Considering moving to Mumbai, the city of dreams, odds are that you are worried about the cost of living. Not without reason. Mercer’s 2020 Cost of Living Survey pegs Mumbai as the 19th most expensive city in Asia and 60th among the world. While the cost of living in a city also has a lot to do with your lifestyle, here are some handy benchmarks on the average cost of living in Mumbai. If you are looking for an average cost of living in Mumbai, you will find your answers here.
Cost of living in Mumbai for a Bachelor/Student
Accommodation
As a bachelor, you can either opt to live on your own or share a co-living space. The significant advantage with co-living spaces is that most of the amenities are included in the cost, and you would not have to pay for sundry expenses such as electricity or wi-fi. An average co-living facility should be available at an average cost of ₹ 20,000 per bed. However, you can expect it to go up to ₹ 25,000-30,000 with meal facilities! Should you choose to rent a home on your own, the cost will depend on the area you choose. Here is an overview of rentals of some affordable localities in Mumbai:
*All amounts in Rupees
| Areas | 1 BHK* | 2 BHK* | 3 BHK* |
|---|---|---|---|
| Goregaon | 8K – 10K | 23K – 30K | 35K – 50K |
| Thane | 10K – 12K | 18K – 25K | 35K – 65K |
| Navi Mumbai | 7K – 12K | 15K – 25K | 20K – 30K |
| Mulund | 15K – 20K | 22K – 35K | 30K – 45K |
| Chembur | 12K – 18K | 21K – 28K | 30K – 45K |
If you are opting for an independent living option, in addition to the rent. In that case, you will need to budget at least ₹10,000 per month for other utility expenses such as maintenance, electricity and Wi-Fi.
Food
Want to save on food expenses? Rein your inner chef or hire a maid. You could be looking at anything between ₹2,000 for part-time help to ₹15,000 for full-time help. If setting up a kitchen does not feature in your scheme of things, opt for the tiffin service. That way, you could be looking at a monthly expenditure of ₹3000-4000 per month.
Transportation
In addition to the above, the one other head that you will need to budget for is transportation costs. The average fare for non-a/c buses is a minimum of Rs 8 for 2 Kms. Should you choose to commute by auto, you could be looking at an average of ₹18 for a distance of 1.6Kms. However, the good news is that you can also opt for a monthly pass on the well-connected local train network that will turn out to be far more economical. A second-class monthly season pass between Churchgate and Virar costs ₹280.
Entertainment
Mumbai is a hub of pubs and exciting eateries with live bands playing all through the night and much more. A night out with friends can cost you anywhere from ₹4,000-6,000. So, it’s also essential to keep your budget ready for entertainment.
Cost of living in Mumbai for a family of 4
Accommodation
Renting a home is a better option than investing when you are new to a city. The average rental for a 2BHK apartment in the Mumbai suburbs can cost you ₹40,000-50,000 per month, but if you plan to buy a 2BHK apartment in Mumbai, you need to shell out around ₹ 2.5 crores- 4.5 crores. Localities like Malabar hills, Juhu, and Peddar road should be on your list. Choose a locality based on the budget to maintain expenses effectively. If you are a family of three with a toddler, you can consider renting a 1BHK apartment to save on your costs with a toddler. The choice is yours!
Household Expenses
Household expenses include food, maintenance, maid salary, electricity, Wi-fi, lifestyle expenses, and more. You could be looking at an average of ₹25,000-30,000 a month. If you are working and have a young child, you will have to spend on full-time daycare or nannies for childcare services. This may cost you around Rs 15,000-20,000 per month, depending upon the services’ quality. A reputed primary school in Mumbai will cost you around Rs 1.5 lakhs – Rs 4 lakhs per year.
Transportation
If you use a private vehicle for commuting, you may want to add an average of ₹5,000-6,000 for fuel, depending on your travel distance. Parking charges are an added expense if your office or society does not have free parking. If you plan to use the public transport service in Mumbai, you have plenty of options. You can opt for a bus, local train or cab services. For a fact, 88% of commuters in Mumbai use public transport as Mumbai has a vast & efficient range of public transport facilities.
Entertainment
A well-spent evening at Marine drive or Chowpatty can cost you around Rs. 500 per person. Mumbai is a city that never sleeps, and the fun never stops! You could be looking at ₹3,000-₹5,000 for entertainment, which could mean an occasional movie and budget eating.
Cost of living in Mumbai for Couples
Accommodation
As a couple, it’s apparent that you will have lots of dreams for starting a new home. But we suggest you take it slow. You can opt for a 1 BHK in the suburbs of Mumbai, and if you feel there is a need for more space, move to a 2 BHK apartment later on. But if you can find your comfort in a 1 BHK apartment, you will save a lot of money. You can get a comfy & cosy 1 BHK at the cost of ₹30,000-60,000.
Household Expenses
The household expenses are totally based on your style of living. The usual cost will include maintenance charges, cook/maid salary, electricity and Wi-Fi bill, etc. This should be an average of ₹15,000-20,000. In case you want to cut it short and can manage, opt to maintain your home without the maid’s help. Such small things can help you build your base in the city of dreams.
Transportation
As mentioned above, Mumbai’s public transport is a preferred mode of the commute because it’s efficient and reliable. But if you use your vehicle, the fuel cost of around ₹5,000-7000 will be an added expense, depending upon the proximity of your home and work location.
Entertainment
Everyone needs time to unwind and relax. Mumbai’s Marine drive stroll with a hot Bhutta is a must-do with your loved one. Also, an occasional movie and date night can cost you somewhere around ₹ 4,000.
Is it worth living in Mumbai?
There is indeed no one-size-fits-all answer to that question. While it is inevitable that you will need a higher income here as opposed to other cities to enjoy a certain standard of living, the fact also is that Mumbai offers you an enhanced earning potential. So go ahead and give wings to your dreams!
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