Pune is not only known as the ‘Cultural Capital of Maharashtra’, but being a centre of higher learning, it’s also referred to as the ‘Oxford of the East’. Many prestigious institutions have their campuses in this city, which attract thousands of students from all over the country. Pune is also home to some of the top MNCs, which draw a large chunk of IT and other professionals to this city— all of whom grapple with one common issue: the cost of living in Pune!
This article attempts to offer a glimpse of the major monthly expenses that potential newcomers to Pune will need to consider before they move to this amazing city!
Housing Expenses in Pune
Rental Costs
Apartment rent is a major factor to consider when you’re calculating the cost of living in Pune. Rental costs vary depending on the apartment size, location, and amenities. Renting a 1BHK flat in an area like Wakad or Katraj can cost you around ₹10,000 to ₹15,000 per month. Meanwhile, renting the same flat in a posh area like Koregaon Park or Viman Nagar can go up as high as ₹25,000 per month. For students who cannot afford sky-high rents, there are shared living accommodations that are available for much lower rates.
Property Purchase Prices
To optimise your cost of living in Pune in the long run, you may choose to buy a property instead of renting it. In developing areas like Hinjawadi or Wagholi, property prices can range from ₹5,000 to ₹8,000 per sq. ft. On the other hand, property prices in posh areas like Kalyani Nagar or Baner can be as high as ₹10,000 per ft. and above. If you’re looking to buy a 2 BHK apartment in Pune, it can cost you around ₹60 lakh to ₹ 1 crore, depending on the location and amenities offered.
Utility and Internet Costs
A vital part of the cost of living in Pune is to account for the utility and Internet bills. Surprisingly enough, these utility bills are quite reasonable. For instance, the monthly electric bill for a 1 BHK apartment ranges from ₹800 to ₹1500, depending on the AC usage. If you live in a residential society, water and garbage disposal charges are included in the maintenance fees, which normally vary between ₹1,000 and ₹2,000 per month. As far as Internet costs are concerned, you can easily get high-speed broadband services in the range of 100 Mbps to 300 Mbps speed for as much as ₹500 to ₹1,200 per month.
Food and Grocery Expenses
Dining Out
One expense that you cannot afford to exclude while calculating the cost of living in Pune is dining out. Pune has a buffet of lip-smacking food options, which can cost you as low as ₹100 to ₹200. On the other hand, a three-course meal in a decent restaurant can cost you around ₹800 to ₹1,500. However, if you’re looking to have an exquisite culinary experience in one of Pune’s fine dining restaurants in a posh locality like Koregaon Park or Baner, the cost of a meal for two people can go up to ₹3,000.
Grocery Shopping
Although your grocery bill will depend on how expensive the items are that you’re buying, it’s reasonable to speculate that on average, you will have to spend around ₹2,000 to ₹4,000 for a one-person household. There are local markets and supermarket chains that offer a plethora of options and offer discounts on several grocery items. Moreover, you also have home delivery apps that you can use to order your groceries, saving on conveyance cost and time. Therefore, you may not need to allocate a huge amount of funds for grocery shopping while calculating your overall cost of living in Pune.
Transportation Costs in Pune
Public Transportation
An indispensable factor that needs to be considered while calculating the cost of living in Pune is transportation. If you’re taking the public bus for commuting, you can expect to shell out ₹10 to ₹30 for short-to-medium distances. A monthly bus pass may cost you around ₹900 to ₹1,200. There are also other modes of transportation, like the metro, that have a fare of ₹10 to ₹35 per trip, while auto-rickshaws and ride-hailing apps are also available that can cost a little more money. Therefore, plan your monthly budget accordingly.
Private Transportation
If you don’t want to take public transport, especially while commuting to the office, then buying your own bike or car is the other viable option. However, you have to be cognisant of monthly fuel expenses that can range from ₹1,000 to ₹3,000 for two-wheelers and ₹3,000 to ₹6,000 for cars. Not to mention, you will also have to factor in the EMI when you’re calculating the overall cost of living in Pune. You can expect to shell out ₹80,000 to ₹1.5 lakh for a scooter or bike and upwards of ₹5 lakh for a car.
Education and Childcare Costs
Education and childcare costs need to be considered if you plan to move to Pune with your family. Education costs in Pune vary from government schools to private and international schools. For instance, the average fee in a private school in Pune would range from ₹2,000 to ₹10,000, while international schools can charge around ₹15,000 to ₹30,000 per month. As for daycare fees, they can cost you around ₹3,000 to ₹8,000 monthly.
Monthly Budget Estimates for Different Demographics
Students and Bachelors
The cost of living in Pune for students and unmarried professionals can range from ₹15,000 to ₹20,000 a month, depending on their lifestyle choices. They often prefer to live in shared accommodations that cost them somewhere between ₹5,000 and ₹10,000 per month in rent and another ₹5,000 to ₹7,000 on food, transport, and utilities. However, those who want to stay at an upscale location and have cars or bikes, their overall monthly budget may go over ₹20,000.
Couples and Families
For SINK, DINK, and couples with kids, the cost of living in Pune is understandably higher than that of single students and professionals. For instance, a couple renting a 1 BHK flat in a decent locality may have to spend ₹15,000 to ₹20,000, while a family living in a 2 BHK or 3 BHK flat may have to spend as much as ₹25,000 to ₹40,000 per month. To live a comfortable life, a family of three or four may have to spend upwards of ₹80,000 a month in Pune.
Conclusion
Considering it’s a major city with a high degree of urbanisation, the cost of living in Pune strikes as somewhat reasonable, depending upon your choice of locality and lifestyle preferences. Pune has a vibrant street food culture, a thriving real estate and rental market, a plethora of malls and supermarkets, and decent modes of transportation that make it a great place to live without having the need to spend a fortune.
FAQs on cost of living in Pune
Is it expensive to live in Pune?
Generally, the cost of living in Pune is not as high as in other major cities like Mumbai or Bengaluru. While you can make a decent living in Pune without spending a lot of money, the locality you live in and the lifestyle you maintain also impact your overall cost of living.
Is 50k salary enough in Pune?
If you are single, a student, or a young couple, you should be able to get by in Pune on a ₹50,000 per month salary. Opting for living in shared accommodation, taking public transport, and limiting dining out in favour of having home-cooked meals can significantly reduce your expenses.
Is Pune more expensive or Bangalore?
On average, Bangalore (Bengaluru) tends to be a little more expensive than Pune in terms of rent and dining out. However, Pune offers a decent standard of living, good connectivity, and affordable food options and is also home to many prestigious institutions and top MNCs, which make it a preferable destination for students and young professionals.
Is Pune a good city to settle?
With a growing job market, world-class educational institutions, and a cosmopolitan culture, Pune is an excellent city to settle in. The cost of living in Pune is also quite reasonable as compared to other major cities. The city also has a thriving real estate market that offers affordable living accommodations.
Is Pune costly than Mumbai?
No, the cost of living in Pune is significantly lower than that of in Mumbai. In terms of housing, transportation, food, and many other aspects, Pune is more affordable than Mumbai. However, posh areas like Koregaon Park or Baner can have rent prices that are like what you will find in the suburbs of Mumbai.
Which area is costly in Pune?
Koregaon Park, Viman Nagar, Kalyani Nagar, and Baner are some of the localities that are considered posh and thus exhibit a higher cost of living. This is due to the proximity of IT hubs and high-end lifestyle amenities that are available in the general area. As a result, these places have higher rental and property prices compared to other locations.
