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Due to the growth of the city's service sector and the increasing number of businesses, Bangalore and Bengaluru are active real estate markets. This article will examine the cost of living and options for people who want to call Bangalore home. Many people migrate every year to India's Silicon Valley. Some estimates suggest that Bengaluru may have half its population composed of migrants. 64% are from Karnataka, while the rest come from other parts. Although there are many expenses you will have to pay, it all depends on your lifestyle and personal circumstances. We look at the main avenues people spend their money on property buying, rent, education, daycare, fuel costs, food, utilities, and travel.
Bangalore: What is the cost to buy a property in Bangalore?
Bangalore has both luxury and affordable neighborhoods. The various glances show that over 50,000 projects are for sale in the area. These properties available for sale in Bangalore start at Rs 1 lakh for small residential plots and go up to Rs 40 crores for larger, more independent homes or large land parcels.
1 BHK Flats for sale in Bangalore starts at Rs 8 lakhs. 2 BHK Flats start at Rs 10 lakhs. Current listings show that 2 BHK units can go up to Rs 13.50 Crores. You may find luxurious apartments that cost up to Rs 30 Crores.
How much does it cost for a Bangalore Property to Rent?
Although 2BHK and 3-BHK units are trendy on the rental market, smaller units like 1RK and 1BHK, as well as larger units such 4BHKs, are not uncommon. The cost of renting a property in Bangalore can vary depending on its location, configuration, size, and other amenities.
Cost of Living in Bangalore
According to Numbeo, an average one-way ticket for local transport costs Rs 50, and a monthly pass costs Rs 1,500. The average tariff for hiring a taxi is Rs 60. As of June 2020, the petrol cost is Rs 71.78 per gallon. You can reduce the cost of living here by choosing affordable travel options. Namma metro is a great way to get around the city. For commuters, the metro fare ranges from Rs 10 to Rs 60.
Living in Bangalore: Dining out
Bangalore's mid-range restaurants will charge between Rs 750 and 2,500 for two meals. For Rs 200 per head, you can get inexpensive meals at small restaurants. This gives you a great dining experience and party atmosphere throughout the year.
Bangalore's Cost of Living: Food and Groceries
For a family of two, depending on how much you consume, grocery, food, and provisions costs will range from Rs 7,000 to Rs 15,000 per month.
Living costs in Bangalore: Utilities
Electricity, water, and garbage disposal costs are all borne by households. Bangaloreans spend an average of Rs 1,000-4,500 per month on utilities. Internet and data charges can run anywhere from Rs 800 to Rs 1,500 per month for a working professional.
Average Salary of Bangaloreans
Payscale estimates that the average Bengaluru salary is Rs 6,48,000 annually, as of May 2020. India's IT capital is one of the most highly-paid cities in the country. Randstad Insights Salary Trends Report 2019 indicated that the city has the highest CTC among junior employees. This works out to Rs 5.27 lakhs. Mid-level employees make an average of Rs 16.47 lakhs. On an annual basis, senior employees earned Rs 35.45 million. Bangalore's average monthly salary is Rs 50,000-1 lakh.
You May Read Why Bangalore is Most Desirable Location For Real Estate Investment
What is the cost of a Co-Living Property in Bangalore?
If you are a student, working professional, or looking for co-living or guest accommodation in Bengaluru. These properties have rents ranging from Rs 1,000 per bedroom to Rs 36,000 per apartment. Prices will vary depending on what facilities are available, such as food and laundry, and the age and location of the property.
Cost Of Living in Bangalore for Couples
The cost of living in Bangalore for working couples is more complicated because everyone has a different lifestyle. The average price of a couple living in Bangalore is around Rs 25,000 to Rs 35,000, depending on the location of their rented property. You can easily find rental flats in Bangalore for as low as Rs 15,000 to Rs 22,000.
A couple can manage household expenses, as well as travel and lifestyle expenses, for Rs 15,000. These include costs for the Internet, electricity, and transportation. If the couple owns a car, these expenses may rise a little.
You now have a good idea of the costs associated with living in Bangalore. Some people might find living in Bangalore more expensive than others. The costs are reasonable when you consider all the city's possibilities. To live in the city, you should plan for the future and better manage your finances.
Cost Of Living in Bangalore for Family
The cost of living in Bangalore will increase if you have a family. Bangalore's cost of living could rise from around Rs 30,000 to Rs 35,000 if you have children. You can rent or buy unique apartments in Bangalore, either 1BHK or 2BHK. Also, You Must Know about Factors before Buying a House in Bangalore.
● Household expenses
A family of four will need to spend Rs 35,000 to Rs 40,000. Each month, the cost for a place such as Bangalore is calculated based on expenses like school fees, household help, and groceries.
● Transportation costs
A family of four will spend Rs 5,000 per month on transportation. Public transport might cost as low as Rs 3000, however.
You May Read Construction Cost in Bangalore
What salary is Needed to Live Comfortably in Bangalore?
A Bangalore worker typically earns 34.500 INR monthly. 8720 INR is the lowest average salary, while 154,000 is the highest average. However, the actual maximum salary can be higher.
The average monthly salary includes housing, transportation, and other benefits. Different careers have different salaries. For specific job titles, please see the table below.
The median, maximum, minimum, and range are the median, maximum, and minimum.
● Salary Range
● Salaries in Bangalore start at 8,740 INR per Month (minimum wage) and go up to 154,000 INR (maximum average, but higher).
● Median Salary
● The median monthly salary is 31,800 Indian Rupees. This means that 50% of the population earns less than 31,800, while 50% earn more than 31,800. The median is the average salary. The median is the middle salary value. You would prefer to be on the right-hand side of the graph if you are in a group that earns more than the median.
● The salary distribution diagram shows that 25% of the population earns less than 18,200 INR, while 75% earn more than 18,200. The diagram also shows that 75% of the population earns less than 85 600 INR, while 25% earn more than 85 600 INR.
Related Information Bangalore Vs Hyderabad: Which is India's Best City to live in?
About Author
Jatin Dubey
An enthusiastic content writer who is a law graduate and has been working as Real Estate Consultant for around 9 years.
He has worked with top Real Estate Agencies and Builders in Delhi, Bangalore and Pune. His skills to perform market analysis and explore high potential localities has helped many clients in the past.
An enthusiastic content writer who is a law graduate and has been working as Real Estate Consultant for around 9 years.
He has worked with top Real Estate Agencies and Builders in Delhi, Bangalore and Pune. His skills to perform market analysis and explore high potential localities has helped many clients in the past.
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