Monday, July 14, 2008

At Paranjape Schemes' Blue Ridge, Hinjewadi, few flats are available for booking!

Be a world citizen!:

Looks like that quite a few people dropped the idea of becoming a world citizen. Today around 25 flats are available for booking at Blue Ridge, Hinjewadi. A township by flagship Infrastructure (P) Ltd. A Paranjape Schemes' Venture.

Property Rate:

At launch, on Saturday, October 27, 2007, booking rate of Blue Ridge was Rs. 3,200. Toady, property rate is Rs. 3,500 per sq.ft. for 1st to 7th floor. After that there is Rs. 20 floor rise per floor up to 20th floor. Real estate rate for 21st to 25th floor is Rs. 4,200 per sq.ft.

All types of flats:

2 bhk, 3 bhk, 4 bhk and 5 bhk, all types of flats are available. In tower 2 (2 flats), 5 (3 flats), 6 (4 flats), 9 and 11(9 flats each) and 14. Quantity is not much but looks like that you have some choice.

2 bhk and 3 bhk flats in Tower 2, 5 and 6:

In the Tower 2, 5 and 6, there are 4 flats on each floor. 2 flats each of 2 bhk ( Carpet Area 1,036 sq.ft. ) and 3 bhk ( Carpet Area. 1,325 sq.ft. ). Saleable area of 2 bhk is 1335 sq.ft. and 3 bhk is 1730 sq.ft. If you visit the website you can see the floor plans and the saleable area statement.

But there is nothing much to see in a 2 bhk or 3 bhk flat. Plans are typical. When i saw the floor plans for the first time, i was disappointed. I was looking at 1975 model of Fiat car, which is used as a taxi in Mumbai, when i was expecting at least Maruti 800. Paranjape Schemes has served "Limited Rice Plate" of Suvarnarekha Dining Hall in 40 piece Bone China set!

2 bhk and 3 bhk Flats in Tower 9 and 11:

In tower 9 and 11, there are 5 flats on each floor. Flat no 1, 4 and 5 are 3 bhk flats. No 2 and 3 are 2 bhk Flats. Generally, we prefer the corner flat but i liked the Flat no.2 more, which is in the middle. It's small (or compact / cozy). Carpet area, as per the brochure, is only 862 sq.ft. And saleable area, as per the website, is 1,141 sq.ft. I liked the layout of the flat. Because of the layout this flat will look like a 'home'. Position of the bedrooms are at two opposite sides of the flat and living, dinning and kitchen is in the middle. This will give some privacy for both bedrooms.

Personally, i do not like the layout of the flat in which private area and public area is divided into two parts. Like you see in the flat number 3, 4, and 5. First reason is, this type of a flat looks like "living quarters" not a 'home'.

Second reason is, in this type of a flat ( flat no 3, 4 and 5 ), all bedrooms are side by side, they share common walls. You do not get any privacy in these bedrooms. Me and my wife are very vocal in the bed and our son sleeps light. We do not want to disturb him, sleeping in the next bedroom. If we had been fond of sleeping in the air conditioned bedroom then, may be, i would not have mind common walls. But, we do not like an A/C in the bedroom. Those of you who enjoy sleeping in the 'sound proof air conditioned bedrooms', i am sure, must be rethinking about it after watching the details of unfortunate Arushi Murder Case of Noida, India.

However, according to the brochure, carpet area of Flat no.3 is 1060 sq.ft. and as per the website saleable area of this 2 bhk flat is 1,361 sq.ft. Whereas, 1,810 is the saleable area of 3 bhk flats, Flat no. 4 and 5, whose carpet area, as per the brochure, is 1,393.

Flat no. 1 is the most unique design i have ever seen. My son, for sure, will like it. In this flat, his girl friends do not have to face us even for couple of minutes before going to his bedroom. Straight away he can take them to his bedroom because we will be sitting in the living room which is not at the entrance of the flat but at the far end. Carpet area of this unique flat is 1,451, as per the brochure. Website says saleable area is 1,814 sq.ft.

Terms of Payment:

Booking amount is Rs. 1 lakh. Within 10 days from the booking you have to pay 10% of the agreement value. Agreement will be done in a couple of months from now. At the time of the agreement, depending upon your flat you will have to pay around 3 to 5 lakhs.

Compare Megapolis and Blue Ridge:

Someone has told me in the comments to compare Kumar Properties' Megapolis and Paranjape Schemes' Blue Ridge. Sure, i would like to, only if i could get the details. Which are little difficult to get.

Here whatever comments i have made are my professional expectations. I believe in certain fundamental features should be there in any floor plan. At the same time, there should be enough scope for the home maker's life style in the planning.

I would like to know what you expect in the floor plan. In the comments, please, share your views on these flats or tell us about any plan you liked. To keep this conversation going, subscribe to this Ravi Karandeekar' Pune Real Estate Blog. To know about my other blogs, please, visit my Google group, Ravi Karandeekar's Pune Real Estate Blog Group. Feel free to call me on my mobile 91 98600 44110 to share your views or even just to say hello! You can also join me on Twitter!

Contact Blue Ridge:

Corporate Office :

PSC House, Dr. Ketkar Road,
Near Suvarnarekha Dining Hall,
Erandawane, Pune - 411004.

Tel.: +91-20-3022 3344 / 2544 0986 / 2546 2128

Head Office :

Tel.: +91-22-2610 5350 / 2610 5165 - Mumbai
Tel.: +91-0231-6523 055 / 2652 362 - Kolhapur
Tel.: +91-02355-255075 / 6 - Chiplun
Tel.: +91-80-25219911 - Bangalore

Site Office :

Flagship Infrastructure Pvt. Ltd.
Paranjape Schemes Venture,
S.No.173, Near Cognizant Sys,
Rajiv Gandhi Infotech Park - Phase-I,
Hinjewadi, Pune - 411027

Call - +91-020-22934900
Fax - +91-020-22934901
email :
website :

Related Stories:

1) Hinjewadi: real estate investment destination in Pune real estate market

2 Buy your dream home now: Experts suggest that investors willing to buy residential properties should not wait. It is better to invest at current levels.

3) Tech Mahindra plans to have a headcount of 25,000 in Pune

4) IT/ITeS to fuel realty growth in '08


  1. I am longtime blog reader of yours. Is this a paid blog post? If it has been sponsored by Paranjape, please mention so in the spirit of neutrality.

  2. @prasoonk, what happened? 1) You did not like something. Please, tell me why do you think "Is this a paid blog post?". 2) No, this is not a paid blog post....3) I agree with you about the disclosure. Sure, it's my moral responsibility to mention if the post is sponsored. I will mention if it is sponsored. 4) Sponsored post is huge, generally, if a builder is my friend, client or if i am fond of the project or a builder, in my post or in my conversation i make it a point to mention this. 5) I think, you did not like the head line. Looks like the head line of an ad? I wrote it as a news head line. 6) I got it. I consider it as a news because i wish if some one wants to book and is not aware about the availability, he should use this info and book his flat. But..... you may have thought.... this is only an ad to sell the flats in Blue Ridge. Right?...... But, prasoonk, i was / am real estate salesman. I write / blog / give information because i want people to own a home. By providing information, i feel, i am assisting ( little bit ) for free. 7) At this point of time, i am tempted to tell you how much time and efforts i have invested in collecting and presenting this info,.... but i will not. 8) Should i take it as a complement? No. Because, for more than a decade i was in Pune real estate advertising. Blog should be a blog. Blog should not be an ad. I take it as a criticism. Thanks for the criticism, prasoonk!

  3. so buyers r backing out from existing booked deals...great. these flats r now available for others ..

  4. Very Intersting Blog. I am sure that it's not paid. I also follow Ravi's Blog from quite a time.

  5. This was long due. Finally some truth revealed. I think one 0 from the count is missing, I was expecting at least 250 cancellations, but certainly there must be more than whatever quoted here in the blog. I know few of them who stepped back, I congratulated them in the same manner that Ravi congratulate builders after rising the price.
    Ravi, now congratulate Paranjape after he rises BR rate by 1000 per sq. ft. in a month. and if he don't, insist him to do so. Afterall pune real estate is rocking, isn't it...!!!

  6. @rahul, thanks a lot! For the comment, complement.

  7. 1) I was expecting at least 250 cancellations, but certainly there must be more than whatever quoted here in the blog. 25 on the day i posted the blog. 250? I agree with you. Generally, 10 to 15 % cancellation is expected. Blue Ridge will need couple of more months to register all the agreements. Means these 25 flats are not the last flats available for bookings.....2) Ravi, now congratulate Paranjape after he rises BR rate by 1000 per sq. ft. in a month. and if he don't, insist him to do so. After all Pune real estate is rocking, isn't it...!!! Pune / Indian / global real estate boom is over. We have had enough talk about real estate price. I think now we should focus on the product, quality and the the you really think only builder, on their own, can increase the property rate? As a real estate salesman, i have always seen two parties. A buyer and a seller. True, credit for boom or slowdown goes to buyers!

  8. Yes, this is tip of iceberg. Soon lots of bookings start getting cancelled as ppl realise the foul play of price hike by catrtel, as well as risks of high debts.

  9. If this is the case with Parajpe Builder having rates upto 3500Rs teh other must think right now because alreary the home loan rates are increased and in the same blog I am reading the huge schemes like Mgarpatta Scheme...Avinash Bhosale's scheme...and many others so if IT market collaps and depending on it if real estate market collaps then uptil now whoever have booked the flats and started living in new houses...will have to definitely think about the huge monthly maintennace charges...I mean how they will keep paying it? once can sustain for few days..because as off now very few societies are formed and not a lot who can think and find out the way to fight this problems....may be you can start a seperate thread on this...

  10. risks of high debts and think about the huge monthly maintenance charges Both are very serious issues. Thanks M/s anonymous!

  11. Follow these principles when you buy properties "To Keep your eyes open":

    1) Don't fear for artificial scarcity (Flats may not be available after ...with ... price per sft.) WE ARE CLOSING OUR BOOKINGS and will start in ...

    2) Don't believe in Social Proofs ... Who's who is present on launching, opening etc.

    3) Don't believe in the dreams showcased the actual layout will be horrible if you compare with teh end products.

    4) Don't be international buy whatever flat, location suitable to your Indian mentality and requirements. In most of the cases , I will advise to buy only when the end product is about to ready.

    5) BUY only a "READY POSSESSION" even a little bit extra cost you are safe, otherwise ... you may feel you have soiled your dream flats.

    6) Visit to the place, location nearby always by "KEEPING YOUR EYES OPEN"

    7) Hire an genuine, technical analyst or consultant, who is not getting paid by Builders but working on your payment or commissions. If any one there of such kind?

    8) Townships will never be succeeded in India for owned residences, if you are an investor compute the ROI and invest in Townships. Townships will have a large supply of the flats from builders also from an investors very soon and the possession to the investors will be delayed significantly to protect the builder's interest. I have about a half-dozen flats are available for SALE much below the developers new booking rates in Pune's first ever planned and partially completed township.

    9)If B.Ridge's first phases flat buyers are canceling their bookings, which of the other townships will be succeeded ??? What happened to a waiting list of 400+. Will they able (I mean dare?) to open their Phase-2 till this Dasara or Diwali??? When the fist Phase will be given for possession and when the flats will be live-able ??? At least Blue Ridge has an established Hinjewadi MIDC as nearby (It is about 8 years of peak rising time taken to establish Hinjewadi), How can some one even make a dream of a new SEZ, Gaming, Animation, IT parks to be developed in 5~10 years, looking at current scenario (SEE THE STOCK MARKET INFOSYS has gone down from 2400 to 1500 in just last 3 months? You may pay off your flat amount in 2 years and the area will be live-able after 10 years. compute the amount of other rentals, interest, EMI & most importantly frustration.


    - RAVI

  12. Thanks Ravi for very vital information. I have already postponed my home-buying plans for a year/two atleast depending on the market situation.

  13. This year the rains were not as expected and we are almost nearing to a terrified situation which will adds up in to more economic chaos.
    So.... more hot air is being blown in to the bubble now and this time it will not just crash but explode....
    There is absolute pannic in the developers but they are not showing up and pretending as if everything is all-right, reality of realty is different and taking a reverse turn...
    So.... investors, please hold on for another yearat least for your benefit, don't step in, otherwise you will loose...
    US and UK economy is boggling down day by day and things are just getting out of their control...
    Indian IT largely depend on them, so obviously, jobs of IT workers are at risk (just check with some IT employees of big companies and ask how their company is doing)
    So....stay away and save your life... once in the recent past, flats were sold at 1000 per sq. ft., today the same area is sold at 5000 per sq. ft. Something is terribly wrong and un-justified, but investors are not realising this and did mad investments in the past 3-4 years at higher rates, just out of craze...
    Save your life now...!!!

  14. Hi Ravi, I am being reading your blogs..I wanted to know what is the scene of realestate in pune. Do you have any review of a project royal imperio, pimple saudagar. I am planning to book a flat over there. What is the best rate to book over? If any other good option apart from that please let me know.

  15. Great blog Ravi. Please keep up the good work. A lot has been said about bubble burst etc. Here is an opposite but logical view.
    I am told by a builder that if land cost is 1300-1500 /sq ft and construction cost is projected to touch 1400/- i.e 2700-2900/- is landed cost to builder of finished flat. How can prices go down below 3200/- in those area. I was looking for some raw land in Wakad with group of 6-8friends to make lavish homes for personal use in about 10,000 sq feet plot each. Looked at many 1.5-2 acre plots nothing less than 1400/- per sq feet. So IMO if land cost does not go down, things will not get cheaper. I think number of new project launches will be postponed.
    what do you think?
    I own a flat in Pashan and thought I was buying it very expensive at 1888/- about 4 years back. I am glad I did a wise thinking that if I was going to be the user of the home( my 1st home) then things do not matter much in short term but on a longer run I will be a winner.
    I think for serious flat buyers should look for a decent builder with good value for money. If you expect a 400 to 800 Rs drop in rate you are expecting unrealistic drop. IMO watch for a good buy between now and Dec 2008.

  16. Dear anonymous above.

    You are just echoing shallow thought projected by many boomers.

    When builder say land cost of 1200+ construction cost 1400, this is bullshit by two aspects.

    For one, most of the landbanks by builders have been purchased years ago at paltry prices. Even most of the project nearing completion now have started construction 3 yrs back. How can they say current prices of land are reason for high prices of flat. Just a pure lie.

    For two, if builders turned greedy and purchases land with tremendous prices in last three years, it is them to blame only. It is their mistrake and they have to bear losses and not we buyers. We did not ask them to buy land at high prices and build flats. If we were not ready to give high prices, that will force builders to buy land at low prices and this spiral will cause entire RE market to go into low/reasonable pricing mode. Even steel and cement high prices are out of cartel, just to eat bigger pie of cake builders are havihg.

    If buyers offer low prices, chain reacstion will force the market to have all input costs to come down.

    There are many unknown and 'known' hypsters and agents in Pune RE market. You know, they are actully screwing lots of families for ther commision. So do not trust builders and boomers. It is their interest to force buyers to buy at high prices. If you have low budget, force market to suit the budget by cutting down greed.

  17. Anonymous of Sunday, July 27, 2008 2:35:00 PM, is a BUILDER by himself.
    I have red exactly same post on another Pune Real Estate blog.
    This buuilder is attempting to appear as a common inverstor/buyer and spreading this shalow message with the readers and make them convinced about why current prices are justified.
    Readers need not listen to such misleading messages.
    I have experienced such ambush of Pune Builders in many instances in the past. They register to a blog/forum pretending as if a NRI IT worker and spread such bullshit among us. Just don't listen to this.
    I only understand a important point here that in the past 4 years, flat prices increased by 4 to 5 times where as land prices and raw material prices didn't, so this statement is not justified.

  18. Don't worry dear. There is not one like this. There are hundreds of bloggers who are joining the web and creating false pictures everywhere including this site as well.

    Just stick to what you think of hyped RE and thats the truth. Don't buy at high prices ever and nothing can stop RE from taking a beating. Because nobody else is buying now. In fact, pl r cancelling the bookings.

  19. Don't follow the property purchase trend instead keep patience and enjoy life without any liabilities.

  20. cmon, 3200 rate for hingewadi ? Nuts ? That village has barely any civic amneties, no public transport..nothing !!! Not to mention, main road is 200% clogged suring peak hours.

    Even comparatively developed areas like wakad and pimple saudagar offer rates 2200-2600 even today. With RE troubles all over, rates in central pune itself are expected to fall in sub-2000 range soon if they are looking for any serious sales to happen.

    And pay such horrible rates in hingewadi village ? Damn...


  22. The residents of Paranjape’s Rolling hills, Pune are left with no proper access/approach road to the society.

    At the time of booking, the residents were told by builder to use temporary access road, passing thru the neighboring plots. It was also told that the builder and neighboring land owners has an understanding. Builder promised that the temporary road will be available for use till the two proposed DP roads are ready for use. Now all flats are sold-out and residents have taken possession. Money have exchanged hands. Now it seems that Paranjape builder lost his interest in the Rolling hills. His understanding(?) with neighboring land owners has come to an end. Now the neighbors have started showing their true colors. Taking advantage of monsoon, these scavengers ( the word 'neighbor' is not relevant now) closed the temporary road and cornered the residents by bereaving access to their homes. Now the Rolling Hills residents are running here and there, begging for help from elusive builder, PMC bureaucrats and undeterred neighbors. PMC is workiiiiiing on the DP road! God knows when DP roads will come in reality. Scavengers are waiting for their booty of new understanding with the residents..

    In spite of paying lakhs and crores for their dream houses, Residents are helpless and fallen pray to Builder-politician-bureaucrat nexus. Residents wonder how PMC has granted 'Occupancy Certificate' to builder without ensuring official access road?

  23. How much is actual rate at Pimpale saudgar ? Every one is quaoting around 3200/- to 3400/- per sq feet. One very well known builder is ready to reduce it to 2800/-. Is it ok or real rate is still low ?

  24. Dear Ravi

    I have been approached to buy a 3 bhk flat in this scheme. Is it worth it at this point in time? What are the rates prevalent in the area and is the rate quoted by paranjpe worth it?

  25. Dear Friend,
    A humble request to you "NEVER PURCHASE Any FLATS/ROW HOUSE FROM G.K. BUILDERS in AUNDH ANNEXUE AREA" as we the resident of roseland residency are still suffering from the false promises made at the time of purchasing flats. They are big time cheaters and still they are fooling the new customers by stating that we have ample space for parking, good amenities but in reality there is a small amenity for 800 flats and 200 row houses.

    Builders are "Mr Vinod and Harish Chandwani" - G. K. Builders/Developers.

    Current Issue: The narrow road for row houses is being marketed as entrance for the Rose valley project which in reality is very less in width for the trespassers.

    Be careful when you deal with the GK builders.

    Your Well Wisher,

    If you get property in Blue Ridge vert for 2200 -2400/Sq. feet then you should go ahead with it. it's 2 years old price when i booked the row house in Pimple saudagar.
    look for the room sizes and also check if there is any discount for parking lot and amenities.

    Current Issue: the narrow road for row houses is being marketed as entrance for the Roe valley project which in reality is very less wider for the trespassers.

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  28. Here is my logic. If you look at the photos of the proposed buildings you will see a small wall projection extending out below the balcony on 20th floor and some other floors too.
    If you ask the BlueRidge office about how far out is that extended wall? They will say, you don't need to worry about it, it is 2-3 feet building projection. For now, let's assume it is 2 ft.

    Refer to the diagram below ...

    height of average person = x = 5 ft
    length of building projection = y = 2 ft
    height of 20th floor balcony from ground = z = 180 ft
    length of invisible area (from 20th floor balcony) = w ft

    |--y-- angle A
    ------w------- angle B
    invisible area from 20th floor balcony

    tan(A) = x / y = 2.5

    tan(A) = tan(B)

    tan(B) = (x+z) / w = (5+180) / w

    2.5 = 185 / w

    w = 185/2.5 = 74 ft.

    Thus a person standing in 20th floor balcony will not be able to see anything within 74 feet of his building base. So forget about the park view or golf course view.

    If the building projection is 3 ft then that invisible distance is = 108 ft.

    So be careful if you are planning to select 20th floor or any other such floor.

  29. With recent rate drop of 2900, the existing buyers at Blue Ridge are very upset as this rate is not applied to the existing buyers. The existing buyers are grouping up via google group "Paranjape_Blue_Ridge_Hinjewadi_Pune". The goal of this initiative is to demand fair treatment and give the new rate of Rs 2900 to existing buyers. There are buyers who have bought at 3200 in year 2007 and 3500 in 2009. It is not fair to reduce the rate to 2900 for new buyers and not give the same rates to existing buyers.

  30. Surya: What would be the appropriate rate to buy the apartment in blueridge. The builder is quoting 3500/- per sq. ft. But I guess in that area 2900 to 3000/- should be good. Please advice. thank you.

  31. Yes 2600 to max 2900 sounds reasonable.

  32. can any one tell me the price in which we can book at Blue Ridge
    I am looking at a Max of 2800/- per sq ft

  33. what is the best rate at present I want to purchase

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  35. Hi,

    Really thanks for such a platform.

    Here is my query.

    I am looking to invest into some property near Pune. Last week came across plotting from Prathamesh Developers at Rajgad, Merawane (facts 75 sq.ft. plaotting). Benefits ..1. Upcoming National Highway 2. Dam construction onway 3. Fund from govt for Rajgad development.

    Now my queries are as follows 1. wll it give me good returns 2. Is this s growning area to invest at 3. will be a good idea for resell at such places.

    Can you please guide me on these for now.

    Really thanks for such a platform.

  36. Royal IMperio , Rahatni Review

    I am a resident of the Royal Imperio. After dealing with the builder since 3 years, I have a very -ve feedback about the builder. THe water seevage problem is so rampant in the society. Everybody is being bullied by the builder for not posting a -ve feedback on internet.
    They dont do things in time.
    They dont do things what they promise in the very beginning.
    THey have proects like ROyal Grandeur and Royal Grace, Tranquil coming up, but the bottom line is that they are the same builder who takes customers for granted.
    There are many issues in the Royal Imperio society, due to which it does not make a favorable place to stay in.
    Beware of the builder!!! The society entrance was changed during the possession. Thats a lie. The garden area is getting replaced with some stupid small shops for their own monetary profit.
    Now coming o the main point, the roof of the Royal Imperio fell down on the A building resident's car,smashing the car completely. Thanks god, there was nobody inside the car. Ask any person in the building A and B and you will come to know about the builder quality of construction.

  37. BR may startnig to give possesion around some time. SO when is the first batch of investor is startnig to sell their flats any idea?

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