Cost of Living in Bangalore: What to Expect in 2023

Bangalore, also known as Bengaluru, is a bustling city located in the southern part of India. It has become a hub for information technology (IT) companies and is home to many global tech giants, including Infosys, Wipro, and Tata Consultancy Services. With its favourable climate, excellent infrastructure, and a highly-skilled workforce, Bangalore has emerged as a leading centre for IT innovation, research, and development.
The city has attracted a large number of professionals from across India and the world, who come here seeking employment opportunities in the IT industry. As a result, Bangalore has become a melting pot of cultures and has a cosmopolitan vibe. The city offers a vibrant lifestyle, with a diverse range of restaurants, cafes, and entertainment options. Despite the challenges posed by rapid urbanization, Bangalore continues to thrive as a dynamic and prosperous city, making it an attractive destination for both job-seekers and tourists alike.

Exploring the Cost of Living in Bangalore: Key Factors to Consider

1. Accommodation/ Rental

   The location you choose to reside in can considerably influence your living expenditures in Bangalore. While proximity to your workplace or educational institution is a sensible consideration, it is essential to factor in your personal needs and preferences.

   For those seeking an energetic ambience, localities such as Koramangala or Indiranagar offer a lively atmosphere but may come with a steep price tag. A 1 BHK apartment in these areas can cost up to ₹ 25,000 per month, while a 2 BHK may cost between ₹ 35,000 and ₹ 40,000 monthly. Those looking for more budget-friendly options can explore areas like HSR or BTM layouts, which are situated close to the central regions.

   In these locations, a 1 BHK apartment can be rented for ₹ 13,000 to ₹ 16,000 per month, and a 2 BHK for under ₹ 40,000. However, moving further away from the city centre can provide more economical alternatives, although this may entail enduring the city’s notorious traffic congestion on a daily basis.

2. Food and Groceries

   When it comes to the cost of living in Bangalore, food-delivery expenses are a significant component. Fortunately, the city provides an extensive range of takeaway options through various food-delivery apps. However, if you order two meals per day, the expenses can add up quickly, with an average daily cost of ₹ 350, resulting in a monthly expenditure of ₹ 9,000 to ₹ 10,000. To save money, it is advisable to either hire a cook or learn to cook on your own. Buying groceries like rice pulses and flour will cost you around ₹ 5,000 a month.

3. Transport

   Despite the notorious traffic in Bangalore, transportation options abound, ranging from cabs and metros to rickshaws and buses, facilitating a seamless daily commute. While the metro and the BMTC buses offer economical travel, cab services may be a more convenient alternative when pressed for time. Overall, combining modes of transportation, such as the auto rickshaws, metros and taxis, should not exceed ₹ 4,000 per month in transportation expenses.

4. Utilities

   The cost of your utility expenses is primarily dependent on your lifestyle choices. For instance, if you choose to subscribe to cable or Direct-to-Home (DTH) services, in addition to electricity and Internet connection, the expenses can quickly add up. While unlimited broadband Internet plans generally cost around ₹ 1,200, which is comparable to other cities, the cost of electricity tends to be a little higher compared to cities like Delhi and Mumbai.

   Additionally, the more electricity you consume, the higher your bill will be. While you may not need an air conditioner for the majority of the year due to the agreeable climate, the usual cost of electricity consumption is approximately ₹ 5.50 per unit, which can result in a monthly bill ranging from ₹ 1,200 to ₹ 1,500 for a 2 BHK apartment.

5. Education and Childcare

   The average cost of childcare and schooling in Bangalore can vary depending on several factors such as the type of childcare/schooling, the age of the child, and the location of the facility.

   1. Childcare

      The cost of daycare or creche services in Bangalore varies between ₹ 5,000 to ₹ 15,000 per month, depending on factors such as the location of the facility and the extent of services provided.

   2. Preschool

      The average cost of preschool in Bangalore can range from ₹ 5,000 to ₹ 20,000 per month, depending on the facilities provided and the location of the school.

   3. Primary and Secondary Schools

      The average cost of primary and secondary schools in Bangalore can range from ₹ 50,000 to ₹ 2,00,000 per year, depending on the facilities provided and the location of the school.

   4. International Schools

      The average cost of international schools in Bangalore can range from ₹ 2,00,000 to ₹ 6,00,000 per year, depending on the facilities provided and the school’s location.

   It is important to note that these are just estimates and the actual cost can vary depending on the specific facility and its location. It is always a good idea to research and compare the costs and facilities of different childcare and schooling options before making a decision.

6. Shopping

   From high-end branded showrooms to regular marketplaces, Bangalore offers a wide range of shopping options. If you’re seeking modern apparel and accessories, places like MG Road and Majestic Market are worth exploring. These locations offer almost everything you may require at affordable rates. If you do not have expensive preferences, you can meet your shopping requirements with an average monthly expenditure of ₹ 6,000. Nevertheless, if you favor buying exclusively from high-end brands at shopping malls, the cost will be significantly greater.

7. Entertainment

   The cost of entertainment in Bangalore is subjective and dependent on various factors, such as one’s interests and personal preferences. Popular entertainment activities in Bangalore offer a diverse range of price options, which may vary based on the type of activity or event. Here are some of the estimated price ranges for such activities.

   1. Movies

      The average cost of movie tickets in Bangalore can range from ₹ 200 to ₹ 1000 per person, depending on the type of theatre and the time of the day since night shows are typically more expensive.

   2. Amusement Parks

      The average cost of amusement park tickets in Bangalore can range from ₹ 500 to ₹ 2,500 per person, depending on the park and the type of rides and attractions.

   3. Concerts and Events

      The average cost of tickets for concerts and events in Bangalore can range from ₹ 500 to ₹ 5,000 per person, depending on the performer or event.

   4. Nightlife

      The average cost of nightlife activities in Bangalore can vary depending on the type of venue and your personal preferences. On average, a drink at a bar or club can cost around ₹ 300 to ₹ 2,000, and entry fees can range from ₹ 500 to ₹ 2,000.

   It is important to note that these are just estimates and the actual cost can vary depending on the specific activity or event. It is always a good idea to research and compare the costs of different entertainment options before making a decision.

FAQs

1. What is the cost of living in Bangalore for a Bachelor?

   The amount of money you need to cover your living expenses in Bangalore largely depends on how you choose to live your life. For instance, if you opt to stay as a paying guest and keep your entertainment expenses low, you can get by with a monthly budget of around ₹ 20,000. However, if you prefer a more comfortable lifestyle, you may need to spend up to ₹ 40,000 per month to cover your living expenses in Bangalore.

2. What is the Cost of Living in Bangalore for a Couple?

   The cost of living in Bangalore for a couple can vary depending on their lifestyle choices. On average, the monthly cost of living for a couple can range from ₹ 50,000 to ₹ 90,000, including rent, food, transportation, and entertainment expenses. However, the actual cost can vary based on factors such as accommodation type, location, and personal preferences.

3. Is Bangalore an expensive city to live in?

   Bangalore is ranked as the fourth most expensive city to live in India, but it’s worth noting that the cost of living can vary greatly based on individual lifestyles and needs.

4. What are the major expenses that contribute to the cost of living in Bangalore?

   Accommodation, food, transportation, healthcare, and education are the primary expenses that make up the cost of living in Bangalore.

5. How much does accommodation cost in Bangalore?

   The price of lodging in Bangalore is subject to variation based on factors such as the locality, type of accommodation, and amenities available. As a general estimate, a single-bedroom apartment situated in the city centre can cost between ₹ 20,000 to ₹ 30,000 per month.

6. How much does food cost in Bangalore?

   The price of food in Bangalore can fluctuate based on the cuisine type and the restaurant’s location. Generally, a meal at a budget-friendly restaurant can range between ₹ 150 to ₹ 200, whereas a three-course meal for two at a mid-range restaurant typically costs around ₹ 800 to ₹ 1,200.

7. How much does transportation cost in Bangalore?

   The expense of transportation in Bangalore is reliant on the mode of travel chosen. Public transportation is comparatively inexpensive, with a single journey bus ticket costing approximately between ₹ 10 to ₹ 15. Taxis and ride-sharing services, such as Ola and Uber, are also obtainable at reasonable prices.

8. How much does education cost in Bangalore?

   The cost of education in Bangalore is influenced by the chosen level of education and institution type. Typically, private schools charge between ₹ 30,000 to ₹ 1,50,000 per year.

9. What is the cost of living for a family of four in Bangalore?

   The cost of living for a family of four in Bangalore can fluctuate based on their way of life and preferences. Nevertheless, a family of four can live comfortably in Bangalore with a monthly budget averaging from ₹ 80,000 to ₹ 1,00,000.

10. What are some financing options available to people living in Bangalore to maintain their standard of living?

    Individuals residing in Bangalore who require financial assistance to maintain their lifestyle have access to several financing alternatives. Personal loans are a prevalent option since they do not require collateral and can be utilized to cover various expenses such as rent, utilities, and transportation. Credit cards are suitable for small, short-term expenditures, but they entail high-interest rates and fees. Additionally, online loans can be applied for and managed digitally, but they typically have higher interest rates and fees than conventional bank loans. It is essential to conduct thorough research and compare these alternatives, ensuring that you comprehend the terms and have a repayment strategy to identify the most suitable financing option for your needs.