Cost of living in Bangalore

[ecis2016.org] Here’s a guide for families, working professionals and students, to help them estimate the cost of living in Bangalore

Bangalore or Bengaluru is an active real estate market, thanks to its service industry and the growing number of businesses in the city. In this article, we examine the cost of living in Bangalore, for those who wish to make this city their home. Every year, many migrate to India’s Silicon Valley. According to some estimates, half of Bengaluru’s population may comprise of migrants, 64% of whom are from other parts of Karnataka and the remainder from other parts of the country. While a lot of the expenses that you have to bear, will depend on your personal circumstances and lifestyle choices, we look at some major avenues where people end up spending – property buying, rent, education, day-care, fuel expenses, food, travel, transportation, utilities, etc.

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Bangalore: How much will you pay to own a property in the city?

There are both, affordable and luxury pockets in Bengaluru and a cursory glance of ecis2016.org, suggests that there are over 50,000 projects listed for sale in the city. These properties for sale in Bengaluru range between Rs 1 lakh for residential plots to as much as Rs 40 crores for large, independent homes or land parcels.

If you are looking at flats for sale, 1BHK units start from Rs 8 lakhs, while 2BHK units start from Rs 10 lakhs and go up to Rs 13.50 crores as per current listings. Plush apartments may even go up to Rs 30 crores.

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Cost of living in Bangalore: How much does it cost to rent a property in Bangalore?

While 2BHK and 3BHK units are popular in the rental market, there is no dearth of smaller units such as 1RK, 1BHK and even larger units such as 4BHKs. Depending on the exact location, configuration and size of the property and amenities offered, cost of renting a property in Bengaluru varies from Rs 7,000 to Rs 1 lakh per month.

Cost of living in Bangalore: Cost of property buying and renting in popular localities of Bangalore

Cost of living in Bangalore: Local transportation

As per crowdsourcing website, Numbeo, on an average, a one-way ticket in a local transport costs Rs 50, while a monthly pass on an average costs Rs 1,500. The normal tariff for hiring a cab comes to Rs 60. Petrol cost, as of June 2020, is at Rs 71.78 per litre.

You can lower the cost of living in Bangalore by opting for affordable travel modes. The Namma metro provides an affordable way to travel within the city. The metro fare for commuters range between Rs 10 to Rs 60.

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Cost of living in Bangalore: Dining-out

A meal for two people in a mid-range eatery will cost you anywhere between Rs 750 and Rs 2,500 in Bengaluru. Inexpensive meals in small eateries cost about Rs 200 per person. The city is teeming with a lot of eateries, micro-breweries, hangout and leisure zones, providing a classy dine-out and party experience throughout the year.

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Cost of living in Bangalore: Food and groceries

Depending on the consumption, your expenditure on grocery, food and provisions will cost between Rs 7,000 and Rs 15,000 per month, for a family of two people.

Cost of living in Bangalore: Utilities

Households incur costs on use of electricity, water and garbage disposal. On an average, Bangaloreans spend about Rs 1,000-4,500 on these utilities. Internet and data charges will add up to anywhere between Rs 800 and Rs 1,500 for a working professional, per month.

Cost of living in Bangalore: Child-care

The cost incurred on child-care will vary, depending on the age of your child. If you are employing a part-time help or nanny, their salary ranges from Rs 7,000 to Rs 15,000 per month. A full-time help will cost anywhere between Rs 10,000 and Rs 20,000 per month, depending upon their qualification level.

For young, school-going children, day-care facilities at school, after regular school hours, amounts to Rs 5,000-10,000 per month and may differ depending on the facilities provided such as food, pick up-and-drop, etc. Cost incurred on the education of a child under 10 years of age varies from Rs 5,000-25,000 per month. International schools may charge as much as Rs 5 lakhs a year.

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Average salary of Bangaloreans

According to Payscale, the average salary in Bengaluru is Rs 6,48,000 per year, as of May 2020. India’s IT capital is amongst the highest-paying cities in the country. The Randstad Insights Salary Trends Report 2019 suggested that the city also has the highest CTC for junior employees, working out to be Rs 5.27 lakhs, while the mid-level on an average made Rs 16.47 lakhs. Senior employees took home Rs 35.45 lakhs, on an annual basis. A good salary range in Bangalore is between Rs 50,000 to Rs 1 lakh per month.

How much do co-living properties cost in Bangalore?

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If you happen to be a student or a working professional, looking for co-living or paying guest accommodations in Bengaluru, click here to see a range of options available. Rents for these properties range between Rs 1,000 per bed to Rs 36,000 per room per flat. Prices vary, depending on the facilities offered, such as food, laundry, maintenance and housekeeping, as well as the location and age of the property.

What works well for Bangalore?

Job market in Bangalore

There are over 67,000 registered companies in Bengaluru with 12,000 working on a full-time basis, the highest in India.

Night-life in Bangalore

A number of pubs and hangout zones attract the cosmopolitan crowd of the city. Prominent locations include Indiranagar, MG Road and Koramangala.

Quality of life in Bangalore

According to Numbeo, the quality of life in Bengaluru is 114.78. It indicates an overall quality of life taking into consideration several factors as listed below. In the table below, green stands for good, yellow for average/scope for improvement and red for poor. In terms of quality of life, the top five cities include Canberra, Adelaide, Raleigh, Wellington and Zurich. In India, Mangalore is 90th on the list.

Access to the Metro network and a well-developed social infrastructure also defines the quality of lifestyle for the citizens in Bengaluru. These are some of these aspects, including average salary and transportation cost, one must consider when calculating the overall cost of living in Bangalore.

Source: Numbeo

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FAQs

(With inputs from Sneha Sharon Mammen)

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle