Cost of Living in Mumbai - Part 1



Well after the article Cost of Living in Delhi, the next best thing would be to right about the Cost of living in Mumbai. The Living costs in Mumbai are certainly more as compared to the living cost in Delhi. Mumbai (Formerly Bombay) is the financial capital of India, hosting the headquarters of the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange, large Indian companies like Reliance, Tata Group, Godrej etc. Downtown South Mumbai is considered to be the nerve center of of the Indian economy. Mumbai is the capital of the State of Maharashtra.

Mumbai is also the hub of the entertainment industry of India, known as Bollywood (Hollywood of India). The epicenter of the Hindi Movie industry, its got all the major television, satellite networks and the production houses along with large studios. You could probably spot a filmstar or a television actor while walking through Mumbai.

First and foremost real estate –

1. Cost of Real Estate – Anytime Anywhere the largest cost factor for the living cost is the cost of the real estate, whether you are thinking of renting/leasing or just buying. realestatemumbai.com has put up the rates for renting of most of the localities on there website and probably you can go through it to get the rates.The range of costs is very extreme for a 2 BHK starting 5000 INR in Western Suburbs and Navi Mumbai to upto 250000 INR in South Mumbai. So actually depending on your preference of location you can either spend a lot and get the location preference or compromise on the location and actually get a cheap flat. Remember the traffic in Mumbai is horrible and the choice of your location should actually depend on two main factors your place of work and your children’s school. Since if either of you has to travel a lot through the traffic in Mumbai its going to get to your nerves. And also the rains actually sink some parts of Mumbai in water so be careful not to take a home in the ground floors. From the same website, I have taken the below costs for a 2 BHK –


South Mumbai

Colaba – 100000 to 200000 INR
Church gate – 75000 to 150000 INR
Opera House – 40000 to 70000 INR
Marine Drive – 65000 to 100000 INR


Western Suburbs

Bandra West – 60000 INR to 150000 INR
Andheri West – 25000 INR to 50000 INR
Goregoan West – 20000 INR to 35000 INR
Vasai – 10000 INR to 14000 INR
Virar – 5000 INR to 10000 INR

Central Mumbai

Byculla – 40000 INR to 70000 INR
Mahim – 45000 INR to 70000 INR
Sion – 35000 INR to 40000 INR
Wadala – 30000 INR to 50000 INR

Easter Suburbs

Chembur – 20000 INR to 40000 INR
Ghatkopar/Kurla – 20000 INR to 30000 INR
Powai/Vikhroli – 25000 INR to 35000 INR
Thane East/West – 12000 INR to 20000 INR

Navi Mumbai

Vashi – 15000 INR to 30000 INR
Belapur – 12000 INR to 20000 INR
Airoli – 15000 INR to 20000 INR

Apart from the monthly rent, the landlords in Mumbai prefer a large security deposit and sometimes even prefer to get 12 months advance rentals. If your company has a policy to lease the home in the companies name, it would be preferable that you do so through the company since you can negotiate better and also get a waiver on the advance rentals and hefty security deposits.

Conversion Rate at the time of writing the blog -

1 USD = 49 INR
1 Euro = 70 INR


Related Posts

Cost of Living in Delhi

Cost of Living in Mumbai - Part 2

Cost of Living in Mumbai - Last Part

How to make a family budget


10 comments:

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MumbaiAbout said...

Nice collection of articles on the cost of living in various indian cities.