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The Karnataka Housing Board's Heritage Heights project in Kenchalagudu, Mysuru, has received a lukewarm response, with only 52 applicants for 192 flats. The project offers 160 two-BHK units at INR 49.4 lakh and 32 three-BHK units at INR 63 lakh. Due to low demand, the application deadline has been extended from April 2 to May 2. Experts cite buyer preference for individual homes or city-centre apartments as a key reason. Located on Mysuru's outskirts, the project faces challenges despite its affordability and official backing. KHB may need to re-evaluate pricing, location, and promotion strategies to improve uptake for this and future developments.
The Karnataka Housing Board's (KHB) much-awaited Heritage Heights apartment project in Kenchalagudu village, Jayapura Hobli, Mysuru district, has received a rather disappointing response from the public. Despite efforts to attract buyers through a demand survey, only 52 individuals have registered interest out of the 192 apartment units on offer. This has led the board to extend the last date for applications from 2 April to 2 May in hopes of attracting more buyers. Advertisement
Under the proposed plan, KHB aimed to construct 160 two-bedroom (2 BHK) and 32 three-bedroom (3 BHK) apartments. The provisional price for a 2 BHK flat was set at INR 49.4 lakh, while a 3 BHK was priced at INR 63 lakh. Prospective buyers were required to submit a deposit of INR 2 lakh for a 2 BHK unit and INR 3 lakh for a 3 BHK unit to be considered for allotment.
Despite the location being on the outskirts of Mysuru and the project's official backing, the demand has remained significantly low. Real estate experts have pointed out that residents in and around Mysuru continue to prefer buying individual houses or empty plots over apartment living. Apartments developed by private builders in the heart of the city are considered more appealing due to better accessibility and developer reputation. Officials from KHB have acknowledged the slow start but remain hopeful.
While the Heritage Heights project was envisioned as a quality residential initiative by the state housing board, bridging affordability with decent infrastructure, the location and public perception seem to have hindered its initial momentum. The board's decision to extend the application period reflects its continued commitment to making the project successful.
As the deadline now moves to 2 May, it remains to be seen whether additional interest will be generated. The KHB may also need to revisit its strategy and consider adjustments to pricing, location selection, and marketing if similar projects are to be launched in the future.
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