Mumbai is India’s commercial capital. It is also known as the “Never Sleeping City.” Mumbai is the ideal blend of culture, customs, and way of life. Mumbai is India’s most cosmopolitan metropolis, its financial powerhouse, and the hub of the country’s fashion sector. During the early twentieth century, it became a stronghold for the Indian independence movement.
Mumbai is known as the “City of Dreams.” This city has practically everything for its residents, from Bollywood and sports to academics and finance. The city is endowed with every type of environment that anyone would like to spend time in, and as a result, everyone has a designated spot for themselves in some corner of the city. While the city is impoverished, with people living in Asia’s largest slums, it is also home to 2,50,000 millionaires who own Bungalows. It is one of India’s most developed cities, as well as the country’s financial hub. With the fastest-growing population in the world, this city’s demand in every available industry is expanding, making living in Mumbai more expensive.
However, if you are employed and earn a good livelihood, it is worthwhile to spend money on such a lovely city that provides all conveniences, comfort, and elegance. This post will tell you how much it costs to live in this lovely city.
Property prices in Mumbai fluctuate according to the type of infrastructure, connection, demand, and supply in a particular location. Property in Mumbai is exorbitantly priced. Indeed, it is the most expensive city in the country. Surprisingly, Navi Mumbai, a booming satellite city adjacent to Mumbai, offers substantially lower property rates than Mumbai, while having high-quality amenities and homes.
Renting a House
Renting a flat is the most expensive expense you will face when living in Mumbai. The cost of renting a flat in Mumbai is determined by the type of residence and the neighborhood. Couples, families, students, job seekers, and practically everyone prefer to rent rather than buy a home here due to extremely high property prices.
The list below will give you a decent idea of rental pricing in various areas. You may always select a neighborhood based on your budget and preferences. Because of Mumbai’s great public transportation infrastructure, people may travel even if their places of work and home are far apart.
|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|
Some of Mumbai’s upscale neighborhoods are home to notable celebrities and businesspeople. These areas are significantly more expensive than the rest of Mumbai. In terms of property prices, Peddar Road, Malabar Hill Mahalaxmi, and Juhu are among the most expensive neighbourhoods in Mumbai.
Affordably Priced PG for Students and Graduates
Your-space, with its four pillars of safety, comfort, community, and health, respects and answers the needs of students who study away from home by providing a suitable living place close to their academic institutions. Keeping in mind the safety and comfort of students aged 16 to 25, Your-Space has established properties in several areas, offering them not only a living space but also a variety of excellent 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|
Milk, rice, wheat, and bread are always available at MRP in any neighboring Kirana store or supermarket, which may be found in practically any neighborhood of the city. Mumbai’s streets are also teeming with local businesses and vendors, so you should have no trouble finding groceries here. All of these products would cost you between Rs. 2000 and Rs. 6000, depending on the size of your household.
If you are a working professional with little time to shop, you can order your household supplies from online grocery retailers such as Bigbasket, Grofers, and Natures Basket. These online grocery delivery services bring your groceries straight to your door at the time you specify. Furthermore, these applications feature a plethora of offers for you, so purchasing groceries online is not at all expensive.
After finding a roof, the next essential need for anyone is food.
Cooking for oneself is the most cost-effective approach to saving money on food. There is, however, the option of hiring a cook/maid.
There are also companies that offer part-time cooks, full-time cooks, full-time maids, part-time maids, and so on. Midvale, MyChores, and Helper4You are a few examples. Depending on the service, these fees can range from Rs. 1000 to Rs. 10,000 every month.
If you are a working professional who rarely stays at home, another alternative is to look for a tiffin Provider, which can cost between 2000 and 3000 per month.
On days when you don’t feel like cooking, you can order from online meal delivery applications like zomato and swiggy, which are only a click away.
There are also several amazing eateries and local cuisine places in Mumbai.
You can get everything from pav bhaji to vada pav here, which you should try at least once while in Mumbai.
Electricity prices in Mumbai vary according to consumption and location. Every month, the cost of consumption per unit ranges between Rs. 3 and Rs. 150. This means that if you utilize an average of 200 units per month, you must pay at least Rs. 600 per month, and Rs. 900 if you use an air conditioner.
The Telecom Regulatory Authority of India (TRAI) lets consumers choose which channels they want to watch and pay the MRP for those channels. The cost of each channel varies between Rs. 1 and Rs. 20, depending on the broadcasters.
You can also choose Dish TV or Tata Sky and pay only for the channels you desire.
If you’re a big lover of OTT platforms, you may instead get an Amazon Fire Stick for your TV or your TV for a one-time fee of Rs. 2500-4000 and binge-watch Netflix and Prime on weekends.
Gas prices in India are often updated monthly. The average monthly cost of gas in Mumbai is Rs. 590.
Childcare and Schooling
Primary schools in Mumbai can cost between Rs. 15000 and Rs. 1 lac per month, while high schools can cost between Rs. 10000 and Rs. 1 lac+ per month, depending on the curriculum and location of the institution. There are numerous well-established CBSE, ICSE, and State Board schools in Mumbai. Choose one based on your budget and location.
If you are a working professional, creche institutes such as the Institute for Early Childhood Care and Education and the Vivekananda Education Society’s Creche and Day Care Centre can assist you. The typical monthly cost for these institutions could range between Rs. 3000 and Rs. 5000. Some of these establishments offer to babysit children for particular hours, with hourly prices ranging from Rs. 150 to 200.
If you choose to employ a nanny for your child rather than sending them to institutions, there are babysitter services in Mumbai. Child Care Babysitting and Little Peals Home Babysitting are two examples. Prices are determined by the number of hours they provide the service for you each day. They can charge around Rs. 15000 for 24 hours and Rs. 10000 for 8-10 hours.
Mumbai boasts an excellent local transportation system that is far superior and less expensive than that of the majority of India’s major cities. Because of its well-connectedness and low cost, public transportation is preferred by the majority of Mumbai residents over private transportation.
Mumbai boasts one of India’s most extensive organized bus networks. Almost every Lane in Mumbai has regular and air-conditioned buses.
Local bus services in Mumbai can cost as much as-
- 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 particularly well-known for its local train network, which both saves time and money. For people who go to distant locations on a regular basis, the network offers monthly, quarterly, or yearly passes. Local train tickets can range from Rs. 5 to Rs. 1000, depending on the type of pass or ticket purchased. You have the option of travelling first or second class. The first class ticket is significantly more expensive than the second class ticket, but the seats are more comfortable and there are less people in these compartments.
In addition, the city is expanding its metro train service. The already operational metro train route connects Versova and Ghatkopar, with 12 stops in between. The cost of a two-way (return) ticket from Andheri to Ghatkopar is Rs. 70. Other metro lines under development are Dahisar-DN Nagar-Bandra-Mandale; South Mumbai-Colaba-Bandra-BKC Seepz Village; Wadala–Ghatkopar–Mulund–Thane–Kasarvadavali; Thane-Bhiwandi-Kalyan; Lokhandwala-Jo.
Aside from these possibilities, Mumbai cabs and automobiles are always a step away from wherever you are and cost based on the distance traveled. Taxis have a minimum fare of Rs. 22 and autos have a minimum fare of Rs 18. In contrast to other cities where individuals are requested to pay wrong fares, Mumbai rickshaws and taxis strictly operate on a meter.
If you’re not a lover of public transportation, you can also schedule an Uber/Ola ride.
Sports and Entertainment
Exercising in a gym with proper training can cost you anywhere between Rs. 800 and Rs. 5000 per month. Other extracurricular activities, such as sports training, will not cost you more than Rs. 1000.
There are also several fitness and yoga training centers in Mumbai, such as The Yoga House, 6262 Fitness, and Fitness Adda – Complete Women Fitness Studio. The fee structure for these classes is between Rs. 300 and Rs. 500 each class.
You may also use health and fitness applications like Cure. fit and Daily Yoga, which cost between Rs. 300 and 500 per month.
Everyone looks forward to spending time with family and friends on weekends. Every neighborhood in Mumbai has a theatre. This will also save you money on commuting. Theatres in Mumbai cost between Rs. 300 and Rs. 700, including ticket charges and intermission takeaways.
Mumbai is the birthplace of both Bollywood and fashion. Mumbai is home to the most up-to-date fashion retailers and stores. You can shop on the streets like Bandra Link Road and Colaba Causeway, or at branded showrooms. Street shopping will cost you around Rs. 2000 and will include all of the things that you will need on your trip. Purchasing identical items in a showroom can be costly. Mumbai is also home to several major fashion designers who dress Bollywood’s most recognized stars. Excellent designer wear clothes for both men and women may be purchased in Mumbai for anywhere from 10000 and 1 lac.
What Kind of Salary Is Required to Live Comfortably In Mumbai?
Depending on your way of life, anywhere between 40000 and 80000 should be sufficient to live comfortably in Mumbai.
Why Is Mumbai So Pricey?
The high cost of land is the primary reason Mumbai is so costly. Residential and business space in Mumbai is expensive.
Living in Mumbai may be expensive, but once you settle in and start exploring, you will discover that the city is much more than you could have imagined. The city is simply a jack of all crafts, providing endless prospects for everyone in all industries, which is why it is worthwhile to spend money in this city without regret.