Potential transfer to Bangalore - advice needed!

tecolote · Nov 24th, 2007, 11:41

Greetings, IMers!

I've been lurking for a while and happily I now have occasion to request your expert advice.

I've been working towards a one-year transfer to our company's office in Bangalore. I have looked through the threads here and still have some questions. I apologize in advance if I'm repeating anything!

I have actually visited the office where I'll be working and was on-site for two weeks in June 2007. The people there are fantastic and incredibly helpful. I know what the dress code is and I'm not worried about that or about general safety.

Having heard a bit about salaries from my coworkers, I feel I have been offered a decent salary (approx. INR 51,000 net per month). I should explain that I am not an engineer or IT person, I am an English editor in a supervisory position in our company - it seems like a decent equivalent to what I make in Montreal.

My worry is that I have student loan payments that I would need to pay in Canadian dollars. I will have enough extra cash to cover at least 6 months of these while gone, but will still have to make some payments by transfer from an Indian bank account to a Canadian bank account for a few months. I have a feeling this will be somewhat expensive. I will check with my bank here (CIBC) about costs, but does anyone have recommendations for an Indian bank experienced with international transfers?

I have read that rents in Bangalore are expensive. I would like to try to find something for INR 10,000 if possible. Is this realistic? I don't need anything posh, but safe and clean are a must. The office is at MG Road near Trinity Circle, but there is an office taxi service, so commuting is not as much of an issue as it could be. My job would be such that if I arrive late due to traffic, I could just stay later to make up the time.

I stayed in Malleswaram for a few days when I was there before and wouldn't mind living in an area like that. But I have no idea what it would be like as a foreigner living in such a neighbourhoood. I'm quite mellow, but I'm a single female, I drink alcohol, and I may have male friends staying with me if friends or friends of friends decide to visit. I'm not young (almost 40), if that makes a difference.

Sorry for the long post, and thanks in advance for any advice!

capt_mahajan · Nov 24th, 2007, 11:55

Many Indian banks are experienced in transfers abroad.

I would recommend Axis Bank, followed by Citibank and then maybe Standard Chartered. I have dealt with all.

Compare their costs, though.

tecolote · Nov 26th, 2007, 05:11

Thanks for the reply, capt_mahajan. My knowledge of Indian banks was limited to which ones would accept my debit card, so this info is very helpful indeed.

ChocolatNY · Nov 26th, 2007, 05:57

i know paying guest facilities go for around 6000 per month, but it sounds like you want your own place, that would be expensive i think. are you amenable to having a roommate? i have friends who rent out apartments in bangalore, i can find out what the going rate is. also, you do know that most places require a deposit of 11 months rent in advance??.. i think that's crazy but that's what i've been hearing..

tecolote · Nov 26th, 2007, 06:58

Thanks for the info, ChocolatNY. I would prefer to have my own place but am not sure I can comfortably afford that given the high rents in Bangalore. I'm willing to consider having a roommate if it turns out to be a better option. I've heard of the huge deposit that is often required, and am a bit worried. How does it work? Does it immediately go towards rent or is it held as a sort of damage deposit and returned when the renter moves out? I'm really hoping it's the former as the latter leaves one open to all kinds of shenanigans, at least if Bangalore is anything like Canada. ;-)

I'd love to hear examples of going rates for 1 or 2 bedroom apts. I guess what I'm looking for is a "mid-market" neighbourhood that has convenient shopping for groceries and other necessities and maybe a few restaurants. I've been told areas like Fraser Town or Cox Town might fit the bill.

capt_mahajan · Nov 26th, 2007, 08:49

On transferring money abroad, there are rules restriciting who can transfer how much.

Though the amounts have become larger over the years (even a resident Indian can transfer upto 200000 USD for investment purposes, annually), do check the rules as they apply to you, in Bangalore

This article pertains mainly to residents, but still..
http://economictimes.indiatimes.com/...ow/2477419.cms

ChocolatNY · Nov 26th, 2007, 10:34

this is what i've found out:

If you want areas close to MG road You can look at
Vasanthnagar
Cunningham road
Jaymahal - 20k+ (Nice house) but i have also heard you do get houses for 12-13k as well
cox town
frazer town
Indranagar
domblur
Ulsoor ( near the lake)
Vicotria layout

the going rate is generally 12k onwards for 1 BR. indiranagar and domblur you can get 1 BR for 8-10k, 2 BR for 15k onwards. coxtown fraser town are nice areas with a mostly anglo-indian population.

tecolote · Nov 26th, 2007, 11:43

This is encouraging - it looks like there are several affordable options reasonably close to the office. Thanks so much for the rent info; essential for budget planning!

*jyoti* · Nov 26th, 2007, 12:28

I am living in Bangalore, PG, on about 15,000 Rs per month. Granted, I'm doing volunteer work/research, so pretty low level income and living in PG (5,000/month), but 51,000 should be more than sufficient, minus whatever you need for bills back home. Kind of depends on your level of living. Cox Town/Frazier Town/Cooke Town are not too far from MG Road and are nice, quiet areas (and safe). A 2BR apt here is about 13,000, tho. Not many 1 BR since it's a more residential/family area. South of MG Road where more IT people live is better for finding a roommate or a 1 BR set up, I believe.

ChocolatNY · Nov 26th, 2007, 12:30

jyoti, is that 5k or 15k?? i know PGs are available for 6k with brekkie and dinner..

*jyoti* · Nov 26th, 2007, 12:40

5K. My total living expenses is about 15K. I have breakfast and dinner, but that's because she's a friend of a friend. Normally she would charge extra for that. That is for my own room, not sharing as some PG are, and being able to come and go as needed (which some PG do not allow).

ChocolatNY · Nov 26th, 2007, 12:42

nice! do you have internet access/broadband at your PG?

*jyoti* · Nov 26th, 2007, 12:45

Nope. Long story. Just moved in, going to get a USB modem. I have seen signs for places with internet access, tho. It's just me renting, and the aunty doesn't really "get" what internet is for, so she doens't have. Being on a non-resident visa creates some issues for signing up myself.

ChocolatNY · Nov 26th, 2007, 13:09

try telling her she can get more money if she invests in broadband/wireless!

tecolote · Nov 30th, 2007, 08:53

I'm back with more questions. After receiving some excellent advice on this board, I've managed to come up with a budget that has left me a little worried.

After factoring in payments in Canadian dollars for student loan payments, storage space rental, international bank transfers, and a monthly rent of INR 15,000, it seems I will be left with INR 13,500 per month for everything else. I know Bangalore is an expensive city - will this be enough to get by? I will have money to cover about six months of loan payments, but that still leaves six months with the above budget...

I don't have an extravagant lifestyle here in Montreal, so I'm not expecting to have that in Bangalore, either. I would just like to be able to do a bit of travelling around, go out with friends occasionally and buy a few things if I need them (or really, really want them enough to cart them back home). I know that people get by on much less, but that amount seems rather small. Since I've only been there as a tourist with Canadian dollars, I really don't know how far that would go as a resident.

Nov 24th, 2007, 11:41	#1
tecolote Member Join Date: Apr 2007 Location: Bangalore Posts: 21	Potential transfer to Bangalore - advice needed! Greetings, IMers! I've been lurking for a while and happily I now have occasion to request your expert advice. I've been working towards a one-year transfer to our company's office in Bangalore. I have looked through the threads here and still have some questions. I apologize in advance if I'm repeating anything! I have actually visited the office where I'll be working and was on-site for two weeks in June 2007. The people there are fantastic and incredibly helpful. I know what the dress code is and I'm not worried about that or about general safety. Having heard a bit about salaries from my coworkers, I feel I have been offered a decent salary (approx. INR 51,000 net per month). I should explain that I am not an engineer or IT person, I am an English editor in a supervisory position in our company - it seems like a decent equivalent to what I make in Montreal. My worry is that I have student loan payments that I would need to pay in Canadian dollars. I will have enough extra cash to cover at least 6 months of these while gone, but will still have to make some payments by transfer from an Indian bank account to a Canadian bank account for a few months. I have a feeling this will be somewhat expensive. I will check with my bank here (CIBC) about costs, but does anyone have recommendations for an Indian bank experienced with international transfers? I have read that rents in Bangalore are expensive. I would like to try to find something for INR 10,000 if possible. Is this realistic? I don't need anything posh, but safe and clean are a must. The office is at MG Road near Trinity Circle, but there is an office taxi service, so commuting is not as much of an issue as it could be. My job would be such that if I arrive late due to traffic, I could just stay later to make up the time. I stayed in Malleswaram for a few days when I was there before and wouldn't mind living in an area like that. But I have no idea what it would be like as a foreigner living in such a neighbourhoood. I'm quite mellow, but I'm a single female, I drink alcohol, and I may have male friends staying with me if friends or friends of friends decide to visit. I'm not young (almost 40), if that makes a difference. Sorry for the long post, and thanks in advance for any advice!

Nov 26th, 2007, 10:34	#7
ChocolatNY Wandering Gypsy Join Date: Nov 2007 Location: NYC Posts: 170	this is what i've found out: If you want areas close to MG road You can look at Vasanthnagar Cunningham road Jaymahal - 20k+ (Nice house) but i have also heard you do get houses for 12-13k as well cox town frazer town Indranagar domblur Ulsoor ( near the lake) Vicotria layout the going rate is generally 12k onwards for 1 BR. indiranagar and domblur you can get 1 BR for 8-10k, 2 BR for 15k onwards. coxtown fraser town are nice areas with a mostly anglo-indian population. __________________ We are Pilgrims; we shall go Always a little further: it may be Beyond that last blue mountain barred with snow Across that angry or that glimmering sea...

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Nov 24th, 2007, 11:55	#2
capt_mahajan (in charge of navel affairs) Join Date: Sep 2005 Location: India Posts: 10,105	Many Indian banks are experienced in transfers abroad. I would recommend Axis Bank, followed by Citibank and then maybe Standard Chartered. I have dealt with all. Compare their costs, though.

Nov 26th, 2007, 05:11	#3
tecolote Member Join Date: Apr 2007 Location: Bangalore Posts: 21	Thanks for the reply, capt_mahajan. My knowledge of Indian banks was limited to which ones would accept my debit card, so this info is very helpful indeed.

Nov 26th, 2007, 05:57	#4
ChocolatNY Wandering Gypsy Join Date: Nov 2007 Location: NYC Posts: 170	i know paying guest facilities go for around 6000 per month, but it sounds like you want your own place, that would be expensive i think. are you amenable to having a roommate? i have friends who rent out apartments in bangalore, i can find out what the going rate is. also, you do know that most places require a deposit of 11 months rent in advance??.. i think that's crazy but that's what i've been hearing..

Nov 26th, 2007, 06:58	#5
tecolote Member Join Date: Apr 2007 Location: Bangalore Posts: 21	Thanks for the info, ChocolatNY. I would prefer to have my own place but am not sure I can comfortably afford that given the high rents in Bangalore. I'm willing to consider having a roommate if it turns out to be a better option. I've heard of the huge deposit that is often required, and am a bit worried. How does it work? Does it immediately go towards rent or is it held as a sort of damage deposit and returned when the renter moves out? I'm really hoping it's the former as the latter leaves one open to all kinds of shenanigans, at least if Bangalore is anything like Canada. ;-) I'd love to hear examples of going rates for 1 or 2 bedroom apts. I guess what I'm looking for is a "mid-market" neighbourhood that has convenient shopping for groceries and other necessities and maybe a few restaurants. I've been told areas like Fraser Town or Cox Town might fit the bill.

Nov 26th, 2007, 08:49	#6
capt_mahajan (in charge of navel affairs) Join Date: Sep 2005 Location: India Posts: 10,105	On transferring money abroad, there are rules restriciting who can transfer how much. Though the amounts have become larger over the years (even a resident Indian can transfer upto 200000 USD for investment purposes, annually), do check the rules as they apply to you, in Bangalore This article pertains mainly to residents, but still.. http://economictimes.indiatimes.com/...ow/2477419.cms

Nov 26th, 2007, 11:43	#8
tecolote Member Join Date: Apr 2007 Location: Bangalore Posts: 21	This is encouraging - it looks like there are several affordable options reasonably close to the office. Thanks so much for the rent info; essential for budget planning!

Nov 26th, 2007, 12:28	#9
jyoti gori ferungi ladki Join Date: Feb 2005 Location: Bangalore, usually Posts: 249	I am living in Bangalore, PG, on about 15,000 Rs per month. Granted, I'm doing volunteer work/research, so pretty low level income and living in PG (5,000/month), but 51,000 should be more than sufficient, minus whatever you need for bills back home. Kind of depends on your level of living. Cox Town/Frazier Town/Cooke Town are not too far from MG Road and are nice, quiet areas (and safe). A 2BR apt here is about 13,000, tho. Not many 1 BR since it's a more residential/family area. South of MG Road where more IT people live is better for finding a roommate or a 1 BR set up, I believe.

Nov 26th, 2007, 12:30	#10
ChocolatNY Wandering Gypsy Join Date: Nov 2007 Location: NYC Posts: 170	jyoti, is that 5k or 15k?? i know PGs are available for 6k with brekkie and dinner..

Nov 26th, 2007, 12:40	#11
jyoti gori ferungi ladki Join Date: Feb 2005 Location: Bangalore, usually Posts: 249	5K. My total living expenses is about 15K. I have breakfast and dinner, but that's because she's a friend of a friend. Normally she would charge extra for that. That is for my own room, not sharing as some PG are, and being able to come and go as needed (which some PG do not allow).

Nov 26th, 2007, 12:42	#12
ChocolatNY Wandering Gypsy Join Date: Nov 2007 Location: NYC Posts: 170	nice! do you have internet access/broadband at your PG?

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Nov 26th, 2007, 12:45	#13
jyoti gori ferungi ladki Join Date: Feb 2005 Location: Bangalore, usually Posts: 249	Nope. Long story. Just moved in, going to get a USB modem. I have seen signs for places with internet access, tho. It's just me renting, and the aunty doesn't really "get" what internet is for, so she doens't have. Being on a non-resident visa creates some issues for signing up myself.

Nov 26th, 2007, 13:09	#14
ChocolatNY Wandering Gypsy Join Date: Nov 2007 Location: NYC Posts: 170	try telling her she can get more money if she invests in broadband/wireless!

Nov 30th, 2007, 08:53	#15
tecolote Member Join Date: Apr 2007 Location: Bangalore Posts: 21	I'm back with more questions. After receiving some excellent advice on this board, I've managed to come up with a budget that has left me a little worried. After factoring in payments in Canadian dollars for student loan payments, storage space rental, international bank transfers, and a monthly rent of INR 15,000, it seems I will be left with INR 13,500 per month for everything else. I know Bangalore is an expensive city - will this be enough to get by? I will have money to cover about six months of loan payments, but that still leaves six months with the above budget... I don't have an extravagant lifestyle here in Montreal, so I'm not expecting to have that in Bangalore, either. I would just like to be able to do a bit of travelling around, go out with friends occasionally and buy a few things if I need them (or really, really want them enough to cart them back home). I know that people get by on much less, but that amount seems rather small. Since I've only been there as a tourist with Canadian dollars, I really don't know how far that would go as a resident.