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Sunday, October 14, 2012

There is something hypnotizing about Blue Ridge Hinjewadi!

Living in Blue Ridge Hinjewadi:

View Paranjape Schemes' Blue Ridge, 138 Acre Integrated Township, Hinjewadi Phase 1, Pune in a larger map

Nilesh is one of the few 'first' residents of Blue Ridge Hinjewadi. He is living in his 2 BHK Flat for almost a year. He celebrated his last Diwali in Blue Ridge. So, coming one would be his second!

Yesterday evening, I had tea with Nilesh and a couple of residents of Blue Ridge Hinjewadi. Before saying goodbye, I asked Nilesh, "Was it a right decision to buy a flat at Blue Ridge?"

"It's difficult to say 'wrong'. But it doesn't mean that my decision was right! You know? There is something hypnotizing about Blue Ridge. When I booked - Blue Ridge mesmerised me. I am not entirely satisfied here, but I can't say - 'I regret' - 'I was wrong' - because, I am completely fascinated by Blue Ridge. This is not only my case. Couple of my friends and neighbours have experienced - are experiencing - the same!," Nilesh said.

"Yes! I have experienced it today. Everyone was almost under the spell! Is it because of the property price you all paid for your flats?," I asked.

"I don't think so! Though most of us have paid Rs. 2,800 to 3,500 for the per sq.ft. No one feels that he has paid less. It was not exactly in my budget when I booked. I had to stretch my budget. And now, when I am paying EMI, I have to be careful about my finances. See the proof - I am driving CNG car. Point is - I don't feel that I have got more for less. It's not property price. There is something hypnotizing about Blue Ridge!," Nilesh said.

"'Hypnotizing' - are you over exaggerating?," I asked.

"Not at all! Remember what you said when you were at my 2 BHK Flat? You said - very spacious - one of the biggest 'living cum dining' you have ever seen. Right?," Nilesh said.

"I said so because I saw that there was enough space for all of you. There was a space for your daughter. To keep all her 3 tricycles & toys. There was a space for you to enjoy your 3D smart LCD TV. I could feel that your wife must be happy about her huge dining table, proud of her kitchen with fully loaded gadgets. I enjoyed the view from your dry terrace as much as I enjoyed from your balcony. I was happy for you. That's all!," I said.

Nilesh thanked me and went on describing how Blue Ridge hypnotizes you. Blue Ridge Boat Club and the river bank is the place where you lose control over yourself. At anytime of the day. The development is beautiful. Ambience is cool. From that point when you look at the towers, you are overwhelmed.

Another point is the deck in front of my tower. When you stand on that deck and look at the golf course, your rational mind stops functioning.

"What is the effect?," I asked.

"One starts feeling that there isn't much difference between 50 lakhs & 80 lakhs! He forgets about the 2 BHK Flats which he has almost finalized for Rs. 50 Lakhs. He becomes sure that he can easily afford 80 lakh rupees 2 BHK Flat. I have seen this happening with most of my friends. That's why I have come to the conclusion that Blue Ridge hypnotizes you!," Nilesh said.

"But when you booked, there was no boat club - no tower - 8th slab was cast. Right? Then, how did Blue Ridge hypnotise you?," I asked.

"After spending 6 years in US, for me thinking about settling down in Pimple Saudagar was next to impossible. Unbearable. And the idea of 'walk to work' appealed to me very much. Plus, Blue Ridge offered solutions to all things related to my daughter - creche, school & all. So, for me Blue Ridge was a one stop solution," Nilesh said.

"Means now, you walk to work!," I asked.

"No! My office has not yet shifted to Hinjewadi. My wife works in Kothrud," Nilesh said.

"And you are one of the most demanding resident of Blue Ridge! Who invites Ravi Karandeekar to discuss the issue of VAT! And, still you claim that there is something hypnotizing about Blue Ridge!!!," I said.

"Demanding - complaining! Don't forget that, among all current residents of Blue Ridge, I am the one who has paid the highest property rate. It proves that there is something hypnotizing about Blue Ridge! Which makes you forget / ignore all - construction quality issues - complaints, mosquitoes, kamwali bai, delayed possessions, over pricing and whatnot - and go for it!," Nilesh said.

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  1. Ha ha ha, you're too good with this satire thing!! :)

  2. In my VERY HUMBLE opinion, every township project in Pune is a wannabe Magarpatta City (Walk to work, walk to school). Unfortunately the expectations are so high after the success of Magarpatta, i fear that these township projects will fall prey to these high expectations!

  3. "One starts feeling that there isn't much difference between 50 lakhs & 80 lakhs! .......ah super cool :)....
    ""After spending 6 years in US, for me thinking about settling down in Pimple Saudagar was next to impossible. Unbearable. "..........and love this sentence
    zara yaad kiye tere bachpan ke din....

  4. Ravi your blogs are really good......Thanks!!!
    Few days ago I had the feeling that my salary is very less (10Lpa without any performance bonus )but now after reading blogs, I am convinced that the properties are overpriced :)

  5. Ravi, one important question which every buyer face is, I would like to ask you...
    If you had a budget of 40-50 Lacs, then where would you have booked your flat ?...or which projects would you have short-listed ?....Name few in all (East-west-north-south) of pune :)
    Alike you, even I don't see it worth investing more than 50lacs in 2 bhk,
    if it's above 50L, then I will start a business which will definitely give me a return of more than 15% (yaha bahut IT people hai bhai...) and then buy a flat, I don't know why this kids don't understand this simple basic...

    1. Dear Eashan, Sorry. I don't see any property - in any price range - is worth buying for Ravi Karandeekar.

  6. Realy very surprised to see propert prices in Pune and other big cities in India. If I compare prices with London's independant / semi detached homes with lot of front and backs space with garden, where no comparison between quality of roads, intrupted electicity, piped gas and 24x7 potable water and lush community parks between Londo and Indian cicies. What you pay for a flat in multistorey blfg, you can buy buetiful house in Greater London.

    If Mr Karandeekar can answer, why Pune (and cities like Pune) properties are so expensive than London homes. To be honest, I dont know, my head go round....

    1. Dear Ravi, because builders know that Punekars have more money and less self esteem.

    2. Ravi,

      short and sweet answer...and perfect too

    3. Mr. Ravi - which part of Greater London are you talking about? I know the overall comparision isn't quite there but London properties aren't cheap either. Pune takes it to a level which is absurd and not worth the money as the quality isn't there either.

  7. Ravi,

    You have visited homes of so many people to see their property I wish I could have invited you to US to explain you what somebody can get in Rs. 50 lacs(Convert it to corresponding equivalent money in US and NOT JUST CURRENCY CONVERSION, may be 3 to 4 lac dollars in US). I wish I could show you that one can get very beautiful 3 to 4 bedroom townhouse or in some cities you get single family house(a bunglow in indian terms) with enough space around your home, excellent roads, 24 hour water/electricity, some squirrels playing in your garden, top quality construction and what not...

    people in india still need to understand valuation of any product.

    1. This comment has been removed by the author.

    2. and 'what not' ....let me tell you :
      1.See your children growing up with low intellectual power and not to blame US poor primary education system.
      2.Know about your parent's illness through a phone call and thanking doctor for taking care of them while you are playing with squirrels.
      3.Leaving your wife alone in home and let her get bored for whole day.
      4.Missing Festivals like Diwali,Holi,Rakhi and enjoying Halloween when you pose like a ghost.
      and there are countless points.....
      Thanks God ,I refused H1B offer while in US and now settled in India getting biggest comfort of my life i.e. with my family

    3. Great reply, loved reading every word of it.

    4. what a nice reply Ragini :) loved it.
      I am in the us for like 8 years now planning to move back in couple of years and your what not points are the ones I would hate to regret for ten years down the line when i realize i missed 10 years about what life is all about, much more than playing with squirrels.

      25-35 i believe is the age when u ear...go abroad make the money and be back guess you can start with schooling your kids in India and Pune is 'elite' i hate the mumbai crowds and delhi rapes ... pune is pune ...love you pune and thanks Ravi ...your blogs are amazing..keep up the good work

  8. Could you please specify what were the 'construction quality issues' and 'complaints'? We also missed the photos of your visit.

  9. Hi Ravi

    Please could you share you view on 1 BHK in RB ?



  11. I am born and brought up in Mumbai, but am looking for Pune as an investment option. We saw blue ridge abt a year back and also a couple of days back - the site is beautiful and mesmerising. well, the price is slightly higher as compared to the last year, but we are really looking to buy it - Mr. Karandeekar - knowing the Pune market, would you suggest we go for it and what kinda appreciation do you expect in the long run (maybe 5-7 year horizon).

    Appreciate your response.


  12. I am born and brought up in Mumbai, but am looking for Pune as an investment option. We saw blue ridge abt a year back and also a couple of days back - the site is beautiful and mesmerising. well, the price is slightly higher as compared to the last year, but we are really looking to buy it - Mr. Karandeekar - knowing the Pune market, would you suggest we go for it and what kinda appreciation do you expect in the long run (maybe 5-7 year horizon).

    Appreciate your response.


    1. 1) "Appreciation"! What is it, Karishma? I haven't heard this word before!

      2) Yes, if you are going to give your flat on rent - go head and buy it. Why one? Buy many. We need cheap rental housing.

  13. Hello Ravi,
    Its good to read your articles. they are informative and helpfull.
    After searching for a flat for an year we have now zeroed on the following properties
    1. Blue ridge - 2 bhk
    2. kolte patil life republic - 2bhk
    3. Rohan mithila - 2bhk
    We will appriciate if you could share your views
    Thanks a lot.
    -Mallikarjun Patil

  14. Hi Ravi,

    After i read your blog i went for a drive to see blueridge. My personal opinion

    Its location is start of hinjewadi and i was wondering are IT people slaves of their companies that they want to live so close to offic? Also i guess the people staying in housing society in hinjewadi plan to go out only on saturday sunday and national holiday. How the hell you plan to travel on weekdays in heavy traffic. Another frightening thing is in case of emergency say for eg an Ambulance wants to reach your society- forget it. Traffic is hell. There is no social enviornment outside society although inside there might be. Its more like a prison. I am sure most of the bookings are investors (culprits for high rates in Pune) . A 1 bhk studio apartment is 40 Laks ex taxes. are you kidding me? But hey whom to blame , we have lakhs of IT slaves who are DINKS and dont think about tomorrow. Just imagine the kind of debt these DINKS take over themselves.

    Thanks for sharing your insights. I hope you shall publish mine


  15. I always wonder what will happen once all these investors enter the market for selling their flats. In last generation (Generation of people who are in their 60s) most of the people had 1 house (mostly rented) and minimum 2 children. In today's generation we see exactly opposite situation. People have minimum 2 flats and mostly 1 kid. Isn't this going to affect demand supply equation after 15-20 years ?

  16. Hi Ravi,
    i am planning to a flat in blue ridge. I would request you to provide feedback on the quality of construction of blue ridge. Mainly the materials used, over all finishing (including sanitary, electrical, tiling, paint,plaster work, straightness of walls).

    Your feedback will be really helpful for me.


    1. Better talk to the residents of Blue Ridge, Unknown! You will have a great time.

  17. Guys This is paid blog once he is paid he stops writing and answering your queries. He did not even reply your email. Don't believe such bloggers. Its now a days fashion of earning.

    1. I don't write paid blog, Unknown. I can not reply to all emails. When I take long time to reply - generally - people call me on 919860044110. You can call too.

  18. There are about 1 lakh flats in Pune from builder side and another 1 lakh from investor side. These investor are happy on papers only as they may not be able to sell their flats or have to reduce the price drastically when selling. Many investor are facing this problem in Pune. So go and buy only if you are going to stay and don't as investment any where in Pune. But since people don't have much option than real estate they keep investing. I suggest to go village side any buy Farms instead of flats.

    1. "So go and buy only if you are going to stay -" Yes, I agree with you, Unknown! Go and buy "ready possession flats" only if you are going to stay.

  19. Hi Ravi,
    i am planning to a flat in Blue ridge for investment. Please can you advise what could be possible price range I should bargain for 1 bhk or 2 bhk? Also do we aspect price appreciation in next 3-5 years horizon?


  20. Hi, I recently visited Puen for property. Getting 1 BHK in blue ridge for abot 40 lacs.. And Megapolis Sparklet in the same cost. I am unsure which one to go for... From rental as well as returns Perspective. Any insight would be helpful.

  21. Hi Ravi,

    I have been searching for long now to invest my hard earned money (i.e. around 30 lakhs) which I have saved over a long span of 8 years to buy a property for good return and rental. I have been waiting for the right time to invest in order to crack a good deal, at present the Real-estate market is not doing good and I feel this is right time to go for it, but still the property prices at Pune are not coming down. I have an offer from one of my relative for a studio apartment at Blue ridge 571 sqft for 35 Lakh ("special price" offered as stated by my relative).
    Please advise should I go for it??
    If not what will a good alternative for me.


    1. Providing cheap rental housing is a social work. Better buy 100 flats and give them on rent to smart people. Live & earn for the society.