Cost of Living in Bangalore – Everything You Need to Know!
An important factor that you might consider while making a move to any new city is the cost of living. Bangalore is relatively affordable to live in as it ranks as one of the most livable cities in the country. If you are planning to move to Bangalore for work or to study, an understanding of the cost of living in Bangalore would be helpful to make an informed choice. There are many reasons for people across the spectrum- students, working professionals and families- to move to Bangalore. This makes it a land of professional opportunities.
Bangalore also boasts of many renowned institutes for higher education. It has a rich cultural heritage, a happening nightlife, a lot of greenery, numerous public parks and many places of leisure such as sports centers and shopping malls. The city boasts of the highest number of startups (Around 7000!) in India. It is home to some of the best-known names in the IT sector in the country and is also booming in terms of its overall economy. To add to the list of reasons, Bangalore has splendid weather throughout the year.
Housing in Bangalore
As is true of any other metro in India, purchasing a house in Bangalore will burn a huge hole in your pocket. A 1BHK can cost anywhere between 30L-45L. On the other hand, a 2BHK can cost anywhere between 60L-1Cr. These prices are of course subject to market changes and will depend on various factors such as the age of the building, the location and property rates at any given point in time.
It is easier, faster and cheaper to rent an apartment in Bangalore or live in a co-living space like COVIE. As far as 2BHK and 3BHK apartments are concerned, they can be shared between two or three persons. Rent will be the biggest chunk of your expense as far as the cost of living in Bangalore is concerned. Choosing an apartment to rent will depend on your lifestyle and needs. Some of the best locations to rent an apartment and their respective rents are given in the table below:
Best Places to Rent
1 BHK Flat
2 BHK Flat
3 BHK Flat
Renting an apartment in Bangalore also means the additional costs of food and amenities which are not included in the above breakup. One will also have to pay a heavy deposit and a brokerage while you hunt for an apartment.
(COVIE’s Fully Furnished Co-Living Apartment at Bannerghatta Road)
Another major factor in deciding the cost of living is the monthly expenses on household provisions such as groceries and other utilities in order to live a comfortable and hassle-free lifestyle. An average household would require utilities such as electricity, water, mobile, Wi-Fi, a house-help for cooking and housekeeping.
The average cost of all these utilities for one person would be around ₹7000. The cost would be affected by factors such as a person’s lifestyle as well as the location of the apartment or a furnished room.
Here is a break-up of the cost of utilities for one person:
Cost of Utilities
Electricity (Heating and Cooling) and Water for a house
Prepaid Mobile Tariff (Local)
Wi-Fi (Unlimited Data)
Cost for cook for one person/month
Cost of maid for 1BHK Flat
As far as groceries are concerned, the monthly cost for one person can range anywhere between ₹1800 to ₹4000 depending upon factors such as type of food consumed (veg or non-veg) or whether you consume alcohol and/or smoke. Here is a break-up of the average consumption of groceries for one person in Bangalore:
Milk (Regular,1 litre)
Loaf of Fresh White Bread (500g)
Eggs (Regular, 12)
Local Cheese (1kg)
Chicken 1 kg (Boneless)
Lettuce (1 head)
Water (1.5 litre bottle)
Bottle of Wine (Mid-range)
Domestic Beer (0.5 litre Bottle)
Imported Beer (Pint)
Cigarettes (Pack of 20)
Eating Out and Nightlife
For most people living in a metro, eating out can constitute a major reason of spending. If you’re in Bangalore, you will be spoilt for choice as far as eating out is concerned. There are all kinds of restaurants and pubs depending on budget, taste and ambience. A meal at an inexpensive and local restaurant can cost between ₹150-₹400, whereas a dinner for two at a mid-range restaurant comprising of a three-course meal can cost between ₹700-₹1800.
(Chavadi Rooftop Café in Bannerghatta Road. Source – Zomato)
Some well-known restaurants in Bangalore include:
Tongba Garden Chinese Restaurant
Shanghai Court Thai
Many of these restaurants are close to the COVIE properties at Bannerghatta and Yelahanka, which means less travel time and more tasty food!
The following table gives a break-up of Cost of eating out in Bangalore:
Cost of Eating Out
Meal, Inexpensive Restaurant
Meal for 2 People, Mid-range Restaurant, Three-course
McMeal at McDonald’s (or Equivalent Combo Meal)
Domestic Beer (0.5 litre draught)
Imported Beer (0.33 litre bottle)
Coke/Pepsi (0.33 litre bottle)
Water (0.33 litre bottle)
It is not for nothing that Bangalore is known as The Pub City as well as The Beer Capital of India. It is home to close to 60 microbreweries alone! If you enjoy a drink or two over the weekend (Or the weekday as well, because why not?) then this will be an added expense to your monthly cost of living. A beer can cost anywhere between ₹80-₹500 depending on whether it is a local brand or an imported one. A mid-range wine can cost anywhere between ₹350-₹1500. The cost of food and drinks at a nightclub can cost up to ₹2000 for two people.
Travelling within Bangalore has a variety of options right from an Ola, Uber or a Bus to driving your vehicle. Naturally, the cost of travel will depend upon the type of transport you choose. However, if you’re a working professional or student and not native to Bangalore, then it is always advisable to choose a house close to your place of work or study.
Needless to say, Bangalore traffic is infamous all over the country! Travelling by metro is preferred by most working professionals and students since it is convenient, cheap and fast. There is also a contactless smart card available for regular metro travellers. You can calculate the fare rate of Metro here.
Another option for daily commuters is the local bus service. If you prefer travelling in a taxi, there is always the option of a local taxi or an OLA and UBER. Find out the top Cab Services in Bangalore.
AC Bus Pass
Non AC Bus Pass
Uber or Ola
As per local conditions
Local Taxi Fare
Starts at ₹50
There is a lot to do in Bangalore as far as shopping is concerned. There are many malls in Bangalore where many people choose to spend their weekends or post-work hours shopping or eating. Shopping for clothes and eating in a mall can cost an average of ₹3000.
The COVIE properties at Bannerghatta and Yelahanka are centrally situated and are close to most of these malls.
There are many book cafes in Bangalore such as Champaca Book Café where you can spend time browsing and reading books as well as have a coffee. The average cost for two at a Book café would be around ₹600.
Another form of entertainment for post-work hours can be to watch a movie. An average cost of movie ticket ranges between ₹150-₹300. Movie Buffs – Find out the places where you can get cheap movie tickets!
(COVIE’s Social Spaces)
However, if you choose to co-live at one of the COVIE properties, you don’t even have to step out! You can always find yourself a cup of coffee and head to the library for some quiet reading time. There are also many COVIE events where you can socialize and network without having to go anywhere!
Fitness and Leisure
If you’re a fitness enthusiast, you could join a gym or a fitness center which has an average annual membership of ₹15000. Another option for fitness enthusiasts is to play a sport like tennis at the many gymkhanas and fitness centers in Bangalore. The cost on per hour basis is around ₹200 for one person. Here is a list of some best Fitness Studios in Bangalore.
(Work out with your buddy at COVIE’s fitness center!)
Each COVIE property at Yelahanka and Bannerghatta has a fitness center. So now you can have your gym right next to your home!
Experience the COVIE way of Co-Living
A co-living space like COVIE (now in Bannerghatta and Yelahanka) provides a fully furnished home, amenities like planned, nutritious meals, 24/7 security, concierge services, High speed Wi-fi, laundry service as well as a library and a fitness center all under one roof! COVIE strives to bring like-minded individuals together in a co-living space. There are many COVIE events like burger nights or yoga workshops which are great opportunities to network and make friends!
A comparison of the cost of living in an apartment or PG with that of a co-living space like COVIE would make you realize that co-living spaces offer so much more convenience, comfort, community and luxury at a very affordable price. So, if you decide to shift to Bangalore, do visit COVIE and find out for yourself!
In conclusion, the average cost of living in Bangalore would come somewhere close to ₹20000 for one person per month. The cost of living in Bangalore might be lesser than other metros like Delhi and Mumbai but it is not very easy on the pocket. However, it is no longer necessary that to have a comfortable and leisurely lifestyle, one would need to spend more or then cut down on one’s spending on leisure. That’s where co-living should be the choice of every millennial.