Defence Colony was originally a settlement of defence veterans started in the 1970s. The government allotted land to high ranking retired defence officers here. It was a sparse collection of Large Bungalows. At the time Indiranagar was a suburb, far outside Bangalore city. The Information Technology boom in the 1990s led to the rapid development of the neighbourhood, transforming Indiranagar into an upscale area. With increasing commercialisation of the surrounding areas, demand to live in this neighbourhood grew. As a result, property prices in Defence Colony rose over the years. Many of the owners sold their property to builders who put up apartments or developed it into apartments themselves. Today Defence Colony is largely made up of apartments. 