Does it makes sense to be working from home in banglore

If your relationship with your parents isn't dysfunctional, move in with them for a couple of years and save money.

Otherwise, or another option rather is to consider some other small town where you can stay with very low costs. You can find hill stations that have better weather and water, and fresh fruits and vegetables. You no longer need to worry about the internet as 5G is available in many places and it is as good as fiber. I moved to a tier 2 city recently from Bangalore and have been using 5g for internet and it's as good as a fiber connection.

The only issue might be with power supply. You may need to invest in an inverter or generator. This will give you the best of both worlds.

Btw Which company ? Wanted to know as it’s remote…

You can get a house in the outskirts of Bangalore with good greenery and decent rent. You can get to visit office once in a while and explore the place with your wife on weekends.

Live in a city with decent infra and social circle. Could be hyderabad / pune

Or could do a hill station or even Mysuru. If open to international, consider Bali/Vietnam too. No amount of money will bring this time back. Your next job may not be remote

There's answer in the question itself brother.