Koramangala 3rd Block, often dubbed Billionaire Street, is Bengaluru’s most exclusive and expensive neighbourhood, attracting high-net-worth individuals from various sectors, including startup founders, C-suite executives, politicians, and real estate developers. Known for its sprawling plots, prime location, and luxurious architectural styles, it’s a hub for those seeking both status and opulence.
Earlier this year, Bengaluru saw its highest-ever property deal when Quess Corp’s MD, Ajit Isaac, bought a 10,000-square-foot plot in Koramangala 3rd Block for ₹67.5 crore. This surpassed a previous record held by TVS Motors, which paid ₹68,597 per square foot for a 9,488-square-foot plot. These transactions highlight the high demand and limited land availability in this exclusive area. According to Housing.com, the average property price in Koramangala 3rd Block reached ₹35,000 per square foot in Q3 2024, a 9.5% rise from the previous year. The area’s appeal lies not only in premium properties but also in its larger plot sizes, with many homes spanning 4,000 square feet. These properties often include expansive private amenities like gardens, pools, and energy-efficient features. Koramangala 3rd Block’s prime location adds significant value, with easy access to top educational institutions, healthcare facilities, shopping centres, and major employment hubs like Bannerghatta Road and Electronic City. Its prestigious residents further elevate the area’s reputation.
Koramangala’s 3rd Block is not only a reflection of the city’s growing real estate market but also a symbol of Bengaluru’s increasing appeal as a hub for high-end properties. A report by Knight Frank revealed that residential prices across Bengaluru saw a 10% year-on-year increase during the July-September 2024 period, the highest among India’s top eight cities. Additionally, data from Square Yards indicated that Koramangala’s average property price rose 43%, reaching ₹19,149 per square foot by September 2024, up from ₹13,355 in 2023. Alongside the rising property values, rents in the area have surged, with monthly rates now ranging from ₹48,000 to ₹1,34,400, compared to ₹49,500 to ₹90,000 the previous year. The rise in property values reflects Bengaluru’s broader real estate boom. A Knight Frank report noted a 10% year-on-year increase in residential prices, while Square Yards data showed Koramangala’s property price rose by 43% in 2024. Koramangala’s Billionaire Street remains Bengaluru’s most desirable and prestigious address, attracting those who value luxury, exclusivity, and convenience.
