You spend many years working hard to earn income and create wealth. So you do deserve a happy and stress-free retired life. An important aspect of a content retired life is the place that you decide where you want to sit back and enjoy the fruits of your labor.
I have written this keeping NRIs in mind – this will also give you some idea about expenses in these places…
Places To Retire In India
Some of the factors that are important to decide on the location are –
Cost of living – The cost of living in the place should be within your budget. Zero in on a place where your retirement kitty will be able to fund your living costs comfortably.
Access to healthcare facilities – As you grow older, you will require healthcare and access to good and affordable medical facilities.
Climate – In old age, tolerance levels to heat and cold become lesser than before. You need to select a place that does not have extreme climatic conditions.
Social Support System – As you grow older, it is good to have support – emotional support and physical support. It is nice to have friends and relatives living nearby. You should also choose a location that is safe and secure.
Personal Preferences – Finally, the decision to retire is a highly personal decision. Some of us want to live near the beach, some of us prefer mountains and others want to live near the extended family. Some of us want to go back to our native place. While it is good to choose a city or town that has a special place in your heart, do consider practical matters as well before finalizing the location.
Best Cities To Retire In India
In India, there are many Tier-1 and Tier 2 cities that offer a good standard of living and are suited for a comfortable retired life –
Pune is the second-largest city in Maharashtra. It is a favorite among retirees due to the weather, low pollution levels, and proximity to Mumbai. If your children are working in Mumbai and you do not want to live in Mumbai but be close to your children, Pune is a good option. Pune also has many senior living residential properties. Here are some figures on living in Pune –
|Rent for 2 BHK house||₹10,000 – ₹25,000|
|Cost Of Buying a 2BHK House (<=700 sq feet)||₹25,00,000 – ₹65,00,000|
|Cost of Milk (Regular)||₹51|
|Cost of Eating out in a mid-range restaurant||₹1,000|
|Fees of a general physician||₹400 – ₹700|
Check 5 easy Steps – Planning for Retirement in India
Coimbatore which has the moniker – ‘Manchester of East’ is another popular destination for retirement mainly due to the pleasant weather, good healthcare facilities and low cost of living.
The one of the city which is also called Kovai is that the crime rate is higher than the national average. Here is an indication of the cost of living there –
|Rent for 2 BHK house||₹8,000|
|Cost Of Buying a 2 BHK House (<=900 sq feet)||₹20,00,000 – ₹35,00,000|
|Cost of Milk (Regular)||₹46|
|Cost of Eating out in a mid-range restaurant||₹600|
|Fees of a regular doctor||₹100 – ₹500|
Mumbai, the Maximum City is always in a tearing hurry. It can overwhelm you with its pace and crowds. But it is a city with character and if you have lived in Mumbai for a long time, it is difficult to get away from it. It has good public transport, easy private transport, and the best healthcare facilities.
It is costly to live here and not easy to commute within the city. Let us look at the prices for some things –
|Rent for 2 BHK house|
(Depends on locality)
|₹30,000 – ₹80,000|
|Cost Of Buying a 2 BHK House (<=700 sq feet) (Depends on the locality)||Wide Range – ₹25,00,000 to ₹2,00,00,000|
|Cost of Milk (Regular)||₹54|
|Cost of Eating out in a mid-range restaurant||₹1,200|
|Fees of a regular doctor||₹400 – ₹1,000|
It has been a top retirement destination in India for quite some time. There are many gated communities for retirees being developed in the city. It is a city of gardens and has mostly pleasant weather conditions. The city has well-established residential pockets as well as many areas that have been newly developed. The only snag in the city is the traffic. If you are planning to live in Bangalore, select a location that is self-sufficient with all amenities so that your commute is reduced.
|Rent for 2 BHK house||₹15,000 – ₹30,000|
|Cost Of Buying a 2 BHK House (<=700 sq feet)||₹25,00,000 – ₹65,00,000|
|Cost of Milk (Regular)||₹42|
|Cost of Eating out in a mid-range restaurant||₹1,000|
|Fees of a regular doctor||₹400 – ₹700|
Check – NRIs returning back to India
Chandigarh is the first planned city of India. It is very clean and well-connected by road, rail, and air to most locations in India. It has good infrastructure facilities. The crime rate in Chandigarh is lower than the national average.
|Rent for 2 BHK house||₹10,000 – ₹14,000|
|Cost Of Buying a 2 BHK House||₹20,00,000 – ₹45,00,000|
|Cost of Milk||₹55|
|Cost of Eating out in a mid-range restaurant||₹800|
|Fees of a regular doctor||₹200 – ₹700|
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It is a fast developing city with a robust infrastructure. A lot of economic development is happening in the city. It has good healthcare facilities. But the climate is hot and dry. Non-vegetarian food is not found aplenty and alcohol is banned, which might be an issue for some people. Here is an indication of the cost of living in Ahmedabad –
|Rent for 2 BHK house (<=1000 sq feet)||₹10,000 – ₹16,000|
|Cost Of Buying 2 BHK House||₹25,00,000 – ₹60,00,000|
|Cost of Milk||₹52|
|Cost of Eating out in a mid-range restaurant||₹700|
|Fees of a regular doctor||₹300 – ₹800|
There are other destinations which are good too such as Goa, Dehradun, and Chennai each of which has its advantages and disadvantages.
There are several factors to consider while selecting a retirement destination – finances, healthcare, proximity to family, amenities, preferences and more.
Ultimately, the choice is a highly personal one. Make sure to consider the pros and cons of each city shortlisted and pick the right retirement destination that makes it possible for you to enjoy the golden years of your life in peace and happiness.
Are You Ready To Retire In India Without Worry?
If you have already zeroed on the place you plan to retire (other than your native place) – please share in the comment section & why you prefer that…