Precambrian Posted August 11, 2015 Posted August 11, 2015 I am living overseas at the moment. But planning to return to India. My question is, how much is really 'enough' to lead a comfortable life for a family of 4 in India at the moment? By comfortable I figure in: 1. A decent 2 BHK apartment 2. A decent sedan car 3. Middle class urban lifestyle - kids going to a good school etc Pardon me for being very generic but I am interested in knowing ICFers thoughts - relevant to where they are put up at and all that. This thread might also help being a comparitive to analyse cost of living in various cities/places in India.
Raghav_12 Posted August 11, 2015 Posted August 11, 2015 Bangalore' date=' at least 1.5 to 2 lakhs per month[/quote'] MTC, Before tax or post tax?
swatpulla Posted August 11, 2015 Posted August 11, 2015 In Delhi, 1 Lakh a month should be enough (before tax).
Anitha Posted August 11, 2015 Posted August 11, 2015 MTC, Before tax or post tax? Post tax actually. If you need to pay loans for the house and sedan
Desi Cartman Posted August 11, 2015 Posted August 11, 2015 It depends if you want to rent or own the property, where you wish to live, how old your kids are and the type of lifestyle.
beetle Posted August 11, 2015 Posted August 11, 2015 If the house and car are paid off.. School fees...about 10,000 /per child /month.(this could include transportation).....................20,000 If you live in a hot place ,then mimimum ......................6-7,000 in electricity bill/month. Petrol cost .........5,000/month Groceries + other stuff...20-30,000 /month If you live in a society,then 3-3000 /month maintenance charges. If both are working and you want to keep help for everything including cooking....5-8000 for maid/help. If cook is not required,then 2-3000 for help which would include,sweeping and mopping,cleaning utensils.cleaning car. Entertainment---that is totally dependent on life style.
Desi Cartman Posted August 11, 2015 Posted August 11, 2015 You people have missed inflation, age of kids etc. I think op wants to know the lump sum.
randomGuy Posted August 11, 2015 Posted August 11, 2015 You people have missed inflation' date=' age of kids etc. I think op wants to know the lump sum.[/quote'] If the OP is talking abt this- https://en.m.wikipedia.org/wiki/Financial_independence From people I have heard, 2-2.5 cr is sufficient for fin. Independence (I.e. not having to work for money anymore in this life).
Khalpat Posted August 11, 2015 Posted August 11, 2015 In National Capital Region most of the decent schools have monthly fees ranging from Rs 6000 to Rs 10000 per month. The budget for groceries and other household items is minimum Rs 25000/- for small family with two kids. Then the society charges, electricity bill would add up to another 5000/-. This takes the amount to minimum Rs 50000 for two kids studying in decent school and daily household. Now add other amounts like: Rent or the EMI of your own house Transportation cost of Commuting from office to house Enjoying the Weekend Savings Investments If you are planning to settle down in Noida/Greater Noida/Ghaziabad/Faridabad area in NCR then 1 lac per month is good. If planning to settle in South Delhi or Gurgaon then you will have to add up the additional living cost of atleast Rs 25000.
Autonomous Posted August 11, 2015 Posted August 11, 2015 Dont know about India but in Pakistan, Expenditure is like: 10k fuel Expense 20k-30k School Fee for good educational institute 20-30k for a good place to rent 30k Kitchen Expense 10-15k Other Expense Makes up 1 Lakhs to 1.25Lakhs PKR
jusarrived Posted August 11, 2015 Posted August 11, 2015 Depends on your lifestyle , but heres the bare minimum you need for 2 cities I have lived. Bangalore : 2BHK : 25K ( since you said decent) . Other expenses : 25K ( Grocery / Bills etc for 2 people ) Kids - 20K . Car - 20K your expenses would be close to 1 Lac Mumbai : 2BHK - 50-60K ( you still wont get decent ) Other expenses - 35K Kids - 30K Car - 20 K ~1.4 Lac in Mumbai .
Detonator Posted August 11, 2015 Posted August 11, 2015 In coimbatore, one can live comfortably with 40k per month. Rent - can get 2BHK at 6k to 9k. Can rent an individual house for 10k. Only land rates are sky high. Car - 10 k per month on avg emi home needs - 5k per month is enough. school fees ranges from 5k to 20k per term for decent to very good schools. some schools are charging upto 3L per year, they aren't meant to be good, it's just that the rich kids will get to interact with only rich kids
jusarrived Posted August 11, 2015 Posted August 11, 2015 Chennai would be 15-10 K Cheaper than Bangalore , Delhi would be ~Mumbai's imo
jusarrived Posted August 11, 2015 Posted August 11, 2015 Mangalore : surprisingly expensive .My friend who came back from a long stay in US moved here , but much better quality of life Rent : 20K Others : 20K Kids : 10K Car : 20K ~70K
Detonator Posted August 11, 2015 Posted August 11, 2015 Mangalore : surprisingly expensive .My friend who came back from a long stay in US moved here , but much better quality of life Rent : 20K Others : 20K Kids : 10K Car : 20K ~70K Agree. Rent in areas near KMC are also high in my short stay there.
mishra Posted August 11, 2015 Posted August 11, 2015 @OP. Depends. If you got kid older than certain age they will find it very difficult to adjust in school and follow school curriculum. So only option with you is international schools. I know a Telugu gentleman He cam back because his kids started doing poorly in languages and hence grades got affected. A ex collegue of mine became millionaire (in UK pound) by exclusively investing in real estate in India (that was about 7 years back). Although he returned to India for good as his child was just two year old. But saw him back working in Middle east couple of years back. So no money is good enough. 2-3 lakhs monthly income is minimum if you got 2 kids.
Precambrian Posted August 11, 2015 Author Posted August 11, 2015 Great stuff guys. Will go through these in detail and post my queries. :icflove:
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