Koramangala 3rd Block: The Billionaire Street of Bengaluru's Elite

In a bid to attract the crème de la crème of Bengaluru, Koramangala 3rd Block has emerged as one of the city's most prestigious addresses, earning itself the nickname 'Billionaire Street.' This exclusive neighbourhood in Southeast Bengaluru is home to high-profile residents, including startup founders, CEOs, politicians, and real estate magnates.

A record-breaking property deal took place here recently when Quess Corp MD Ajit Isaac acquired a 10,000-square-foot plot for ₹67.5 crore, setting a new benchmark in the area. The sale price of Rs. 6,758 per square foot eclipsed the previous record held by TVS Motors, which bought a 1,000 sqft property for Rs. 68,597 earlier.

According to market experts, Koramangala's real estate prices are less influenced by Bengaluru's broader market trends due to high demand and scarce supply in this prime locality. Market Dynamics and Pricing Trends Data from Housing.com show an upward trend in the neighbourhood's property values, with prices rising approximately 9.5 per cent in the third quarter of 2024 to Rs. 35,000 per square foot.

The area leads with its larger plots often spreading over 4,000 square feet, attracting billionaires and business giants. Proximity to major employment centres like Bannerghatta Road, Bellandur, and Electronic City, along with top-rated schools, shopping centres, and healthcare facilities, enhance the allure among Bengaluru's elite.

Notorious for being a hotspot for luxury residences, Koramangala 3rd Block boasts notable residents including Flipkart co-founder Sachin Bansal, Infosys co-founders Nandan Nilekani and Kris Gopalakrishnan, and Narayana Health’s Dr Devi Shetty. The neighbourhood's architecture ranges from heritage villas to sleek modern homes, designed by acclaimed architects.

Properties in Koramangala 3rd Block often feature luxury amenities including private gardens, pools, and gyms, along with sustainable features like solar panels and rainwater harvesting. For its residents, the area signifies more than wealth—it's a marker of social status and success. A local broker observed, "It's more than a residence; it's a status symbol."