361MB in size, the update can be downloaded by going to Settings << More << About device << Software update << Update on the smartphone.
According to update notification, it contains stability improvements, bug-fixes, enhanced features and performance improvements. You can also expect to see KitKat specific features like Cloud-print support, Immersive mode, camera icon on lock-screen, media-art on lock-screen and more.
This update roll-out comes just days after Samsung started rolling out Android 4.4.2 for SM-N900 in Russia, which is the same version that is sold in the Indian market.
If you have already updated your Note 3, do let us know about the experience in comments.
Image Credit: Srinath via XDA