Overview of Koramangala 3rd Block, Bangalore

Location and Connectivity

Koramangala 3rd Block is in the south-eastern part of Bangalore, famed for its prime location. It's close to significant employment hubs such as Bannerghatta Road (6 km away), Bellandur (7 km), Sarjapur-Marathahalli (6.5 km), and Electronic City (13 km).

Real Estate Value and Pricing

This locality stands out as one of the most expensive and desirable areas in Bangalore. As of the third quarter of 2024, the average property price in Koramangala 3rd Block has surged to around ₹35,000 per square foot, up from ₹32,000 in the same period last year. Some noteworthy transactions include a 10,000-square foot plot sold for ₹67.5 crore and a 9,488-square foot plot sold at ₹68,597 per square foot.

Types of Properties Available

• Residential Plots: Big plots, including 2,400 sqft, 9,600 sqft, and 11,000+ sqft, are sold for both residential and semi-commercial purposes.
• Apartments: Large 2 BHK and expansive 3 BHK, 4 BHK, and 5 BHK apartments are available in various housing societies. They often feature private gardens, pools, gymnasiums, and energy-efficient features like solar power along with rainwater harvesting systems.
• Bungalows and Villas: This area includes heritage villas and modern homes designed by globally recognized architects, often with antiques and modern art.

Amenities and Infrastructure

• Educational Institutions: It's near several top-notch educational institutions.
• Healthcare Facilities: Hospitals and clinics are conveniently located near the 3rd Block.
• Malls and Commercial Spaces: This area is close to major shopping malls and commercial hubs, including Forum Mall.
• Civic Amenities: Excellent civic amenities, including schools, bus stops, parks, and other essential services, are readily available.

Safety and Security

Koramangala 3rd Block is known for its high safety standards. The property here often includes 24x7 security services, gated entrances, and additional security measures ensuring a secure living environment.

Rental Market

Renters will find several options, such as fully furnished and semi-furnished apartments. For instance, a 2 BHK flat rents out for about ₹53,000 per month plus maintenance, with a deposit of ₹2.65 lakhs.

PropertyWala's Conclusion

Koramangala 3rd Block in Bangalore stands as an elite and highly sought-after location. It blends luxury, convenience, and prime location, making it perfect for investors, residents, or those looking to rent. The area's high property values, excellent connectivity, and top-notch amenities make it a coveted choice for affluent buyers and renters. Despite its premium status, it still comes with a high price tag, mainly accessible to those with significant financial resources.