One of the most essential things that you should consider while planning to repatriate to India is the cost of living in different cities. Due to India’s incredible diversity, the cost of living is extremely dependent on where you are planning to settle down. The price of everything from accommodation to health care to travel and lifestyle overall can be a function of the cost of living you can afford or are prepared to attain. In this manual, we’re going to consider the cost of living in five of India’s largest cities so that you can make an informed choice for your return.
Mumbai: The Financial Capital
Mumbai is the financial hub of India and is famous for its hectic lifestyle, but with an extremely high cost of living.
- Housing: Real estate in Mumbai is among the most expensive in India. Rent for a 2BHK apartment in upscale locations like South Mumbai can go as high as ₹1.5 lakh per year. Suburbs like Navi Mumbai or Thane, however, offer more affordable options, ranging from ₹40,000 to ₹70,000.
- Healthcare and Education: Delhi is endowed with quality hospitals and schools, but the price is quite steep compared to other metropolitan cities.
- Overall Cost: Delhi is one of the most expensive cities to live in due to the high real estate values, combined with expensive healthcare and lifestyle expenses.
Delhi: The Political Capital
Delhi, as the capital city of India, offers a lower cost of living when compared to Mumbai, with a more diversified housing sector and less expensive lifestyle choices.
- Housing: Delhi rentals vary very much depending upon the area. While South Delhi, which is a premium location, can offer up to ₹1 lakh per month for a 2BHK flat, areas like Dwarka or Rohini give rentals between ₹30,000 and ₹50,000.
- Transportation: Delhi has an efficient and cheap metro system that reduces the dependence on personal transportation, thus rendering living expenses quite affordable.
- Lifestyle: Delhi offers ample shopping, dining, and entertainment options for both affordable and luxury-seeking residents.
Bangalore: The IT Hub
Bangalore is a favorite among repeat NRIs, especially those working in the IT industry. The city offers a combination of modern amenities and a relatively moderate cost of living.
- Housing prices: The rent in Bangalore is lower than in Mumbai and Delhi. A 2BHK flat in locations such as Whitefield or Koramangala can be priced between ₹40,000 to ₹80,000.
- Weather: What makes Bangalore’s selling point so special is its nice weather all year round, which welcomes retirees and freshers and professionals alike.
- Cost of Living: Bangalore’s overall cost of living, including healthcare, education, and transportation, is low and hence appropriate for NRIs seeking a balanced life.
Chennai: The Cultural Hub
Chennai is unique with rich culture, good medical centers, and relatively inexpensive living, especially for returning NRIs.
- Housing: Rental rates in Chennai are much lower than in Mumbai or Delhi. A 2BHK flat in central locations such as Anna Nagar or Adyar would cost between ₹30,000 and ₹60,000 a month.
- Healthcare and Education: Chennai is famous for medical tourism, with low-cost healthcare facilities and world-class hospitals. Schools in Chennai provide quality education at comparatively lower costs than other metros.
- Lifestyle: Chennai is more traditional compared to Mumbai or Delhi but is less expensive with a focus on culture and society.
Hyderabad: The Emerging Tech City
Hyderabad has developed into a commercial and technology hub with a reduced cost of living compared to other metropolis cities.
- Housing: Hyderabad is the most cost-effective metro city in India. A 2BHK apartment in areas like Gachibowli or Banjara Hills can be anywhere between ₹30,000 and ₹50,000.
- Cost of Living: With affordable transportation and food, Hyderabad offers a good standard of living at half the cost of other cities.
Conclusion
Choosing the right city to reside in after your return to India is also crucial in managing your retirement and financial planning. Mumbai and Delhi offer high-end living but come at a high cost, while Bangalore, Chennai, and Hyderabad offer low-end living with high quality of life. Pitting housing, health care, and lifestyle costs against each other will help you choose the best fit for yourself.
FAQs
- Which is the most expensive city for NRIs to live in India?
Ans- Mumbai is the most expensive city in India due to its high real estate and lifestyle. - Is Bangalore an ideal option for return NRIs?
Ans- Yes, Bangalore offers a well-balanced lifestyle with moderate living costs, especially for IT professionals. - How cheap is Chennai housing?
Ans- Chennai has more reasonably priced housing, with rents being much lower than in Mumbai or Delhi. - What are Hyderabad’s healthcare expenses?
Ans- Hyderabad has relatively cheap healthcare facilities, which make it a favorable city for NRIs. - Is Delhi affordable when it comes to transportation?
Ans- Yes, Delhi has a good metro system that is affordable and helps cut down on the use of costly private transport. - How do education expenses differ in Indian cities?
Ans- Education charges are higher in Mumbai and Delhi, while Chennai and Hyderabad are relatively cheap. - Is a Mumbai suburban area less expensive to live in?
Ans- Yes, suburbs like Thane and Navi Mumbai have less expensive living conditions than South Mumbai. - What is the best city for weather for retirees?
Ans- Bangalore has favorable weather throughout the year and is a great choice for retirees. - How much more expensive is living in Hyderabad than in Mumbai?
Ans- The cost of living in Hyderabad is much less compared to Mumbai and is a very affordable option for NRIs. - What should be the parameters considered by NRIs while choosing a city for retirement?
Ans- The parameters considered by NRIs for choosing a city for retirement should include housing, healthcare, commute, and cost of living.
Disclaimer: The information provided here is for educational and informational purposes only and should not be construed as financial, legal, or tax advice. Consult with a qualified professional before making any investment decisions. We do not accept any liability for errors or omissions in this information nor any direct, indirect, or consequential losses arising from its use.
