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Cost of living in Chennai - Guide for Students, Couples & Family

Cost of living in Chennai

The Detroit of India is home to approximately 1/3rd of India’s automobile industry, and no wonder you will find a flourishing ex-pat community living in Chennai for obvious reasons. From white-sand beaches to lip-smacking delicacies, Chennai is one city where you will find beautiful temples, museums, and churches. From taking a walk at the Marina Beach to exploring Covelong, Besant Nagar, and much more, Chennai offers oodles of space for leisure and an equal amount of opportunities to those who come to the city for their livelihood. So if you want to settle in Chennai, go through this article which will give you an insight into the cost of living in the city.

What are the factors influencing the cost of living in Chennai?

  • Accommodation: The cost of accommodation will vary on numerous factors, which are
  1. The kind of accommodation you want
  2. The locality where you want to live
  3. Independent house or an apartment
  4. Number of family members
  5. Kind of facilities you are looking for

If you are a bachelor, you can stay in a PG (Paying Guest) or you can opt for co-living as well.  You can look for such accommodations near your office so that you save on the transportation expenses every month. An additional advantage of PG is that meals, Wi-Fi, utility expense are included in the rental amount. You can find a good PG somewhere between Rs 5000-Rs 8000. If you opt for shared accommodation with someone, it will be another Rs 2000 per month. You can find apartments for rent as well. 1 BHK is available in the bracket of Rs 8000-Rs 12000 per month. The rent of 2 BHK apartments is between Rs 9000-Rs 23000, and that of 3 BHK is Rs 19000-Rs34000. The rent varies depending on the area and the amenities you want. Average property prices in Chennai are Rs 6116 per sq ft and thus, the price of a 3 BHK in a posh area will be anything between Rs 1.5 crores- Rs 3 crores, and that in an average locality will be Rs 80 lakhs. 2 BHK flat in an average society can be brought for Rs 50lakhs-Rs 55 lakhs and 1 BHK can be purchased for Rs 40 lakhs.

  • Transport: Using public transport will be any day cheaper than using your vehicle. Secondly, if you live near your office, you can save approximately Rs 5000-Rs 6000 every month, otherwise the fuel expense you will have to incur. You can buy the monthly pass for Rs 1000 and travel via local transport service.
  • Groceries: This depends on the number of members in your family and the kind of lifestyle you are leading. There is no upper cap in this segment because bananas and oranges can never be compared. However, roughly Rs 5000- Rs 8000 will be the grocery expense for a family of four.
  • Childcare expenses: If you send your child to a CBSE affiliated school, the cost will be far less than sending your child to any international school. While the best pre-school will charge you Rs 1,04,000  per year, the cost will be somewhere between Rs 2500- Rs 6000 per month in an ordinary school.
  • Utilities: Expenses for electricity, garbage picker, Wi-Fi will round off to Rs 3000 per month.
  • Entertainment and leisure: Going out for dinner at an average restaurant will cost Rs 650 per person. Hitting the gym will be Rs 1300 per month, and a game of tennis on weekends will be Rs 450/ hour.

Have a good time exploring the beautiful city and plan for finances well for sustainability.

Addressofchoice
https://www.addressofchoice.com/

Address Of Choice is an online real estate consulting firm, who workes in across India. AOC deals in residential and commercial properties.