stop loss @2200/-.

    - If the prices in this city, in worst case scenario, NOSE DIVED. You started getting offer from other Cat-A builders @ say 1800/ psqft.

    - Now you want to sell the flat in Blue Ridge @ 2200/-.

    My question is: Can you sell it? Consider this:
    1. If the market is in real slider, you will not be able to sell it @2200/- You will have to wait for next upturn.

    2. The builder (Paranjape) will not allow you to sell the flat unless you pay the total cost of the flat. This is generally followed by all builders.

    So - where is the question of taking a 'CALCULATED RISK'. There is no such theory of 'Calculated Risk' in Indian Real Estate market. It is all 'Speculative Risk' in Indian Real Estate.

    ReplyDelete
  10. I think the rate at Blue Ridge should not be more than 1700 to 1800 psft max. There are lot of uncertainties with this project, like possession date, infrastructure, Hinjewadi currently isn't a habbitable place at all. Even if Paranjape is going to provide a lot of amenities it is still a long time from now. I would rather buy a read possession property rather than book a flat in Hinjewadi.
    Regarding the first poster's comment about buying a Farmhouse plot in Sairung Developers. If given a choice between Blue Ridge vs Sairung, I would go for Blue Ridge. Buying any Farmhouse plot, be it from Sairung, Kirti, Riddh-Siddhi is very very risky in Hinjewadi, since all the land is in agriculture zone and government is aquiring a lot of the land in that area. I have heard lot of people repent their decision after buying from Sairung.

    ReplyDelete
  11. Dear Ravi,
    I am an engineer & work in designing of mechanical equipments. When we start design we do customer survey & most important point in survey is what customer is willing to pay? Then we work around different concepts, built business case doing value analysis. That tell us additional cost needed for each additional feature vs additional price we demand from customer. This gives us optimum design which maximizes profit without squeezing customer.
    This basic approach is missing in Pune RE. Builders in Pune need to take professional approach with current situation & need to understand the willingness of customers to pay & work around that. Currently Pune RE is working in exactly opposite direction. It is calculating price starting from cost to build + profit + taxes. I think you are also doing same mistake by starting at Rs 2700/-.Rather than builders should be coming to Cost in which project should be managed = Price - tax - profit margin.
    This is good news that Blue Ridge started asking customers how much they are willing to pay. Hope they are working towards specs within which they manage the cost.
    I am also in same league as Rajesh. For me it is ok to pay 42L for 3BHK apartment in Blue ridge if it is ready possession & all amenities are completed with more than 60% buyer are actually started living in society. If it is booking then I will go for max 35L for similar apartment if possession is within 1 yr. Definitely not interested in anything whose possession is after 1 yr. as current market conditions showing direction towards downward than upward.
    Thanks

    ReplyDelete
  12. # ref: "No ethics. Real cheats."

    Please, do not jump to conclusion. Moderate means i can reject or publish the comment. I can not edit. I may have to reject this type of a comment because you know why. When i let it publish means i agree to it - endorse it. Can i say this on the face of builder? No! I can't. Then how can i let it publish? I have to reject it. Which i will. We will miss your valued contribution to the conversation!

    ReplyDelete
  13. Nothing wrong in saying No ethics, real cheats, if many are cheated by builders in the past. Let the truth come out.

    Unfortunately, this is a conclusion of Pune Realestate

    ReplyDelete
  14. # Ref: " Let the truth come out."

    - First let me clear: Remark "No ethics, real cheats" was not for Paranjape Schemes but for somebody else.

    - Yes, i agree with you. I have a great respect for those who fight for truth. But this blog is not a right place. I suggest you to go to the consumer court, take a legal action.

    - Do you think you can get a justice by making a passing remark in the comments, Mr. Anonymous?

    - Forget about justice, you miss an opportunity of warning others by sharing your experience if your comment is not published. So, please, do not make this type of remarks. Share what happened, your experience with proof.

    - Before writing this post, because Rajesh has not forwarded the original letter, i had cross-checked whether Paranjape Schemes has really send this type of a letter or not.

    If they hadn't, then i wouldn't have written this post like this.

    ReplyDelete
  15. Hi Ravi,

    I was tracking blue ridge project from long time and was interested in booking apartment there.

    After reading this article I mailed blueridge management to ask their current rate and they are quoting currently 3500 per square feet (2BHK costs around 43)?

    But my question is can we bargain around 10 to 20& on this their (3500) new tag, or they will simply not listen?

    I am fine If I will get in range of 3100 sqft.

    Waiting for your advice.

    ReplyDelete
  16. Hello Dhaval!

    You should negotiate.
    You should do it professionally. Sorry, do not mean to offend you.

    I mean, please, keep in mind that you do not earn your living by negotiating property rates.
    Booking flats is not your day job. You do it ones in a while.
    Whereas, you are talking to the best and experienced salespersons, Tamaskar and Jawhar, who negotiate rates and get bookings every day.

    Keeping this in mind, you have to try your best.
    You want to book and you have necessary resources is your biggest strength.

    First, you have to realize that you are buying a service, not a product. Means you are not negotiating with the shopkeeper. You are company and builder is your supplier. You are a purchase officer and your builder is a vendor.

    As a buyer of services you have a right to ask questions and proofs.
    It's service provider's job to fulfill your needs in your budget.

    My experience is property buyers with this attitude get better rates.

    (Please, see that you are not unconsciously disclosing your cards - your rate expectations!)

    ReplyDelete
  17. Very very important question.

    Will the aminities be shared among the town ship owners OR it will remain property of Paranjape? who will charge you to use it after 5 years once you will show prescence in desert. OR they will use it as private clubs like Corinthians Club.

    If Town ship owner will not have any ownership on the aminities then 1700 is the max rate I will pay. If the township owners will own the aminities, my take is 2400.


    Anyway in Baner the prices will correct to 1800-2400 range.

    ReplyDelete
  18. Thanks for your comments Ravi, As you mentioned about conciousness but I do not think builder like Paranjpe will go till 2500 to 2700 per square feet for blue ridge?

    I have mentioned 3100 to 3000 is because they will not go beyond t hat.

    Do you think rate can happen like 2700 in near future for project like Blue ridge(I mean probablity)?

    ReplyDelete
  19. # ref: :Do you think rate can happen like 2700 in near future for project like Blue ridge(I mean probablity)?"

    Hello Dhaval!
    Remember i posted a blog on this topic?
    Won't happen.
    Unless you make it happen.

    ReplyDelete
  20. # ref: "town ship owners OR it will remain property of Paranjape"

    - You mean 'flagship infrastructure'. Right? Then Rs. 1,700 per sq.ft.

    - Township Owners means a co-operative society of the unit holders? Like in smaller projects. Right? Then Rs. 2,400 per sq.ft.

    - Why? Because of the ownership of amenities!

    ReplyDelete
  21. While they are struggling with Blue ridge, today they announced Forest Trails a new township in Bhugaon.
    I am not sure what would be its fate. They should first assure us of blueridge before jumping to other schemes and diverting funds to the new scheme.

    ReplyDelete
  22. The objective to buy in Blue ridge is to own the amenities & surrounding area by the society (the town ship residents). That is why we are ready to move into village, pay
    such exorbitant rate.

    We are not delighted to see some private club around the house for which I have to pay this rate & to live far away from city in a false hope that the society have so many amenities.

    Instead of taking membership in Paranjape or Flagship club I will prefer a location in city near to some private club not Hinjewadi village.

    Can you please clarify on the amenities ownership issue?

    ReplyDelete
  23. Many luxuries in BR are not free for the flat holders, they come at extra cost/subscription/monthly charge.

    ReplyDelete
  24. Do you mean that, to sell aminities to people , BR is constructing township. Else who will go to village club ?

    ReplyDelete
  25. Hi Ravi,
    why is blue ridge on the agreement there is no mention of chargable area, there is only mention of built up ad carpet area.
    What is the chargable area? The way I look at it I had booked a flat of 3029 sq ft at Blue ridge for Rs 3000 per sq ft and the cost to me after taking away the parking and the development charges if you equates to Rs 3300 per sq ft on built up area. When I spoke to the Blue ridge guys in the office they say the 3039 sq ft is the chargable area? Is it a new trend in Pune or the builder is taking the buyer for a ride??

    ReplyDelete
  26. Hello,

    Any idea what is the current price going on @Blue Ridge. I am doing my home work and would like to know current price/sqfeet.

    TIA,
    MG

    ReplyDelete
  27. Hi,

    Does anyone know what is the current price at Blueridge ? It would be very helpful if someone who has recently enquired or purchased the flat there, can post the information.

    ReplyDelete
  28. Blue Ridge folks are quoting Rs 3500 / s ft. The sales person also mentioned there are flats available (Though not much flats, again this would be mktg gimmick). But considering the location & overall economic scenario (remember we are not still out of recession, only that feel good exists) I think 2700 /s ft mentioned by Ravi & the pre launch price is appropriate price.

    Blue Ridge would be developed in 5 Yrs (Take a buffer of 1-2 Yrs) and you are looking at 2016 /2017 as completion date of complete project. Megapolis Smart Homes are being offered at 2300 /sq ft. I would give 400 extra to Paranjpe name and Phase 1 :)

    ReplyDelete
  29. Well its been now almost 3 months after the last comment, and still the picture is not clear as to the BL town ship plan for the rate of 3500 per sq.ft, quoted by the Paranjpe is the appropriate price. Also as far as the project advancement is concerned i guess only 2 towers are standing as against the 15 towers. And for the project started in 2007, and now its 2010, 2 incomplete towers is now very impressive. Any comments on these issues. Also the most important factor for every resident is who is responsible for the maintenance of all the amenities as mentioned, or will the apartment holders have to shell out later. There is a saying "haath laga par muu na laga"

    ReplyDelete
  30. rates at Blue ridge is way tooooo toooo higt . they are quoting 3500/- shamelessly on 12th march, 2010.

    Lets not allow pune's cheaters builder lobby to loot your hard earnerd money so easily. dont book flat at BR beyond 2700/- rate.

    Rama group launched air castles at 2448/- rate. peopels had booked flat at below 2000/- before pre-launch. distance between air castles and BR is 4-5 KM in hinjwadi only. both are prestijoius group then why prices have such big difference. god knows.

    but lets not these cheaters loot your money so easily.

    Manish M

    ReplyDelete
  31. exactly manish is right
    Manish M

    ReplyDelete
  32. and the same thing applies for Megapolis Project, they are quoting a rate of 2800 per sq.ft., and only 3 km from BL so why is there so much difference in the rate,best thing to do is avoid these projects, and they will have to bring the rates down

    ReplyDelete
  33. Mr Ravi, Your comments on the Swiss County are absolutely hilarious and true. Both my wife and I had similar thoughts after a visit to the site. Compare this with the feeling of spaciousness created by AB Group in their Megapolis Hinjewadi project.

    ReplyDelete
  34. I feel Blue Ridge's pricing has influenced the rates at Megapolis just as their rates have influenced those of Air Castles. In my considered opinion, the cost of construction should be presently hovering around Rs 1200/1300. Adding a value of 15% profit, it works out at Rs 1380/1495. If the rest of the rates represents price of land, then that is much to high for the barren land of Hinjewadi. Asfor MIDC, it should be their stated goal to create an IT hub which adds to the nation's GDP through business it generates. Hence providing cheap and reasonable housing in the area would keep saleries low and keep India's IT industry more competitive. But do government servants care ?

    ReplyDelete
  35. It is really rediculus that BlueRidge builder is asking such high rates for his so called name/fame.

    Currently hinjewadi is not at all suitable for living with family. Who will give such high rate of 3500psf in this bare land, while you are getting good projects in Baner @3200psf.

    Hinjewadi will take atlest 6-7 years to develop(that too we don't know), while Baner is already developed considerably.

    If you wish to invest in Hinjewadi then be careful to invest in such high rates, since i can guarantee, there would be no appreciation of your money and property rate will be same even after years.

    In my openion in BlueRidge/Megapolis prices should not be more than 1800-2000psf that too since they are providing amenities and it is a big township.
    Also keep in mind that there are lot of chances of failure of big townships projects, if property is not booked because of high rates.

    Prices at Hinjewadi is never going to rise much since expansion is hapenning and more good and developing area's are already present.

    Like Aundh is saturated and there is no scope of expansion. But if you see area like Wakad, Baner, Balewadi, Pimple Saudagar, Kalewadi, these are now growing since they are adjacent to Aundh.
    But Hinjewadi is currently out of this race, as long as above said areas not developed/saturated, no one is going to come to Hinjewadi to live because a family man can not see only office, he need to see his wife's office, good school, good college, good shops and malls and many more things.

    Those who already booked at high rates are already in the grip of builder and you are gone, just see when this project will complete and how much property appreciation you get :)

    But who still did not booked just think and decide. Fearlessly talk to builder for your price, if they don't agree just walk out and look for some good projects in Wakad/ Baner/ Balewadi/ Pimple Saudagar etc.

    Jai Maharastra, Jai Hind

    ReplyDelete
  36. I just visited Pranjape Schemes's Stall in Premium Property Exhibition in Westin this weekend. They are quoting 3500/sqft for 1BHK flats and 4200/sqft for 1 BHK loft flat (which they are saying is a new concept, though I have to visit the site to actually believe it). Also the asking rate for a 2BHK flat is 4200/SqFt.
    Can somebody please explain me why the difference in rate for different configuration of flats? I understood, that there could be a price gap for amenity/garden facing flats as such, but why for a 1BHK and 2BHK and for that matter a 1BHK and 1BHK loft flat?
    They are also saying they will finish towers 1-8 by Dec 2011 and hence the possession for flats in those towers, but not sure about the completion of the entire project.
    Also if not all basic necessities and amenities are finished the flat that you buy can only be rented out to bachelor IT professionals, coz of the distance from life there.
    What do people think now, that the prevailing rates at BR should be? Also whats the take on 3-5 years ROI, in terms of appreciation of rate, rental, etc?

    ReplyDelete
  37. Ref:"What do people think now, that the prevailing rates at BR should be?"

    -Considering the number of bookings happening today, don't you think that Pune property buyers are happy with the current property rates at Blue Ridge Hinjewadi?

    ReplyDelete
  38. I am not sure, i just came back to Pune after 4 long years, and in the process of making myself aware of the RE scene in Pune.
    Why is the ask rate different for different configurations in BR?

    ReplyDelete
  39. Dear Mr. Karandikar,

    I came across your blog while researching on BlueRidge, HInjewadi.

    We are originally from Mumbai and now settled abroad and were looking to invest in the Pune/ Mumbai.

    BR was mentioned by our friends who were looking at a long term investment oppurtunity. We have been advised that all the Duplex apts (800 sqft) have been sold and the only available ones are 1 bed (570 sqft) with a rate of Rs3500/ sqft. However the only available ones are over the 17th floor which incur additional surcharge of Rs20/sqft/flr.

    What would be your advise for us who are looking for long term investment/ potential rental income with a budget of around Rs 25 lakhs. Do you think a rate of £3700 for a 1bed at BR is realistic.

    I would be grateful for your expert advice on this matter as having stayed away from the India property scene, we are unable to decide.

    Many Thanks

    Kind Regards

    V

    ReplyDelete
  40. Hello Sir,
    I read your blog and found its very helpful for first time buyers. Thanks for this blog.
    Now i am new buyer and short listed few projects: 1. TCG hinjewadi 2bhk at 5400/sqft 1100 area. and 2. Saarthi group SkyBay Mahalunge 2bhk 920 area at 4800/sqft rate. Please let me know what negotiated price will be safe buying for my personal usage. Or any other area/projects with good price aroung 4000/sqft. Waiting for your expert advice.
    Thanks in advance. Geet Taunk

    ReplyDelete