A recent survey by a New York-based human resources consulting firm has claimed that Chennai is the third most expensive city in India, after Mumbai and Delhi.
The Cost of Living Survey calculates the cost of living based on 200 items, which includes housing to transport. The survey was mainly to help multi-national companies decide salary levels when their employees are placed in other foreign countries, according to The New Indian Express.
According to the survey, Chennai is 158th in the global list. It was ranked 157 in 2015. “Chennai is the most expensive when it comes to clothing and footwear. And this category has seen an inflation of 4 per cent over last year,” Ruchika Pal, India practice leader, Global Mobility at Mercer told TNIE.
Moreover, the survey states that Chennai is just 5 per cent less costly as compared to Delhi. The survey also says that the cost of grocery, dairy and poultry products in Chennai is equivalent to that in Mumbai and Delhi.
The survey claims that house rentals have increased drastically in the last one year in Chennai. It has increased by 13 per cent, according to TNIE.
Bengaluru ranks behind Chennai, at 180 in the global list. It was at 183 in 2015.