Bangalore is undoubtedly a beautiful place, with mild weather throughout the year. The pleasant weather, beautiful parks, and many lakes make Bangalore unique. The lush green cover in most parts enhances Bangalore’s value as a sustainable city. The fantastic Nandi Hills and Bannerghatta National Parks are nearby tourist hotspots and perfect for weekend getaways.
Being the Silicon Valley of India, Bangalore has several IT parks and supports the startup culture. It is often referred to as the Startup Capital of India, as many startup incubators here propel early-stage startups to become big tech companies. Bangalore’s IT companies offer great job opportunities, making the city perfect for real estate investment. As a result, the demand for residential projects in Bangalore has increased. Bangalore now attracts talent and crowds from all over India as a lucrative real estate investment option.
Many factors must be considered before moving to a new city. Here are some you should take into account while considering moving to Bangalore.
Cost of Accommodation (Buying/Renting a House)
The cost of accommodation in Bangalore is similar and comparable to other metropolitan cities. Bangalore was a top performer in the Ease of Living Index 2021, a testament to its affordability. The cost of living in Bangalore in 2022 is on the same lines. Buying or renting a house is not difficult, given the rapid development and new real estate projects undertaken in the city.
Moreover, the rental cost of a 1 BHK apartment can range from Rs. 6000 to Rs. 15,000, and a rough buying estimate would be around Rs. 25 – 35 lakhs (depending on the area one selects). The rental cost for 2 and 3 BHK apartments can go up to Rs. 16,000 – Rs. 40,000, and the buying estimate would be Rs. 75 lakhs – 1 Cr. Moreover, due to the availability of affordable housing in Bangealor, property costs have gone down considerably for prospective buyers.
Daily Essentials
The monthly cost of daily essentials for bachelors can cost up to Rs. 3000 – Rs. 5000. For couples and families, it can go up to Rs 7,000 – 15,000 (depending on the number of members in a family). Hiring a cook and house helper will also cost you. However, it will sufficiently increase your efficiency and productivity. You can also use many online daily essential delivery apps for getting discounts and better deals that will cut down your expenses on groceries and cosmetics. Delivery apps like Zepto, Dunzo, and Super daily are some renowned daily essential apps in Bangalore.
Transportation Cost
Transportation costs depend on the distances you need to cover while commuting in Bangalore. Metro connectivity makes conveyance easy and cheap. One-way tickets while using local transport start at Rs. 50, and a monthly pass can cost up to Rs. 1500. If you have independent conveyance, the standard diesel and petrol rates relevant to your car’s mileage and performance will likely be a rough transportation cost estimate (depending on the fuel costs).
Entertainment & Culture
Bangalore has diverse entertainment options. You can go trekking in nearby hills and participate in adventure activities, which can cost up to Rs. 2500. If you enjoy partying and clubbing, you will find many interesting options costing up to Rs. 2000 – 5000 per outing. Furthermore, tourist attractions like Bannerghatta National Park, Bangalore Palace, Lalbagh Botanical Garden and Nandi hills are great options to have some offbeat experience away from the hustle and bustle of the city.
Utilities
Utilities depend on the requirements and living habits of a person. It can be cheap for an individual living alone, the costs of which might range to Rs. 200 – 300 for water, Rs. 200 for garbage disposal, and Rs. 1,000 –2500 for electricity if you share an accommodation. You might also incur additional charges for Wi-Fi, especially if you are an IT professional. The Broadband plans can go up to Rs. 800 – 1200 per month.
In a Nutshell
We hope this article highlights the probable living expenses you might incur to live in Bangalore. If you have the opportunity to move to Bangalore and experience the city’s culture, buying a house is ideal. You can consider different residential projects that offer luxury apartments in Bangalore.
BSCPL Infrastructure Ltd. offers great residential projects with the latest amenities. The buildings follow the construction and quality standards defined for the real estate industry in the country today. As every BSCPL project is undertaken at strategic locations across the city, the buildings are unique and ensure easy access to various parts of the town, making your purchase worth the investment and assuring profits in the future.
