Why would you think that? The top universities in places like India and China get their positions mainly by selecting the brightest students, they don’t actually throw a lot resources their way, and these students are often paying their living expenses themselves or with a small stipend or subsidy.
No, I know multiple people who presently live there and have lived there in the past.
This is also one of the richest universities of India- not merely one of the best.
I also heard of someone who studied medicine at AIIMS Delhi. It is another of rich institutions of India. The rooms, although small, will match a 3 star hotel in terms of amenities. The same is simply not true for IISc. Despite being one of the richest unis of India, their amenities do not match that of AIIMS Delhi.
But that institute is not cash-sterved as Indian institutes go. The labs are great, the faculties are the same. Many of them can easily teach at any US uni.
What I think is the reason of absence of ACs in rooms is the Bangalore weather.
During most of the year, you really don't need an AC or even a ceiling fan.
Nah, you have to be at the very top spots of standardized tests for admission at each level.
At undergrad level, there is the BS (Research) programme, where you get through the KVPY exam, a specialised test for HS seniors for entry to this school only. (You can look up papers if you want)
Then, for entry to grad school, you have to rank near the top (~200 , ~60-100 for AI) among 100k (for CS paper candidates). And then you have to pass rigorous technical, and personality interview(s).
So, they take in the best students.
This institute always ranks the highest in internal rankings.
The labs are top-notch, the uni is cash-rich, and the faculty is as good as US unis (maybe not Stanford, Ivies, etc.).
I know multiple people who went there and/or still lives there.
I hear only good things.
But, yes, the people who are opting for grad schools after a 4 year CS degree are almost always from upper middle class and rich families (studies in India are almost always funded by parents unless you were already earning in a full-time job).
So, yes, the populace you would find there are almost all from affluent families, but there are some people from financially challenged families, too.
The undergrad exams are very hard and you can appear only once. I blew my one chance because I had severe typhoid at the time of the exam!
Now, if my plans to get into a grad school in North America / EU does not pan out, IISc is right at the top of my choice list in India.