Renting apartments in the city
Are you a single male or female and looking for a place of your own in the big city? Apart from some requirement that you might have for your new place, like a balcony or a bath tub, you also need to think about how much you can spend on rent each month. Apartments in the city can be quite expensive, and when you have to pay all expenses from just one income, you need to do some maths before visiting any places.
A simple rule of thumb is that no more than one third of your disposable income should be used for paying the rent. This also includes the costs for electricity and the water bill, or cable TV. If you have an income of about Rs. 150.000, a third of your income would be Rs. 50.000. However, if you take off the costs of utilities and other related expenses, this would leave you with about Rs. 40.000 that you can spend on the actual rent each month.
However, apartments in the big cities like Mumbai and New Delhi can be very expensive. A Rs. 40.000 budget will probably give you the choice between a small 3 bedroom unfurnished apartment, or a 2 bedroom furnished one. If you feel that you have to break the ‘one third rule’ to find a place to live, then maybe you should consider to look for alternatives in a less expensive area.
To get your house hunt started, you could take a look at the website of Quikr. Here you find a wide range of apartments rented out by brokers or individuals in all the big cities of India.