Cost of Living in Pune: How Much Money Do You Need to Live Comfortably?

Pune, a city located in the western state of Maharashtra, has become one of India’s most prominent IT hubs in recent years. With the rise of the software industry, Pune has emerged as a destination of choice for IT companies looking to set up operations in India. The city’s favourable business environment, skilled workforce, and growing infrastructure have all contributed to its success as an IT hub.

Pune’s IT sector has experienced significant growth over the past decade, with several global companies such as IBM, Accenture, and Capgemini establishing their presence in the city. The city’s strong education system, including renowned universities and technical institutes, has produced a large pool of skilled professionals who are in high demand in the IT industry. Additionally, the city’s location near Mumbai, India’s financial capital, has made it an attractive destination for companies looking to establish a presence in both cities. As Pune’s IT sector continues to grow, the city is poised to become an even more important player in India’s software industry.

What are the Factors that Determine the Cost of Living in Pune?

1. Accommodation Costs

   Finding a suitable rental home is one of the biggest expenses when relocating to a new city like Pune. Pune gives you a variety of options to choose from depending on your budget, including homes that can cost up to ₹ 10 lakh per month. However, for a decent 2BHK unit, you can expect to pay an average of ₹ 17,000-25,000 per month. It’s important to keep in mind that factors such as location, accessibility, amenities, and local services can impact the rental price. Additionally, you will also need to reserve a security deposit.

2. Food and Groceries

   In Pune, you have multiple options to manage your food expenses. Ordering food from restaurants every day can cost you around ₹ 6,000 per month, whereas you can opt for the ‘Dabbawalas’ food delivery service for a monthly cost of ₹ 4,000. You can also choose to cook at home or hire a maid and a cook, which will cost you around ₹ 3,000 to ₹ 5,000 per month.

3. Transport

   Transportation can be a concern for daily commuters in Pune. While a monthly bus pass can be purchased for ₹ 580 to ₹ 1,500, the buses do not cover certain areas, leading many people to rely on cars for their daily commute. This, in turn, results in traffic congestion on the roads.

   Taxis and rickshaws are also popular modes of transportation in Pune, costing around ₹ 2,500 per month if used regularly. However, there is good news as the construction of the Pune Metro railway system is rapidly progressing, which will provide a new and efficient transportation option for commuters once operational.

   While transportation can be an added expense, it’s important to consider these costs when planning your monthly budget. By exploring different transportation options, you can find the most cost-effective and convenient way to travel around the city.

4. Utilities

   Pune is a city with plenty of greenery, which helps keep the temperature down throughout the year. As a result, you may not need to use air conditioning except for a few days during the summer months. This means that the electricity costs in Pune are lower compared to cities like Mumbai, with monthly bills ranging between ₹ 1,000 and ₹ 1,500 for a 1 BHK and up to ₹ 2,000 for a 2 BHK.

   In terms of internet services, you can enjoy unlimited internet for ₹ 1,000 to ₹ 1,200 per month, making it an affordable option for those who require a reliable and speedy connection. By keeping these costs in mind, you can plan your monthly expenses and ensure that you stay within your budget while enjoying all that Pune has to offer.

5. Education and Childcare

   The cost of education for parents in Pune varies based on the type of school and the quality of education they prefer for their children. The average monthly fee for a preschool can cost around ₹ 2,500, while reputed institutions may charge up to ₹ 8,500 per month. The city also has numerous international schools with yearly fees ranging from ₹ 60,000 to ₹ 2 lahk, depending on the facilities and education provided.

6. Shopping

   Pune offers affordable shopping options, where you can purchase basic clothes for around ₹ 2000 and quality jeans for around ₹ 3000. Popular chain stores like Zara and H&M offer a range of stylish clothing options for the same price range. However, premium brands like Nike still remain relatively expensive, costing around ₹ 4000.

7. Entertainment

   Pune offers plenty of options for entertainment, including weekend trips to nearby tourist destinations like Lonavala, Lavasa, Lohagad Fort, and Mahabaleshwar. The costs for such trips are generally reasonable and depend on factors like car rental, fuel, and food expenses.

   In addition to outdoor activities, you can also enjoy indoor entertainment options like watching a movie in a multiplex. The cost of a movie ticket, along with snacks, can be around ₹ 500 per person. Pune also has a variety of fancy restaurants and theatres for you to explore, offering different experiences at different price points.

   Whether you prefer outdoor or indoor activities, there are many options available in Pune to suit your interests and budget. Plan ahead and factor in the costs when deciding on your entertainment options.

FAQs

1. Is Pune expensive to live In?

   With an average monthly salary of ₹ 50,000, Pune is considered to be an affordable city to live in.

2. Is life in Pune better than in Mumbai?

   In comparison to Mumbai, Pune boasts a cleaner and greener environment, with ample open spaces and a more favourable climate.

3. What is the cost of living in Pune vs Hyderabad?

   When it comes to the cost of living, Pune and Hyderabad have their differences. Various factors like housing, food, transportation, and entertainment come into play. On average, Hyderabad is a more affordable option than Pune. For instance, renting a 1-bedroom apartment in Hyderabad can cost around ₹ 5,000-15,000 per month, whereas in Pune, the cost ranges between ₹ 7,000-17,000 per month. Additionally, mid-range restaurants, taxi fares, and entertainment options are relatively cheaper in Hyderabad compared to Pune. So if you’re looking for a budget-friendly city, Hyderabad might be the way to go.

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

   For individuals in Pune who require financial assistance to maintain their lifestyle, there are several financing options to choose from. Personal loans are a common choice as they do not require collateral and can be utilized for various expenses such as rent, utilities, and transportation. Credit cards can be used for short-term expenses, but their high-interest rates and fees make them less desirable.

   Another option is online loans, which can be conveniently applied for and managed online. However, they generally come with higher interest rates and fees compared to traditional bank loans. Prior to selecting a financing option, it’s essential to conduct thorough research and compare the available alternatives, ensuring you fully understand the terms and have a solid repayment plan in place. This will enable you to choose the most suitable financing option for your requirements.