Have you got placed in the IT-hub of India that is Bangalore? Then you must be looking for a living space and the cost of living in bangalore. If you are looking for a cost-effective staying option, then a co-living space can be the best choice. The average cost of living in Bangalore is 20,000 to 25,000 for one. This will help to manage your cost effectively because the cost of living in Bangalore is comparatively higher than other cities.
Well-known as India’s Silicon Valley or Garden City, Bangalore has become a home to various industries and has also increased the cost of living in the city like Bangalore. You should remember that the cost of living in Bangalore doesn’t just cover your monthly rent; it also has other expenses. Keep reading to explore more about this and understand whether co-living can be a good option for you or not after analysing the Bangalore cost of living.
What Do You Mean by Co-living in Bangalore?
Before one can dive deep into understanding the cost of co-living in Bangalore, let’s understand what a co-living means. In simple words, it is like a modern style rental accommodation which will be managed by the well trained staff and will be fully furnished. Based on the location, a co-living space may have twin, triple sharing or private rooms equipped with different types of modern amenities. Based on requirements, in Bangalore, you can rent a co-living space for a long or short time. Compared to other properties, one will find a co-living space flexible, affordable as well as comfortable.
Types of Rooms Available in Co-living spaces
One can find sharing rooms with triple or double occupancy, couples’ rooms, and private rooms equipped with all the modern amenities and facilities. You will find those rooms very cosy, hygienic, and properly ventilated. Every room has air conditioners, comfortable beds, balconies, washrooms, TVs and more.
Types of Amenities Offered in A co-living space
When someone chooses the best co-living space in Bangalore, they will get best-in-class services along with facilities, like 24x7 power backup, professional housekeeping services, air conditioner, high-speed Wi-Fi, refrigerator, ergonomic furniture, kitchen, homemade foods, microwaves and more. Besides, some spaces also come with lounging areas, reading corners, dining rooms, common halls, swimming pools and more.
Who Can Go for A Co-living Space?
Co-living spaces in Bangalore can be an excellent option for students, working professionals or business travellers. Based on choice, you can rent a co-living space for a short time or long-time period.
Co-living Spaces- Dynamic Demand in India
In general, the tenants who prefer to go for shared or co-living accommodations are working people with little free time. They don’t prefer to pay for spaces where they don’t spend much time. But they still want to enjoy all the facilities without dealing with rising costs and maintenance.
Working people spend around 3 hours of the entire day in the living area and kitchen. They spend around nine hours in the bedroom. Considering the rental value of a bedroom can be around 40 percent of the total value, it is crucial to have less used spaces used by multiple people, to share maintenance bills, services, and rent.
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Cost of Living in Bangalore for Bachelors
- Property Rent
- Household Expenses
- Your lifestyle
Some Major Factors which Increase the Cost of Living in Bangalore
The cost of living in Bangalore can be greatly affected by the following factors:
1. Rental Costs
People say that the house is where your heart is. But when you move to a new city, it will be difficult for you to trust the place with your heart. Well, this is a major reason why choosing a co-living space in Bangalore is smarter than opting for a space in an unknown neighbourhood. Besides, renting a space on your own will be very expensive.
By opting for co-living, you can get your close friends as your roommates and do not forget to consider the amenities. Co-living accommodation costs in this city, for a single room, you may need to pay around Rs. 7000 to Rs. 15000. For double sharing, it can vary from Rs. 6000 to Rs. 13000. For a more affordable option, you can go for a triple sharing co-living space and that may cost you around Rs. 6000 to Rs. 13000.
Rental costs of living in Bangalore:
|Single room||Rs. 8,000/- to Rs. 15,400/-|
|Double sharing||Rs. 6,000/- to Rs. 12,500/-|
|Triple sharing||Rs. 5,700/- to Rs. 12,000/-|
|Managed apartments||Rs. 15,299/- to Rs. 24,099/-|
2. Wi-Fi and Electricity
Based on the type of co-living space you opt for, you might not or might have to chip in for your power bill. Well, you should keep in mind that the average cost per unit in Bangalore can be around Rs 8 to Rs 9. To avoid any confusion or issues in the future, it is advisable to clarify the electricity rate with the owner of the place.
In terms of your monthly Wi-Fi expenses in Bangalore, it may cost you around Rs. 500 to Rs. 1500 per month. You can’ avoid these expenses in Bangalore. However, by opting for a co-living space, you can share the electricity and Wi-Fi expenses with your roommates.
Your point A will be where you are currently living. And point B is where you study or work. In this large city, it is important to understand the cost of travelling from point A to B. As per the data, the cost of a one-way ticket may cost you around Rs. 50 to Rs. 70. On the other hand, a monthly bus pass in Bangalore will cost you around Rs. 1500.
Even though this is not the cheapest city to live in, in terms of transportation, you may find it a little cheaper. However, travelling to your workplace by taxi can be a little expensive. So, while calculating the cost of living in Bangalore, don’t forget to consider your transportation cost.
4. Entertainment and Leisure
After a long hectic day, you will definitely want to unwind. A night in Bangalore with a drink, meal and movie tickets for two persons may cost you around Rs. 2000 to Rs. 2500. On the other hand, the cost of a cappuccino may cost you around Rs. 150. If you are planning to join a gym, then the average cost of the membership can be around Rs. 1500 to Rs. 2000 per month.
Entertainment costs in Bangalore:
|Meal for two (budget eatery)||Rs. 300/-|
|Meal for two (mid-level eatery)||Rs. 700/-|
|Meal for two (upscale eatery)||Rs. 1500/-|
|Gym/ Fitness Studio fee||Rs. 1600/- per month|
|Movie tickets||Rs. 350/-|
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Living Cost in Bangalore for Family
If you want to settle in Bangalore with your family, then the cost of living in Bangalore will increase. As per the experts, if your family includes a child, the total cost of staying in Bangalore can range between Rs. 30000 to Rs. 40000. You can easily find many 2BHK or 1BHK houses or apartments that you can rent.
- Household Expenses
If you consider some expenses like groceries, school fees and domestic assistance, a four-member family may need to pay around Rs. 35,000 to Rs. 40,000 per month in Bangalore.
- Consider the Transportation Cost
For a family with a car, the transportation cost will be around Rs. 6000 per month. However, if you opt for a public transport facility, then the cost may come down to Rs. 3000 or Rs. 4000.
Fewer Expenses and More Savings
As discussed above, the rent of co-living space will cover all the parts of the sustenance. By choosing a good option, you can have an amazing housing experience. With this, you will share your expenses with your roommates, lowering your overall monthly expenses. Besides, you don’t have to worry about the home administration, for example, scheduling the bills and utility expenses.
Besides, in some cases, you may not need to invest in home appliances or furniture. Furthermore, you will enjoy affordable rent along with flexible lease terms. There will be no restrictions. The best part is that you would get professional co-living hosts as well as community support.
Now you know the cost of living in Bangalore, you can decide whether you should opt for a private living or co-living space. For some, the expenses may be more, but if you look at the opportunities the city has to offer, then you will find the cost reasonable. And if you are planning to shift to Bangalore, and you are moving there for the first time, then you can choose Packers and Movers Bangalore at very reasonable prices. Go for it now.