Here’s why Koramangala is one of Bengaluru’s priciest addresses and the wealth behind it

Koramangala 3rd Block in Bengaluru, famously dubbed "Billionaire Street," has become one of the city's most expensive residential area, known for its wealthy residents, sprawling plot sizes, and skyrocketing property values. Home to some of India's wealthiest entrepreneurs, executives, and prominent figures, this neighborhood epitomizes luxury real estate in South-East Bengaluru.

Also read: Bengaluru braces for colder winter amid changing weather patterns

According to reports, the area's appeal was recently highlighted by Quess Corp MD Ajit Isaac’s purchase of a 10,000-square-foot plot for ₹67.5 crore, setting a new record. Previously, TVS Motors made headlines with a plot purchase at ₹68,597 per square foot, marking another milestone in Koramangala’s premium property market. Experts attribute the high price tags to both the neighborhood’s exclusivity and a supply crunch in prime real estate.

Housing.com data shows a notable rise in property values, with Koramangala’s average price reaching ₹35,000 per square foot in 2024’s third quarter, a 9.5% increase from the prior year. Among Koramangala’s six blocks, the 3rd Block commands the highest prices, with large bungalows averaging 4,000 square feet. Brokers note that the wealth of its residents—such as Flipkart co-founder Sachin Bansal and Infosys co-founder Nandan Nilekani—adds to its allure.

The neighborhood’s prime location, close to major IT hubs and top amenities, further drives demand. With luxury architecture ranging from heritage villas to contemporary designs, Koramangala 3rd Block remains an exclusive, aspirational address amid Bengaluru’s booming real estate market.