Settling down in India | What is the typical cost of living?

[ajayden]

Hey friends,

After so many years...have made the decision to settle down in scenic India with the beautiful and vibrant atmosphere. As I have never lived in India, I am clueless about the cost of living. Also I am not sure how much I need to have in my bank to get a decent interest (I hear the rate of interest in India is high).
How much will I need in terms of housing, car etc?

Some valuable advise will be appreciated.

 

[scavira]

It depends a lot on the city that you choose to live in.
I can give you a general very very vague idea.
For a tier1 city like Mumbai, Kolkata,Chennai, if you don't live in the center of the city but about 45 minutes to 1 hour or more from the posh areas, and you have about 25000 to 30000 per month, you can live a middle class life without much luxuries, along with a family of 3.

Real estate prices really depend on the area that you choose. It can vary anywhere between several lakhs per square feet! to 500₹ per sq feet depending on where you choose to live.


If you have a current account, the interest rate in SBI is about 4%. For fixed deposits etc, you get between 8% and 10.5% based on my limited knowledge.

And if you have never been to India, it would be a better idea to visit the different cities of India for a brief period. Each place has a different vibe, culture etc.

As you have not have given any detail on your question and you have not defined what you mean by "decent" interest, it is almost impossible to answer this question.

Posted via the Windows Central App for Android

 

[ajayden]

It depends a lot on the city that you choose to live in.
I can give you a general very very vague idea.
For a tier1 city like Mumbai, Kolkata,Chennai, if you don't live in the center of the city but about 45 minutes to 1 hour or more from the posh areas, and you have about 25000 to 30000 per month, you can live a middle class life without much luxuries, along with a family of 3.

Real estate prices really depend on the area that you choose. It can vary anywhere between several lakhs per square feet! to 500₹ per sq feet depending on where you choose to live.


If you have a current account, the interest rate in SBI is about 4%. For fixed deposits etc, you get between 8% and 10.5% based on my limited knowledge.

And if you have never been to India, it would be a better idea to visit the different cities of India for a brief period. Each place has a different vibe, culture etc.

As you have not have given any detail on your question and you have not defined what you mean by "decent" interest, it is almost impossible to answer this question.

Posted via the Windows Central App for Android

Thanks for the reply.

As for the "Decent Interest", I was looking at doing a fixed deposit. So was asking how much I need to invest in the fixed deposit to get a decent interest to use for my monthly expenses.