Koramangala is situated in the South Eastern part of Bangalore and planned by the Development Authority. Earlier known as Sollemangala, the area is spread across 1,800 acres and consists of eight blocks which are further divided into two blocks (1-4) and (5-8). Blocks 1–4 are separated from blocks 5–8 by the Old Airport Road leading to Domlur/Indiranagar. Once a village, Koramangala today is one of the largest neighbourhoods and a highly sought-after residential locality in Bangalore. It offers an excellent mix of luxury apartments, commercial structures and high-class bungalows.
Koramangala is well-connected to Domlur/Indiranagar in north, Madivala in south and Sarjapur in east. Many important roads pass through this locality including Intermediate Ring Road (linking the Airport Road with Hosur Road and Electronic City) and Sarjapur Road (leading to the Outer Ring Road, the IT corridor and beyond). Koramangala also houses several software companies including Wipro, Infosys, S, Siemens, Microland, Zenith Softawares, Texas Instruments, Toshiba Software, Ciber, Lucent Technologies and the Indian e-commerce firm Flipkart.
Koramangala is well-connected by Metropolitan Transport Corporation (BMTC) buses to other parts of the city. It provides smooth connectivity to major areas like Jayanagar (4.7 km), Shantinagar (4.5 km), Bannerghatta road (15 mins), JP Nagar (6.7 km), Sarjapur Road (8.2 km), Hosur road (4.6 km) , MG Road (7 km), Indiranagar (5.8 km) and Old Airport Road (7.6 km).
Schools and Colleges
A preferred residential locality in Bangalore, there are a number of good educational institutions in Koramangala. These include Reddy Jana Sangha High School, Bethany High School, Chinmaya Vidyalaya, y Business School, St Johns College & Hospital, IIPM, Indian Institute of physics, NMI and Vemana Institute of Technology.
Shopping Malls and Hospitals
There are a number of recreation hubs, shopping malls and restaurants in Koramangala. Forum Mall is the most popular mall in the area located on Hosur Road. Apart from being a shopper’s delight, the mall offers many entertainment options.
Being a famous IT hub of Bangalore and within close proximity to other major areas, Koramangala has several hotels ranging from budget hotels, boutique hotels to serviced apartments. Elite hotel, Hotel Empire International, BluPetal Hotel and Grand Mercure are some of the famous hotels located here.
Real Estate in Koramangala
Koramangala is considered a premium residential area and commands one of the highest property values in the city due to good social infrastructure and connectivity to various business districts. Some of the key projects delivered in the area are Sobha Morzaria Grandeur, Vivarea, Splendor and Esteem Royale. According to real estate data, Koramangala has seen an appreciation of approximately 37 percent in the last two years and is expected to see a similar trend in the coming years. There are 15 ongoing projects in Koramangala and 6 projects are due for possession in 2014. The average apartment price is Rs. 9,248 per sq. ft.
Property rates in Koramangala have risen by upto 12.5% in last 6 months.