Hyderabad is the capital of Telangana and has been ranked as one of the best cities for living in India for several years. If you are considering moving to Hyderabad, knowing how much money you will need to live comfortably is important.
The cost of living depends on several factors, such as your lifestyle, habits, and job profile. Known as the ‘City of Nawabs’, the monthly living cost in Hyderabad varies based on different expenses like accommodation, travel, food, and much more.
Compared to the other big cities in India, Hyderabad is more affordable. Even with the property prices in Hyderabad consistently rising and infrastructure development attaining global standards, the city is comparatively inexpensive for the middle class.
Here are some factors that impact the living cost in this ancient city that is undergoing a transformation with the rising development in Information Technology (IT), finance, and pharmaceutical industries.
One of the most basic but important factors that influence the living cost in Hyderabad is accommodation. The major office parks are located in Hi-Tech city and Gachibowli and your office will probably be in one of these areas.
If you rent a house close to these locations, the monthly payout can be as follows:
However, if you consider living in a special house, your rent expense may be as high as INR 1 lakh per month. You can also live in a Paying Guest (PG) accommodation, which can cost between INR 5000 and INR 8000 per month.
An increasing number of job seekers are moving to Hyderabad as the city witnesses a boom with the thriving pharmaceutical, financial, and technological sectors.
Properties in Hyderabad have remained resistant to the otherwise downturn in the residential real estate segment. As per an article published in the New Indian Express, the average flat rates in Hyderabad in newly launched projects have witnessed a five percent year-on-year rise from April to June 2021.
So, if you are planning to buy a property in this city, you will probably have to pay a little more when compared to other South Indian cities like Chennai and Bangalore.
Your cost of food and groceries depends on your eating habits and family size. The expense may be between INR 1000 and INR 5000 based on your preferences and lifestyle.
Hiring a maid in Hyderabad will cost you around INR 1000 to INR 2000. And if you do not want to get into the hassle of buying groceries and cooking at home, you may opt for tiffin services.
The cost for two daily meals is approximately INR 800, which means you will spend about INR 24000 per month excluding your breakfast.
Renting the house is not the only expense as you will incur several other costs like electricity, Wi-Fi, water, garbage disposal, and much more to run the home.
Hyderabad does face water and power cuts and sometimes you may be without electricity for hours during the day. However, the Wi-Fi network is reliable and you can stream your favorite movies and shows without any lag.
The basic utilities can cost you around INR 2300 per month but again it depends on the size of the house and your lifestyle.
Hyderabad has an excellent public transportation service, especially the bus services are highly reliable. A one-way ticket on public transport costs about INR 30 and the monthly bus pass will cost you between INR 1000 and INR 1200 and depends on the distance you need to travel.
Moreover, traffic in Hyderabad is not as bad as in other cities like Mumbai and Bangalore.
After working the entire week, you may want to relax and spend some fun time with your loved ones. A meal and a movie can cost you around INR 800 per person.
Unlike some metro cities like Mumbai, the cost of movie tickets in Hyderabad is the same irrespective of the time of the day. Since the ticket prices are not time-sensitive, you do not have to go and watch your favorite movie in the morning to reduce your cost.
You can also visit popular lakes and other places to relax during the weekend after hectic workdays.
If you are conscious about your health and fitness, Hyderabad has several good gyms. A membership at a gymnasium in the city can cost you approximately INR 1800 per month.
If you have kids and if you and your spouse are both working, you may need to hire a nanny to look after the children, which can cost you about INR 8000 per month for an eight-hour daily shift.
If your child is young and requires pre-schooling, the monthly fee can be about INR 4000. For older children, the annual school fees can range between INR 1.50 lakhs and INR 4 lakhs depending on the standard in which they are studying.
The city caters to the needs of every shopper with several options like Abids Street, Begum Bazaar, Koti Market, and much more.
Hyderabad also has several showrooms and large malls if you like to buy branded products. Depending on your choice, the monthly shopping budget can be around INR 5000.
Compared to other metropolitan cities, the cost of living in Hyderabad is lower. If you opt for a PG accommodation in budget locations like LB Nagar, Uppal, or Himayat Nagar, the monthly cost can be around INR 3500 to INR 4500.
Renting a 1BHK in these areas can cost INR 5000 to INR 8000 per month. Your total monthly living cost with rent and other expenses like food, transportation, and utilities will be around INR 10000 to INR 15000 if you live in a PG accommodation.
And this may increase to around INR 12000 to INR 15000 if you rent a 1BHK. Moreover, in upscale localities like Madhapur and Jubilee Hills, monthly expenses can be between INR 25000 and INR 30000.
The Hyderabad flat prices are comparatively lower than other big cities in India, thus reducing their rentals. A 1BHK in Hi-Tech City, Madhapur is available on rent for around INR 15000 per month.
The total monthly living cost including rent and food, transportation, utilities, and others will be approximately INR 25000 to INR 35000.
If you rent a house in budget locations like Himayat Nagar or Ameerpet, you can reduce the monthly cost by INR 5000 to INR 7000.
If a family rents a 1BHK in LB Nagar, Uppal, or Ameerpet, the total monthly cost including rent, food, utilities, schooling, transportation, and others will be around INR 15000 to INR 20000.
The rent can increase by INR 7500 to INR 13000 for a 2BHK in these locations. In posh localities like Madhapur or Jubilee Hills, you may spend around INR 30000 to INR 50000 depending on the type of house you rent and your lifestyle.
Compared to most other state capitals in India, such as Bangalore, Chennai, Delhi, and Mumbai, Hyderabad has the lowest living costs.
The prices of most materials have increased the construction costs in Hyderabad. Compared to before, if you build a 2,000 square-feet home, you will have to pay INR 10 lakhs more for its construction.