People in Chennai would probably rub their eyes in disbelief to hear their city is one of the cheapest city on the planet to live in. A report by the Economist Intelligence Unit (EIU), part of The Economist Group, says that four Indian cities, including Chennai, are among the 10 cheapest places on the planet. While Bengaluru is ranked the third cheapest in the world, Chennai figures in sixth place followed by Mumbai and New Delhi in the seventh and tenth positions.
Almaty in Kazakhstan has been ranked the cheapest city in the world followed by Lagos in Nigeria. Singapore retained the title as the most expensive city for the fourth consecutive year. Affordable transportation, housing, and a multisectoral economy are the primary reasons that make Chennai a relatively cheap place to live. Within Asia, the best value for money has traditionally come from South Asian cities, particularly those in India and Pakistan, the report said.Half of the 10 cheapest locations surveyed are in this region, including Karachi which ranks 4th.
Source – The Times Of India