Cost of Living in Mumbai - Part 2

After my last Article Cost of Living in Mumbai - Part 1, here is a continuation.Buying a property is whole different ballgame. Mumbai is a costly city to buy a house of your own and the costs can be a real strain on the budget. You can get a loan from any bank for the same but the present interest rate is bit too high although you can get a tax benefit.

The Chart above gives an idea about the prevailing property rates (Source Times of India).

And then there are service apartments available in Mumbai, the apartments are usually fully furnished with basic amenities and are usually equipped with a kitchen. For a short term stay they are an excellent option since you save money compared to the rent you would pay in a hotel and you can cook your own food. You can get a medium service apartment at the rate of 4500 INR per day to a good one at 15000 INR per day.

2. Eating Out – If you are the kind of person who likes to eat out a lot and try out the local cuisines then there are a lot options available in Mumbai. You could eat a normal Indian breakfast for as low as 15 INR with a cup of tea for 5 INR. Eating out in a medium sized road side restaurant could cost you from 150 INR per person to 400 INR per person. A good restaurant could put you back by 3000 INR for a dinner for two. It all depends on what you want to eat. You can buy a book called the Times Food Guide which comes for approx. 195 INR and has all the restaurants listed along with the cost of food for two people. Usually all good restaurants accept Credit cards. Eating out in a fast food joint for two could be as low as 160 INR for two. I am really tempted to list down a few famous budget places here to eat –

Moshes (located in Cuff Parade) – Serves Continental, Israeli and mid east style food. A Meal for two could be above 1000 INR.

Leopold ( Located in Colaba) – Although its not a very trendy place but everyone goes there atleast once. And the food is not costly either ( 400 INR for two)

Pasta & Pizzeria Area (Located in Churchgate) - Cost: Rs. 400-500 for two
Now this place has one of the most brilliant locations in Mumbai …bang on marine drive…

Cha Bar at Oxford Book stall Area (Located in Churchgate) - Its USP, read book sitting in good surroundings, sipping whatever kind of tea u want , reading a new pick from Oxford’s book collection.

Swati Snacks Area (Located in Tardeo Road) - Cost: Rs. 350-400 for two. This place is must visit atleast once in ur gastronomic pilgrimage

Café Madras (Located in Matunga) - Now this place has the best Dosas and idlis one can have and all this wont cost more than Rs. 100-150 for two…

Café Brittania (Located in Fort. & near Flora Fountain) - Now this is the place which if one goes by food only will realize still stands out for its Parsi Fare……

5 spices (Located in Fort. & near Flora Fountain) - Cost : Rs. 250-300 for two. Now this place is the ultimate definition of Economy + Quality + Quantity combo. This Chinese eatery might be considered a bit indianized but once u order and see the generous portions they serve and how it tastes….

Conversion Rate at the time of writing the blog -

1 USD = 49 INR
1 Euro = 70 INR

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