Living in our city relatively cheap

Living in our city relatively cheap

Living in our city relatively cheap

We checked. Bengaluru is indeed less expensive than other cities in Asia

Feel you are shelling out too much for basic amenities in Bengaluru?

Turns out you are wrong. According to a survey, you are living in the cheapest Asian city. The Worldwide Cost of Living Survey by The Economist Intelligence Unit ranks the world's major cities by cost of living.

In 2018, Singapore retained its title as the world's most expensive city for the fifth consecutive year while Bengaluru is the cheapest city in Asia and fifth cheapest in the world, topped by Lagos (Nigeria), Almaty (Kazakhstan), Caracas (Venezuela) and Damascus (Syria). Chennai and Delhi are the only other Indian countries in the bottom-most rung. Metrolife did a comparative analysis of the prices of essentials in five cities (rounded off to the nearest rupee).

 

Singapore

Rent of a studio apartment in CBD:  SGD 2500 (Rs 1.24 lakh)
One kilo of India Gate Basmati  Rice: SGD 5.75 (Rs 285)
One kilo of banana: SGD 2.5 (Rs 124)
One kilo of chicken: SGD 8-9 (Rs  396- 447)
1 litre of petrol: SGD 2.16 (Rs 107)
Electricity charges:  21.56 cents/unit (Rs 10.69)
Bus fares:  Up to 3.2 km SGD 1.40 (Rs 69.40)

 

Hong Kong

Rent of a studio apartment in Central: HKD 24,000  (Rs 1,98,503)
One kilo of India Gate Basmati Rice: HKD 25 (Rs 27)
One kilo of banana: HKD 18.83 (Rs 156)
One kilo of chicken: HKD 60 (Rs 496)
1 litre of petrol: HKD 16.19 (Rs 134)
Electricity charges: HKD 1.132 per unit (Rs 9.36)
Bus fares: Minimum fare of bus HKD 1 (Rs 8.27)

 

Chennai

Rent of a studio apartment near T Nagar: Rs 9,000
One kilo of India Gate Basmati Rice: Rs 111
One kilo of banana: Rs 35-40
One kilo of chicken: Rs 200
1 litre of petrol: Rs 76
Electricity charges: Rs 3/unit (first 100 units are free)
Bus fares: Minimum fare of AC buses is Rs 30

 

Delhi

Rent of a studio apartment in South Delhi: Rs 12,000
One kilo of India Gate Basmati Rice: Rs 155
One dozen bananas: Rs 60
One kilo of chicken: Rs 160-180
1 litre of petrol: Rs 72
Electricity charges: Rs 4 per unit
Bus fares: Minimum fare of AC buses is Rs 11

 

Bengaluru

Rent of a studio apartment near CBD: Rs 20,000
One kilo of India Gate Basmati Rice: Rs 180
One kilo of banana: Rs 40-50
One kilo of chicken: Rs 120
1 litre of petrol: Rs 74
Electricity charges: Upto 30 units Rs 3.25 a unit
Bus fares: Minimum fare of AC buses Rs 10

 

Counted: 160 products and services

The Worldwide Cost of Living is a biannual Economist  Intelligence Unit survey that compares more than 400  individual prices across 160 products and services.  These include food, drink, clothing, household supplies  and personal care items, home rent, transport, utility  bills, private school fees, domestic help salaries and recreational  costs.

 

Reasons for distinction

The report says that within Asia, the  best value for money has traditionally  been offered by South Asian cities, particularly  those in India and Pakistan.  India is tipped for rapid economic expansion,  but in per head terms, wage  and spending growth will remain low.  Income inequality means that low wages  are the norm, limiting household  spending and creating many tiers of  pricing as well as strong competition  from a range of retail sources.  
This, combined with a cheap and  plentiful supply of goods into cities  from rural producers with short  supply chains as well as government  subsidies on some products, has kept
prices down, especially by Western  standards.

 

Dearest cities

Seoul, Tokyo and Hong Kong are the three most expensive  places in the world to buy staple goods.

 

Singapore merits

Singapore offers value in some categories, compared with  its regional peers. For personal care, household goods and  domestic help, Singapore remains cheaper than its peers, but
it remains the most expensive place in the world to run a car  and the third-priciest destination in which to buy clothes.

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