TWALKITOUT: Inflation and a various local factors have made an impact on cost of living in Bangalore in 2013. Let’s go through the journey of facts and supporting figures.
Population: 96 Lakhs (grew by about 10 lakhs in 3 years). This figure does not account for the IT sector work force almost covering every street of the city.
Sex Ratio: 916 women for every 1000 men. Despite the large number of working females from outside, the local scene is totally opposite with Bangalore ranking 14 for child sex ration in the country.
Housing: Depending upon the area, the closeness to the IT hubs and city, the price of renting an apartment ranges from Rs. 7000/- per month for 1BHK to Rs. 25000/- per month for a 3BHK apartment.
Security deposit of 5-10 month rent in advance is a very common custom. And the brokers charge you an amount equal to the first month rent as their brokerage fee with almost no negotiations.
Electricity: A family of 5 consumes electricity of around Rs. 1500 per month only for lighting, heating and running appliances.
Cooking: The initial cost to setup a gas connection with security deposits, stove and first cylinder comes out to be nearly Rs. 3,500/- in the urban populace.
Water Bills: Average household in Bangalore pays around Rs. 1200 per month for drinking water alone. This figure is evaluated including the work force from outside, constituting a major chunk in urban population.
Food: Cost of a simple one time South Indian meal varies from Rs. 40 to Rs. 120, whereas the same for a north Indian basic meal booms up to Rs. 70 to Rs. 200 per head.
Alcohol: Normally alcohol is sold at MRP but to your amazement, most of the IMFL and imported liquor is priced 30-40% higher as compared to the national capital. Local taxes applicable here.
All in all cost of living in Bangalore is high making it one of the most expensive cities to live in. Major reasons cited are huge inflow of human resource from all around the country for work and livelihood as well as the increasing cost of commodities and fuel. Along with a high cost of living, Bangalore offers ample sources of income and employment opportunities to meet the ends as well.
You may feel free to put up your queries and suggestions here.
(source: internet and survey; photo credits: freedigitalphotos.net)
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