Mumbai is often called the city of dreams. From Bollywood and sports to academics, and finance, this city provides its people with almost everything. The city is blessed with every kind of environment anyone would want to spend time in and hence, everyone has a reserved spot for themselves in some corner of the city. While the city has immense poverty, with people living in Asia’s biggest slums situated here, it is also home to 2,50,000 millionaires owning Bungalows.It is one of the most developed cities in India and is also the financial capital of the country. With the most growing population annually, this city has an increasing demand in every available sector, which has made living in Mumbai more expensive. However, if you are employed and earn a decent living, it is worth spending money on such a beautiful city which offers all the amenities, comfort and luxury.
The cost of living in Mumbai is not constant. It varies from place to place and from time to time. All those who live in Mumbai or dream to live in Mumbai deserve to know the cost of living in Mumbai. This article will help you with just that!
Property prices in Mumbai vary with differences in the kind of infrastructure, connectivity, demand, and supply in a given location. Mumbai’s properties are expensive. In fact, the most expensive in the country. Interestingly, Navi Mumbai which is a growing satellite city touching Mumbai has much lesser property rates than Mumbai, even with high-quality amenities and properties.
2) RENTING A HOUSE
Renting a flat is the biggest expense that you will incur while living in Mumbai. In Mumbai, the cost of renting a flat depends on the type of home and the kind of locality you choose. Couples, families, students, jobseekers, and almost everyone tends to rent a house here rather than buying one due to very high property costs.
Mumbai is home to some of the posh localities where famous celebrities and industrialists reside. These locations are much costlier than the rest of Mumbai. Some of the most expensive areas in Mumbai in terms of property rates are Peddar Road, Malabar Hill Mahalaxmi and Juhu.
The below list will give you a good estimate of rental prices in various localities. You can always choose a locality based on your budget and preferences. Due to the excellent public transport system that Mumbai has, it becomes easier for people to travel even if their place of work and home is far off.
|Localities||1 BHK||2 BHK||3 BHK|
|Goregaon||8k – 10k||23k – 30k||35k – 50k|
|Thane||10k – 12k||18k – 25k||35k – 65k|
|Navi Mumbai||5k – 12k||15k – 25k||20k – 30k|
|Kurla||12k – 20k||18k – 30k||28k – 40k|
|Sion||13k – 23k||25k – 40k||32k – 55k|
|Saki Naka||11k – 20k||18k – 32k||30k – 45k|
|Mulund||15k – 19k||22k – 34k||30k – 48k|
|Chembur||12k – 18k||21k – 27k||30k – 43k|
|Dahisar||10k – 15k||15k – 23k||18k – 30k|
|South Mumbai||30k – 40k||40k – 60k||60k – 1lac+|
|Andheri West||30k – 45k||40k – 50k||40k – 70k|
|Bandra West||35k – 43k||38k – 60k||55k – 90k|
|Jogeshwari (W)||23k – 30k||35k – 50k||40k – 65k|
|Worli||38k – 60k||55k – 90k||65k – 1lac|
|Juhu||45k – 55k||55k – 70k||65k – 80k|
|Dadar||27k – 39k||40k – 60k||50k – 70k|
|Parel||40k – 70k||60k – 95k||90k – 1lac+|
|Vile Parle||35k – 45k||50k – 75k||80k – 1lac|
|Powai||30k – 45k||45k – 60k||65k – 90k|
Affordable PG for students and bachelors
Your-space, with its four pillars of safety, comfort, community and health, respects and addresses the needs of students who study away from home, providing them with a comfortable living space nearest to their academic institutions. Keeping in mind the safety and comfort for students aged 16-25, Your-Space has set up its properties in various localities, providing them with not just a living-space but many more luxurious amenities.
|Vile Parle West||NMIMS, Mithibai College, and Kamla Raheja Institute||31,000|
|Vile Parle East||NMIMS, Mithibai college, and Kamla Raheja Institute||35,000|
|Andheri East||Pearl Academy, Raffles Design International, GEMS research labs||23,000|
|Malad East||Universal Academy||20,000|
|Parel||ISDI, ISME and St. Xaviers and Lala Lajpat Rai||27,000|
All your regular items such as milk, rice, wheat and bread are always available at MRP in any nearby kirana stores and supermarkets, which you can find in almost every locality of the city. Streets in Mumbai are also filled with a lot of local shops and vendors, so you should not find it hard to buy groceries here. All these items would cost you roughly Rs. 2000- 6000 depending on the number of people in your family.
If you are a working professional and don’t get much time to shop, you have an option to order your household necessities from online grocery stores like Bigbasket, Grofers and Natures Basket. These online portals deliver your grocery items right at your doorstep, at the requested time-slot. Also, these apps have plenty of offers for you, so buying groceries online is not at all expensive.
The next basic necessity for anyone after finding a roof is food.The best way to save your money on food is by cooking yourself. However, there is always an option to hire a cook/maid.
There are also several companies that provide part-time cook, full-time cook, full-time maid, part-time maid etc. Few of them are MaidWale, MyChores, and Helper4You. These services can cost you Rs. 1000 – 10,000 per month depending on the service you book.
If you are a working professional, who barely stays at home, another option for you is to look for a tiffin vaala, which can cost you anything between 2000-3000 per month.
On days when you feel too lazy to cook you can order from online food delivery apps such as zomato and swiggy which are just a click away.
Mumbai also has some excellent restaurants and local food joints.You can find all kinds of street food here from pav bhaji to vada pav which you must try at least once when in Mumbai.
The cost of electricity in Mumbai varies depending upon your consumption and location. Consumption per unit cost ranges from Rs. 3 – 150 every month. This means if you consume an average of 200 units, you pay at least Rs. 600 every month, and a minimum of Rs. 900 if you use an air-conditioner.
Telecom Regulatory Authority of India (TRAI) allows viewers to select the channels that they would want to watch and pay MRP for the respective channels. Cost of each channel ranges from Rs. 1 – 20 depending on the broadcasters of these channels.
You can also opt for Dish TV or Tata Sky and pay for the channels that you want.
If you are someone who is a big fan of OTT platforms, you can instead buy an amazon fire stick for your TV or your TV at a one time cost of 2500-4000 and binge watch Netflix and Prime on weekends.
Gas prices in India are usually revised on a monthly basis. Average cost of gas per month in Mumbai can be Rs. 590.
8) SCHOOLING AND CHILDCARE
Primary schools in Mumbai can cost you around 15000 – 1 lac monthly and high schools cost around Rs. 10000 – 1 lac+ depending on the curriculum and the locality of the school. Mumbai has a lot of well established CBSE, ICSE and State Board schools. You can pick one based on your budget and locality.
If you are a working professional, you can always take help from creche institutions such as Institute for Early Childhood Care and Education, Vivekananda Education Society’s Creche and Day Care Centre. Your average expense for these institutions could be anywhere between Rs. 3000 – 5000 per month. Some of these institutions also babysit children for specific hours, and the hourly fees can be Rs. 150 – 200.
There are baby-sitter services in Mumbai if you want to hire a nanny for your child rather than sending them out to institutions. Few of them are Child Care Babysitting, Little Peals Home Babysitting. Prices depend on the number of hours they do the service for you everyday. For 24 hours, they can charge roughly Rs. 15000, and Rs. 10000 for 8-10 hours.
Mumbai has an excellent local transport system, much better and cheaper than most big cities of India. Most of the people in Mumbai prefer public transport over private transport due to its well connectivity and cost effeciency.
Mumbai has one of the largest organised bus networks in India. Mumbai has regular as well as air-conditioned buses going to almost every gali.
The local bus services in Mumbai can cost you-
⦁ Up to 5 km: Non-AC Rs 5 | AC Rs 6
⦁ Up to 10 km: Non-AC Rs 10 | AC Rs 13
⦁ Up to 15 km: Non-AC Rs 15 | AC Rs 19
⦁ More than 15 km: Non-AC Rs 20 | AC Rs 25
Mumbai is also famous for its local train network, which actually saves you from traffic and is easy on your pockets. The network also provides monthly, quarterly or yearly passes for those who tend to travel to farther places every day. Local train tickets can cost you anywhere from Rs. 5 – 1000, depending on the kind of pass or ticket you buy. You can choose to travel either by first class or second class.The first class ticket is much more expensive than second class but the seats are more comfortable and you will see less crowd in these compartments.
The city is also developing its metro train service. The already opened metro train line runs from Versova – Ghatkopar, and has 12 stops in between. Two-way (return ticket) cost from Andheri to Ghatkopar is Rs. 70.The metro lines under construction are Dahisar-DN Nagar-Bandra-Mandale; South Mumbai-Colaba-Bandra-BKC Seepz Village; Wadala–Ghatkopar-Mulund–Thane–Kasarvadavali; Thane-Bhiwandi-Kalyan; Lokhandwala-Jogeshwari-Kanjurmarg; Andheri-CSIA and many more.
Besides these options, Mumbai taxis and autos are always a step away from wherever you are and cost you depending on the distance you travel. Autos charge a minimum fare of rs 18 and taxis charge a minimum fare of rs 22.Mumbai rickshaws and taxis run strictly on meter unlike other cities where citizens are asked to pay incorrect fares.
You can also book yourself an Uber/Ola if you are not a fan of public transport.
10) SPORTS AND LEISURE
Exercising in a gym with proper training can cost you roughly Rs. 800 – 5000 per month. Other extra-curricular activities like training in sports will not cost you more than Rs. 1000.
Mumbai also has many training centres for fitness and yoga like The Yoga House, 6262 Fitness, and Fitness Adda – Complete Women Fitness Studio. Fee structure of these is around Rs. 300 – 500 per class.
You can also make use of health and fitness apps like Cure.fit and Daily Yoga, which can cost you around Rs. 300 – 500 every month.
Spending time with family and friends on weekends is something everybody plans for. Every locality in Mumbai has a theatre nearby. This will also save your commute charges. Theatres in Mumbai cost you roughly Rs. 300 – 700, including the ticket prices and your take-aways in the interval.
Mumbai is the home of Bollywood and fashion. Mumbai has all the latest fashion outlets and stores. You can shop either on the streets such as Bandra Link Road and Colaba Causeway, or in any branded showrooms. Street shopping will charge you roughly around Rs. 2000 and this includes all the essentials that you might need on a trip. Buying the same things in a showroom can dig your pocket. Mumbai is also home to several big fashion designers who style the famous bollywood celebrities.You can buy excellent designer wear outfits in mumbai for both men and women which can cost you anywhere between 10000-1 lac.
FAQs ABOUT MUMBAI
1) What is the cost of living in Mumbai?
The average expenditures for bachelors living in Mumbai can be approximately Rs. 20,000 – 30,000 every month and that for couples can be Rs. 30,000 – 50,000. More the number of people more will be the needs and higher will be the expenses. For a family of four, living together, you might have to spend Rs. 60,000 – 1lac or more.
|Schooling and Childcare||40,000||—|
|Sports and Leisure||3,500||1,500|
The major expense in Mumbai is accommodation which forms a big chunk of your expenses. Apart from that, Mumbai is actually cheaper for food and transport compared to other Indian metro cities.
2) What salary is needed to live comfortably in Mumbai?
Depending on your lifestyle, anything between 40000- 80000 should be good enough to live comfortably in Mumbai.
3) Why is Mumbai so expensive?
The major reason why Mumbai is expensive is due to the high land costs. Residential and commercial spaces in Mumbai come at a high price.
4) Can I buy a house in Mumbai?
Yes, you can. But be ready to spend 1.5-2 cr. for a 2BHK apartment in Suburbs. For South Mumbai, this can go up to 5 cr.
5) What are some famous hangout places in Mumbai?
Hanging Garden, Juhu Beach, Link Road, Sanjay Gandhi National Park, Film City – these are some famous hangout places in Mumbai. You can read more here – 7 best hangout places in Mumbai.
6) What are some good colleges in Mumbai?
Mumbai has a plethora of colleges and Universities including some good ones such as IIT-Bombay, St Xaviers, NMIMS, Amity University, Jai Hind, KC etc.
7) What are some good PGs in Mumbai for students and bachelors?
Conclusion: Living in Mumbai may be expensive but once you settle down and explore, the city is much more than what you have dreamt of. The city is just a master of all trades, offering limitless opportunities for everyone in all sectors, which is why it is worth spending money in this city without any regrets.