Why Financial Planning?

Planning is bringing the future into the present so that you can do something about it NOW.

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...

Best places to retire in India

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Best Places To Retire In India For NRIs

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.

Check – Why Should NRIs Save For Early Retirement

Best City 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

Pune is one of the best places to live India is also 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

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.

One of the cities 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

Best City To Retire In India
Best Places To Retire In India For NRIs

Must Check – Retirement planning india for NRI

Mumbai

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

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Bangalore

It has been the best place to retire 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

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Chandigarh

Chandigarh is the first planned city in India. It is very clean and well-connected by road, rail, and air to most locations in India. It has good infrastructure facilities. Also, NRI Can consider the best places to retire in India. 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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Ahmedabad

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?

Let’s work on your Retirement Plan

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…

Published on December 14, 2021

Hemant Beniwal


Hemant Beniwal is a CERTIFIED FINANCIAL PLANNER and his Company Ark Primary Advisors Pvt Ltd is registered as an Investment Adviser with SEBI. Hemant is also a member of the Financial Planning Association, U.S.A and registered as a life planner with Kinder Institute of Life Planning, U.S.A. He started his Financial Planning Practice in 2009 & is among the first generation of financial planners in India. He also authored Bestseller book "Financial Life Planning". 

  • This article is written by an Indian, for Indians, living in Southern India! The words, sentences, and abbreviations used are surely intended for people living in Coimbatore, I guess! INR for NRIs !!

  • I have no ties in Bharat and over 70+, need to know where is best place to retire, where their is good medical, pleasant weather and not to expensive. I believe in simple living and connecting with our maker Mahadev.
    Need some sincere information.

  • I grew up on a beach I like to retire very close to a beach I am 67 yes old. I would want a 2 bedroom villa. I was thinking Goa or Kerala. Not too hot for at least 4 months a year. Any suggestions?

  • Thanks Hemant for sharing, one should also consider tier-3 cities like Udaipur : friendly people, low crime, scenic places.

  • I have been to all of the places that are mentioned here. Personally I would take out Mumbai and Ahmedabad because they are over crowded and expensive for what they offer. I would also take out Bangalore and Coimbatore because of their crime rate. Pune and Chandigarh are only two left for selection. I would go for Pune.

  • Where do Indians living in India retire to? In the same place they have lived all their life. The NRIs may also come back to the same place they left to go abroad. So a list of cities to retire may not matter.

    If it does for some reason like the NRI is returning to India after a long stint abroad and they have no ties to their earlier hometown, then Mysore, Pondicherry, Goa, Nasik, Vizag, Trichy, Haridwar and a whole host of Tier 2 and 3 cities must get a look in. For obvious reasons.

  • Except for Coimbatore, none of the above Cities are liveable. All have high density population, high pollution and traffic congestion. I am unable to fathom how you are suggesting these Cities. Please scrap this list and rewrite after thorough research.

  • All the places you have mentioned are tire 1 cities and are all are most affected by Covid 19. Yes they may have the best facilities in the country but one do not need those facilities every day.
    I think it is better to select tire 2 cities or small towns close to big cities.

  • Hi Hemant,
    This is a very timely and informative article. My wife and I have started exploring options for a retirement home in India, and are considering Dehradun as an option. The outskirts of Dehradun may be attractive for retirees for many reasons: proximity to the mountains and pilgrimage centres being some… One aspect to keep in mind for NRIs, as you have advised elsewhere, is whether it’s financially and otherwise smart to purchase property for the twilight years, specially when one’s children and relations don’t live nearby or in India… With that in mind, options could be many more…

  • I think Dehradun should also find a mention in your list as it has been traditionally a well known place for settling down for persons in their twilight years. It has a moderate climate (a bit harsh winter) and boasts of good medical facilities. One big con is its traffic jams and growing congestion where the infrastructure growth has not kept pace with the ever growing population.

    • Thanks Munesh – it’s a nice place but I though settling in Himalaya is not easy due to property buying issues…
      Bw I booked a trip (before virus) to Dehradun, Masoori in June end 🙂

  • Dear Mr. Hemant,
    Good pick of the city choices. Instead of just throwing at random rent, milk, medical and a couple of other items, what is really valuable for NRIs like me is the real idea of a representative cost of living on cash basis for a month. Typically, this should include grocery, local transport, rent, communication and telecom costs, servant costs, society maintenance costs, normal medical and pehaps a few other regular items of exps. Moreover, you should give an idea of the inflation on an average basis over the next 20-25 years, being the average life expectancy when the person retires. Would appreciate if you can furnish these information in the form of an updated article…

      • Hello Hemant, you have indeed stepped on a great idea of educating the NRI , who do not really have much clue except few ,? The point yiu missed is , people,s prospective of NRI clan ? Namely treated with envy , eye balling , down talking with them , average conveyance costing more inflated , and over charges over medical issues by medical clinical staff ( DRS and consultants ) no normal behaviour on ligitimate complaints , Govt officers, offices treating NRI,s like criminals ??? Very inappropriate behaviour ( understanding people can be hard nuts to deal with) but you must emphasise the social problems too ?

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