Hyderabad is one of the most loved cities in the world and has a name called the low cost of living city in India in metropolitan cities. The population of Hyderabad exceeds one crore, and the majority of its citizens come from other states and even other countries.
Compared to Bangalore, Hyderabad even now stands way cheaper in the cost of living.
|Cost of living||Bangalore||Hyderabad|
|Rental on average for 1 BHK||9000||8000|
|Food ( Chicken)||149rs/half kg||139rs/half kg|
|Meals||100/per meal veg||80/per meal veg|
The rise of IT may affect the cost of living
As we have seen in Bangalore by which how the prices have shot up due to the rise in demand for basic necessities.
Bangalore is completely filled with new-age startups and large IT corporations.
After completing their graduation, most graduates rush to Bangalore to land lucrative jobs in their fields. Since IT pays a good salary and benefits, spending will also be in line with this. This will result in a spike in prices.
This particular field of economics is too complex and requires such a depth of knowledge to understand it.
To make it very easier let’s do it with an example
If more people migrate to a city for employment then the requirement for rental housing will skyrocket. If rental increases then the property prices increase. As a result, all the basic necessities will also increase.
Rising inflation, however, will add fuel to the fire of the rising cost of living.
Why Hyderabad may not affect as Bangalore
Unlike Bangalore, Hyderabad doesn’t totally depend on the IT sector. Hyderabad’s vast expansion in the Pharma sector. In fact, Hyderabad pharma companies produce roughly 1/3rd of global production.
Hyderabad is divided into specific clusters depending upon the sectors and the production. So, if IT absorption increases then the particular cluster may affect the cost of living but the other enjoy as usual.
As said Hyderabad is for everyone and anybody can lead a peaceful life