Yes, there are a lot of benefits to putting a child in daycare.
First, they will learn to respect other adults, besides their parents/ grandparents.
Secondly, they will learn from other children. They will be able to socialize, help each other, learn to appreciate others' differences; they will learn to wait their turn and how to be patient. They will learn there are consequences for their actions.
Not all daycares are equal, and just because one costs more, doesn't mean it's better. Evaluate all of your options, and find the one that works best for your family. Make sure you take a tour of the facility, meet the caregivers, and most importantly, you feel comfortable leaving your child in their care.