Spread over an area of 1800 acres Koramangala was an inhabitable village filled with musquitoes during the 1980s and 1990s. But now it has been transformed into a real estate destination in Bengaluru and has developed into a new CBD (Central Business District) with koramangala at the heart of retail trade and luxury residential real estate in the city. The locality also has good physical and social infrastructure like schools, hospitals, hotels and malls. It also has a metro station in 5 km distance at Jayanagar.
There are numerous luxury homes and multi storey buildings in Koramangala. Despite the prevailing rates, there is still a huge demand for residential housing as IT professionals are precipitating vasts amounts of money to own a property or rent a property by getting in touch with top home management companies in Koramangala. The current rate for properties here is in the range of 6500 to 10500 per sq.feet. According to property management consultants in Bangalore, realty market is dominated by residential properties by 41% and a 2 or a 3 BHK apartment can fetch you a rent of up to Rs. 25-55000.