IIT Kharagpur alumnus breaks down family of 4's cost of living in a metro city: ' ₹20 lakh per year'

IIT Kharagpur alum’s post has sparked a debate on X, with many saying that ‘ ₹20 lakh a year’ is sufficient for a family of four in a metro city.

Many people live in metropolitan cities due to the job opportunities and the promise of a better quality of life. However, living in metro cities comes with a caveat— living costs are significantly higher than in other regions. An alumnus of IIT Kharagpur recently shared a breakdown of expenses for a family of four in a metro city on X. His post has sparked a debate, with many opposing his opinion that ‘ ₹20 lakh a year’ is necessary for a family of four without factoring in any luxury expenses.

The image shows IIT Kharagpur alum Pritesh Kakani and the breakdown of expenses he shared on X. (X/@pritesh_kakani)

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“The expense for a Family of four in a metro city in India is 20 lakh per year. No luxury expense is added,” wrote Pritesh Kakani on X. He also attached a screenshot of an Excel sheet with monthly and yearly expenses.

According to the screenshot, the annual rent or EMI costs Rs. 4,20,000, school fee for a child costs Rs. 4,00,000, food costs Rs. 1,20,000, a trip to Asia or anywhere in India costs Rs. 1,50,000, among other expenses.

Here is a breakdown of the expenses for a family of four living in a metropolitan city in India:

The post was shared on April 14 on X. It has since then garnered more than 8.3 lakh views and the numbers are still increasing. Many even contested his assertion that ₹20 lakh a year is needed for a family of four to live in a metro city.

Check out how people reacted to the post here:

“You are bang on. It is the minimum, I guess,” posted an individual.

Another added, “I never knew dogs and cars were necessities. If you don’t own a home, you should not buy a car on EMI. Personal Finance 101.” To this, Kakani replied, “Car is a necessity in Indian metro cities. Dog expenses are just 6K every year; ignore them. Owning a home is a long process; one cannot postpone a car for it.”

“I thought travel, dog expenses and OTTs were parts of luxury,” expressed a third. Kakani replied, “Travel is a necessity after marriage. Dog (expense) is just 6k, ignore it. OTT+movie is just 1k per month, you can ignore it as well.”

A fourth commented, “We live in a metro city i.e. Mumbai. Family of 4 on yearly money of seven lakh, including everything. I don't have a car. It depends on what you choose. I can say spending 20L per year covers a luxurious life, contradicting your tweet.”

To this, Kakani replied, “Mumbai rent itself is 40K per month. How come you are managing in seven lakh?”