Koramangala is Bangalore’s Prime Real Estate Hub: How?
Koramangala is a popular and posh locality in Bangalore where contemporary living meets excellent social infrastructure. This is surely a vibrant neighborhood that offers exciting residential options for living. In the hi-tech Bangalore city, Koramangala is a locality that has risen and acquired a good position due to its proximity to major IT companies and parks. The central location and excellent connectivity make the Koramangala area a perfect locality for investors who value a timeless and want a lucrative investment.
Koramangala is in which part of Bangalore? For those who don’t know, Koramangala is a much sought-after destination where one can find several residential options that cater to every lifestyle and budget. Real estate prices in Bangalore, Koramangala are directly proportional to population growth, employment, and social infrastructure so the prices are high.
If you’re planning to invest in a home in Koramangala, you must know about these pointers. You should keep these pointers in priority:
Why is Koramangala a top locality for real estate investment?
Any property’s location is important which makes it an attractive real estate destination. The same thing is happening with the Koramangala locality in Bangalore.
Where is Koramangala? Koramangala is located in the southeast location in Bangalore making it a popular option for professionals. The residents of Koramangala live in a posh neighborhood that is near important commercial zones in South Bangalore.
Now, we will read why Koramangala is known as the real estate destination for many investors.
1. Center location in Bangalore
Koramangala is a good destination for real estate because of its prime location. Within 15 km, Koramangala is connected to several IT Parks. Major IT parks in Bellandur, Electronic City, and Whitefield are close to its proximity.
So, this allows the residents and working professionals to reach Hosur Road and ORR with ease from Koramangala. Also, its access to the BTM Layout metro station on the Namma Metro Yellow line makes it easy for people to commute every day.
2. Close to important facilities and social infrastructure
With its advanced social infrastructure, Koramangala is one of Bangalore’s best neighborhoods. The neighborhood offers several amenities to its residents such as well-known shopping stores, malls, community facilities, and clean & broad streets. It continues to attract a wide spectrum of investors and home buyers.
In recent times, Koramangala has transformed into a corporate hub because of the availability of multiple corporate and IT offices. There are offices of global corporations such as Wipro, Accenture, Oracle, and SAP. This locality also houses a lot of parks and community centers. Within a few kilometers, you will get all the amenities and facilities that will help to make everyday work easier.
Also, there are so many places to go in Koramangala such as malls, parks, cafes, bakeries, restaurants, and fitness centers. So, a resident can enjoy all these places when they invest in Koramangala.
Real Estate Market Trends In Koramangala
The real estate market trends in Koramangala say that it is profitable for both buying and selling properties. The average Koramangala house for sale is Rs 14,250 per sq ft. The increased real estate pricing indicates a high demand for residential as well as commercial spaces.
In this locality, 2 BHK flats are highly-demanded among small families, working professionals, and couples. Also, Koramangala is witnessing a high demand for home rentals as it is a hub for corporate and IT offices.
Let’s get an insight into monthly rents of 1, 2, and 3 BHK flats in Koramangala, Bangalore:
| 1 BHK for rent | Rs 14,000 – Rs 30,000
|
| 2 BHK monthly rent | Rs 15,000 – Rs 58,500 |
| 3 BHK per month | Rs 64,000 – Rs 81,800 |
What are the property types available in Koramangala, Bangalore?
People are making investments in and around Koramangala. This has led to the development of numerous high-end projects in the Koramangala residential area. Potential home buyers looking for a home in this area have various societies and apartments. All these residential options have amenities like a clubhouse, open green spaces, a swimming pool, etc. for the residents.
Whether you want to buy a commercial or residential space, you will find numerous options. You will also get a wide range of luxurious properties such as independent homes and villas in Koramangala.
Residential properties in Koramangala
The need for housing options has increased as a result of more people relocating to this locality in search of better job opportunities. Thus, it is also easy to find a rental house or house for sale in Koramangala.
Here is a price range for apartments in the Koramangala locality for homebuyers:
| 1 BHK for sale | Rs 60 lakh – Rs 1.8 crore |
| 2 BHK for sale | Rs 1.2 crore – Rs 3.89 crore |
| 3 BHK for sale | Rs 3.68 crore – Rs 7.86 crore |
Villa properties in Koramangala
Koramangala has several posh and luxurious villas and independent houses that reflect modern amenities and a high standard of living. Those who want privacy and luxury prefer investing in villas in this area.
There are several options for villas and independent houses for those who want more space and privacy. The average price range of villas in Koramangala ranges between Rs. 1.53 Crore and Rs. 3.50 Cr.
Commercial properties in Koramangala
The year 2024 is witnessing a huge growth in the sale of commercial properties. IT and manufacturing sectors have increased commercial leasing activity. As per the real estate market experts, these sectors have occupied almost 30% of leasing. Thus, the office space demand is high and is also a lucrative option for investment.
Tips to follow while buying or renting in Koramangala
Investing in real estate in Koramangala is a huge decision as it involves your hard-earned money. So, here are a few buying decisions for properties in Koramangala that you need to know:
Location and surrounding area
Koramangala is a popular destination in Bangalore that attracts investors due to its large corporations and IT parks. In addition to this, the surrounding locality has plenty of wide streets, open spaces, and parks. As this area is connected to Hosur Road and the ORR, it has excellent access to another part of the city.
Cost of real estate
Koramangala has several housing alternatives for home buyers that range from luxurious villas to affordable. So, it is necessary for you to get an insight into the investment for a longer time.
Legal documentation and considerations
Buying real estate in localities like Koramangala requires legal review. Before investing in any property, you must check all legal documentation of the building approval plan, title deed, and occupancy certificates.
Conclusion
Koramangala area attracts home buyers because of its prime location and connectivity to major parts of the city. An investor can invest in posh apartment complexes, luxurious villas, and office spaces. The pricing trends of real estate and rising demand make this locality a good investment.
