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.

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 Housing.com, 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.

Know about: Cost of staying in 2bhk flat in Bangalore

See also: Mumbai’s cost of living

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.

See also about: Mumbai vs Bangalore cost of living

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.

The Bangalore Metropolitan Transport Corporation (BMTC) provides bus services across the city. However, the buses are crowded during peak hours. Bachelors and many working professionals prefer services like Ola, Uber, and others for cabs and carpooling for commuting within and outside the city.

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.

See also: Bangalore metro map, routes, stations and latest updates

See also: All about guidance value Bangalore

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.

See also: All about Mumbai posh areas

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.

Also read all about Karnataka housing scheme for BPL families

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?

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.

Info. regarding: Independent house for sale in Bangalore

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.

Know about: Room rent in Bangalore

Source: Numbeo

See also: Posh areas in Bangalore

Cost of living in Bangalore for bachelors

Bachelors in Bangalore will find plenty of affordable properties to rent. You will get a 1BHK apartment for a monthly rent of Rs 15,000. You must consider the total household expenses of Rs 10,000 towards utilities, house help, maintenance charges, and other expenses. Additional costs of Rs 3,000 for transportation and Rs 2,000 must be taken into account when calculating the living costs in Bangalore.

Cost of living in Bangalore for families

If you are residing in Bangalore with your family, including children, the monthly cost of may be up to Rs 45,000. Families can opt for 1BHK or 2BHK apartments in Bangalore, which are available for rent or purchase. The monthly rent for a 2BHK unit may range from Rs 16,000 to Rs 35,000 per month. The overall household expenses for a family of four members can go to Rs 50,000 per month, including costs like schools fees, house help, etc. Those owing a car may have to consider an additional cost of around Rs 8,000 per month. If you rely on public transport, the cost will be reduced to Rs 3,000.

Cost of living in Bangalore for couples

The cost of living for couples may vary depending on their lifestyle choices and location. Working couples may have to spend about Rs 30,000 to Rs 35,000 per month on an average for their overall expenses, including rent. One can consider affordable localities in Bangalore with monthly rent ranging from Rs 15,000 to Rs 20,000. If the couple owns a vehicle, the additional costs must be taken into account when calculating living costs in the city.

Cost of living in Bangalore: Factors to consider

If you are living in Bangalore, then there are certain factors to consider when calculating the living cost in the city. These include:

• Whether you have purchased or rented a property
• Your job or profession
• Financial status of your family
• Your family’s size
• Lifestyle options
• Day care for families with kids
• Household expenses, including the costs of education, transportation, food, cooking gas, utility bills, etc.

FAQs

(With inputs from Sneha Sharon Mammen)