India – A country which is known for its cultural diversity and economical stability is amongst the fastest growing nations of the world. India has seen multidimensional growth with respect to industrial development over the past decade. Now with the advent of Information technology newer avenues of growth have been opened up. Due to this some major cities of India have witnessed boundless growth with respect to the economy and industries. At the same time cost of living has gone up significantly with the increasing incomes of the individuals. The IT sector is one of the largest employment generating sectors of the country. The package which an employee, at present, receives in this sector is indicative of the economical and financial independence an individual can attain in this democratic country. Not only these, other sectors like the agricultural, industrial and manufacturing have also grown by leaps and bounds over the past few years and have contributed tremendously to the growth of the economy.In a recent survey conducted by a popular news magazine, a list of top ten costliest Indian cities was deduced with Delhi topping the list followed by Mumbai, Bangalore, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Chandigarh and Jaipur. The underlying benchmarks for evaluating the cities were on the basis of the cost-of-living in those cities.Let’s take a look at the basic cost of living in some of these developing cities:We will be analyzing the cost of living in different Metro Cities of India in comparison to New York City. **The statistics represent numbers (in percentage) and weightage of the parameters in comparison to that of NYC’s similar attributes.Bangalore:
- Rent- 9
- Groceries- 32
- Restaurants- 17
- Purchasing Power- 61
The statistics implies that the rental of Bangalore city is 9% of the NYC’s rentals which is considered to be of 100% in value for analysis. Grocery expenditure is 32% of NYC’s, restaurant expenses 17% of NYC’s and Purchasing Power is 61% of NYC’s.Delhi:
- Rent- 11
- Groceries- 34
- Restaurants- 25
- Purchasing Power- 53
Mumbai:
- Rent- 19
- Groceries- 37
- Restaurants- 28
- Purchasing Power- 53
Chennai:
- Rent- 8
- Groceries- 33
- Restaurants- 15
- Purchasing Power- 59
Pune:
- Rent- 9
- Groceries- 35
- Restaurants- 19
- Purchasing Power- 60
Hyderabad:
- Rent- 6
- Groceries- 34
- Restaurants- 16
- Purchasing Power- 57
Ahmedabad:
- Rent- 7
- Groceries- 37
- Restaurants- 23
- Purchasing Power- 51
Navi Mumbai:
- Rent- 7
- Groceries- 33
- Restaurants- 18
- Purchasing Power- 53
Noida:
- Rent- 9
- Groceries- 36
- Restaurants- 31
- Purchasing Power- 71
Chandigarh:
- Rent- 6
- Groceries- 33
- Restaurants- 19
- Purchasing Power- 52
Let’s take up a comparative study of two Southern cities of India-Chennai and Trichy:
Pros of Chennai:
- Large number of IT, industrial and commercial sectors
- Better employment prospects
- Excellent institutions offering world class education
- Good transportation facilities
- Large number of eateries and recreational centres
- Good quality medical facilities
- Higher appreciation assured on properties
Cons of Chennai:
- Pollution
- Traffic Jams
- Weather
- Higher cost of living
- Higher property costs
Pros of Trichy:
- Quality educational institutions
- Affordable cost of living
- Reasonable property costs
- Excellent transportation facilities
- Availability of quality medical facilities
Cons of Trichy:
- Weather
- Average appreciation in property value
- Traffic
As seen in the above comparison though the cost of living is lower in Trichy, better employment prospects are being generated in Chennai which is why it attracts a large number of migrants. Likewise Trichy has excellent medical and educational institutions where the costs are comparatively lower as compared to Chennai. If we take up real estates, property prices are much more affordable in Trichy in comparison to Chennai where prices run into crores.Thus cost of living is one of the significant factors which influences the overall development and growth of a city.** The above statistic is based on the research and analysis done by team BharatEstates.com and may tend to vary from other websites.займ на карту без отказов круглосуточновзять кредит онлайн