31/07/2023
Cost of Living in Bangalore for Bachelors & Family
Bangalore is a city that offers a diverse range of industries, including IT parks and multinational company hubs. While living in these areas may incur higher expenses, many individuals prefer to reside in more affordable locations. In this blog, we’ve added a comprehensive guide to help you estimate the cost of living in Bangalore.
Cost of Living for Bachelors
If you’re a bachelor moving to Bangalore, several factors will influence your cost of living:
1. Property Rates and Rent: Renting a 1 BHK apartment in Bangalore can cost around INR 15,000 per month for a bachelor. Alternatively, sharing accommodations with roommates is a popular option to split the rent and reduce expenses.
2. Household Expenses: A bachelor should budget approximately INR 10,000 per month for household expenses. This covers the cost of domestic help, maintenance fees, and other incidentals, as well as utility costs like internet and electricity bills.
3. Transportation: For transportation, purchasing a monthly bus pass can help keep costs under INR 1,000 for regular buses or around INR 3,000 for AC buses. Bachelors also have the option of using mobile apps like Ola, Uber, Rapido, Bounce, and others for cabs, carpooling, or scooter rentals within and outside the city.
4. Lifestyle: Bangalore provides a wide range of leisure options, from inexpensive choices to opulent clubbing events. A bachelor can anticipate spending, on average, around INR 2,000 per day, depending on lifestyle choices.
Cost of Living for Families
The cost of living may be higher if your family is relocating to Bangalore. Observe the following elements:
1. Property Rates and Rent: Depending on the location and amenities, renting a 2 BHK apartment for a family in Bangalore can range from INR 16,000 to INR 35,000 per month.
2. Household Expenses: A family of four can expect to spend around INR 40,000 to INR 50,000 per month on expenses such as school fees, domestic help, groceries, and other miscellaneous costs.
3. Transportation: In Bangalore, owning a car entails additional expenses that are roughly INR 8,000 per month. However, public transportation options such as buses can provide a more affordable alternative, with costs ranging from INR 3,000 onwards.
Cost of Living for Working Couples
The cost of living for working couples can vary depending on their individual lifestyle choices and preferences. Here’s an overview:
Also Read: Whitefield or Electronic City: Where should you buy a home?
A working couple in Bangalore can expect to spend around INR 25,000 to INR 30,000 per month, including rent. Household expenses for a couple can be kept around INR 35,000 per month, including transportation, daily needs, internet bills, electricity, domestic help, and maintenance.
Things to Know Before Moving to Bangalore
Before making the move to Bangalore, whether alone or with your family, it’s important to keep a few things in mind:
1. Initial Expenses: The cost of living in Bangalore can be high, especially during the first few days while you’re figuring out your commuting options. Making a budget is a good idea if you want to keep your spending in check.
2. Renting a House: Be ready to pay a security deposit that can be between 10 and 12 months’ worth of rent when renting a home. It’s important to negotiate with the landlord and obtain rent receipts and their PAN card for tax purposes.
3. Location Selection: You can avoid traffic and save money on your daily commute by deciding to live close to your place of employment.
4. Water Supply: In certain areas, water supply can be a concern, and some societies rely on water tankers for daily needs. It’s advisable to research and confirm the availability of adequate water supply before finalizing a location.
Check out: Top Gated Communities in Bangalore
Conclusion
You can control your spending and take advantage of the high quality of life Bangalore has to offer by making wise financial decisions, picking affordable locations, and cutting back on pointless expenses. Keep in mind your particular circumstances and preferred way of life when calculating your cost of living. Bangalore is a city that continues to draw people and families looking for a better life because of its energetic atmosphere, technological advancements, and cultural diversity.
