While it’s a little difficult to tell the exact cost of wedding in India, an average Indian wedding can cost anything between a few lakhs to crores. In fact, costs depend on various factors and in this article, we will tell about them that will help you figure out the estimated expenses.
- Venue An essential component of wedding, the choice of venue plays a crucial role. In case you are getting married in a deluxe of 5-star hotel, the costs will increase manifold. On the other hand, if you choose a place on the outskirts of the city, you can save on costs.
- Food Food occupies a lion’s share of wedding costs. The cost per plate depends on the items in the menu list. If you include any international cuisine, the costs can easily surpass above Rs. 1,000. On the other hand, if you go for desi cuisine, it can be restricted between Rs.700-800.
- Gifts and guests Indian weddings are incomplete without two Gs – gifts and guests. A significant portion of the expenses goes towards buying gifts and making arrangement for guests. Gifts include jewellery and clothes for the bride and groom among others, along with essentials as in the rituals.
Also, if you use in-house vendors of the venue for decoration and catering services, then there are chances of incurring higher expenses. However, if you work with your preferred vendors, then you can bring down the cost manifold.
If you outsource to a caterer, it’s a little expensive. On the other hand, if you choose your cook and provide the required ingredients for cooking, you can make significant savings. When you choose an external caterer, they will charge you for every plate picked.
To sum up
Proper budgeting and meticulous planning can not only help you keep your wedding costs low but also make the occasion memorable. It’s financially prudent to build a buffer for your marriage through deft investments in various financial instruments. A mix of fixed return instruments and equities will help you build a sizeable corpus for your wedding and ensure every expense is taken care of with ease.
Learn more about Mutual Funds for a good personal financial management.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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