Is Twenty Lakh Sufficient To Live In A Metro City? An IIT Graduate Sparks Discussion in His Post

For many people, living in a large city is the ideal because of the better quality of life and plenty of employment options. However, since living in these places is more expensive, this lifestyle comes with a heavy price tag. An Indian Institute of Technology (IIT) Kharagpur alumni recently generated debate on social media by posting a thorough breakdown of costs for a family of four living in a major Indian metropolis. According to Pritesh Kakani’s computation, a family’s annual spending, excluding luxury costs, might total up to Rs 20 lakh.

After going viral, his message elicited conflicting responses. Some contended that Rs 20 lakh a year is an inflated amount, while others accepted the valuation and deemed it realistic.

Kakani’s list included a number of areas, including housing, dining, travel, medical, schooling, and grooming. The rent, which is Rs 35,000 per month or Rs 4.2 lakh per year, is at the top of the list. Next comes the cost of food, which is Rs 10,000. The anticipated cost of eating out is Rs 4,000, while the cost of vacation is Rs 1.5 Lakh.

The estimated cost of petrol is Rs 5,350, while the annual medical expenditures are Rs 8,000 or Rs 96,000. Gas and electricity together cost Rs 1,500 a month, while the monthly cost of local travel might be as high as Rs 2,000. The largest annual cost is Rs 4 Lakh for schooling. He shared the list and said, “A family of four’s annual expenses in an Indian metropolis is 20 lakh.” No additional luxury costs

A user raised doubts over the veracity of the bill, pointing out that the car’s cost of Rs 2 lakhs and the food’s cost of Rs 1.2 lakhs sounded suspiciously high.

Another person highlighted specific costs, including those associated with a vehicle loan, a puppy, and a vacation to Asia.

A user pointed out that the budget given may be significantly impacted by the wedding of a single family.

Someone gave the explanation for why cars are so expensive, saying that monthly payments, upkeep, and a loan might cover the cost.

Another person questioned if having a dog and a vehicle is really necessary, believing that if someone doesn’t own a home, they should be able to avoid paying for these things.

Pritesh Kakani, an IIT Kharagpur alumnus, uploaded the expansive list on X, and it quickly went popular, receiving over one million views.