Exploring the Cost of Living in Mumbai

Exploring the cost of living in Mumbai unveils various facets of expenses, catering to different lifestyles and needs. Whether you're a family, couple, student, or embracing a bachelor's lifestyle, our insights are tailored to navigate Mumbai's diverse financial landscape. Our comprehensive guide ensures that you can fully immerse yourself in the city's vibrancy without straining your finances.

What is the Cost of Living in Mumbai?

The cost of living in Mumbai is significantly higher, with rental properties ranging between Rs. 25,500 to Rs. 2.6 Lakh per month. Purchasing real estate in Mumbai is among the most expensive in India, with core area prices starting around Rs. 1.6 Crore for a one-bedroom apartment measuring 350 to 500 square feet.

Additionally, the cost of living in Mumbai is influenced by numerous factors. Expenses vary significantly among different demographics and neighbourhoods, catering to the unique needs and lifestyles of families, students, and individuals.

Guide to Cost of Living in Mumbai

Living expenses in Mumbai vary for families, couples, bachelors, and students, encompassing rent, household expenses, and daily costs, influenced by location and lifestyle. Below are the average monthly costs for each category:

For Family

For Couples

For Bachelors and Students

Factors Affecting Cost of Living in Mumbai

Cost of Food

Hiring a house cook, utilising tiffin delivery services, or dining out regularly greatly influences the cost of living in Mumbai. Hiring a cook can range from Rs. 1,500 to Rs. 11,000 per month, while tiffin services typically cost between Rs. 2,500 to Rs. 3,500. Dining at restaurants may set you back between Rs. 200 to Rs. 600 per meal. These expenses all contribute to the city's overall cost of living.

Cost of Housing and Real Estate

In Mumbai, the cost of housing, particularly in the western suburbs, is significant, with average rents ranging from Rs. 30,500 for 1 BHK to Rs. 80,500 for 3 BHK. Property prices vary greatly depending on configuration, with 1 BHK apartment averaging Rs. 1.6 Crore and 3 BHK apartments averaging Rs. 4.5 Crore.

Cost of Renting a House

Renting a flat in Mumbai is the most significant expense, often accounting for entire salaries. The rent varies depending on the type of home and the location. Due to high property prices, living on rent is preferable, especially in affluent areas like Goregaon and Navi Mumbai.

Cost of Transportation

Mumbai boasts one of the most extensive bus networks in the country, alongside readily accessible taxis, cabs, and auto-rickshaws. The costs for each mode of transportation vary: Non-AC buses range from Rs. 10 to 20, AC buses from Rs. 10 to 30, local trains from Rs. 15 to 50, taxis at Rs. 30 per kilometre, and car rides also at Rs. 30 per kilometre.

Cost of Groceries

Grocery prices in Mumbai are consistent across most neighbourhoods, with numerous stores selling items at consistent MRPs. The following are the average monthly grocery costs for different household sizes in Mumbai: Single: Rs. 5,000 to Rs. 6,500; Couple: Rs. 7,500 to Rs. 10,500; Family: Rs. 13,500 to Rs. 24,000.

Cost of Electricity

Depending on your location, one unit of electricity in Mumbai can cost between Rs. 3 to Rs. 9.8. Some people prefer to ask their landlord about the rates and conduct research for confirmation before moving.

Cost of Schooling and Childcare

School and childcare expenses pose a substantial burden for younger children. Fees for primary and secondary education typically range from Rs. 15,500 to 100,000 per annum. Daycare services can cost between Rs. 3,500 to Rs. 6,000 per month, while babysitters charge hourly rates ranging from Rs. 300 to Rs. 2,500.

Cost of Sports Leisure Shopping and Entertainment

Mumbai offers top-notch fitness studios and cinemas, with gym memberships ranging from Rs. 900 to Rs. 6,000 per month. Yoga classes and movie tickets typically fall between Rs. 400 to Rs. 900. Shopping expenses vary, with street markets costing between Rs. 1,250 and 6,500 and boutiques ranging from Rs. 15,500 to Rs. 1,00,000. Cable TV subscriptions range from Rs. 400 to Rs. 600 per month. These expenditures significantly contribute to the overall cost of living in Mumbai.

Cost of Healthcare

Several factors influence healthcare costs in Mumbai, including medical inflation, the quality of facilities, insurance coverage, government policies, pharmaceutical expenses, healthcare provider fees, and public health initiatives. According to a citizen survey conducted by the NGO Praja Foundation, the annual healthcare cost averages Rs. 48,421.

Pros and Cons of Living in Mumbai

Here are some points that highlight the pros and cons of living in Mumbai.

Conclusion

What is the cost of living in Mumbai? Living expenses in Mumbai are notably high, with rental properties ranging from Rs 25,500 to Rs 2.6 lakh per month. Real estate purchases in Mumbai are among the most expensive in the country, with prices starting at Rs 1.6 crore for a one-bedroom apartment in core areas.

Guide to cost of living in Mumbai

Living expenses in Mumbai fluctuate based on whether you're a family, couple, bachelor, or student, covering rent, household expenditures, and daily outlays, which are influenced by location and lifestyle.

Factors affecting the cost of living in Mumbai

• Cost of food
• Cost of housing and real estate
• Cost of transportation
• Cost of groceries
• Cost of electricity
• Cost of schooling and childcare
• Cost of sports, leisure shopping, and entertainment
• Cost of healthcare

Pros and cons of living in Mumbai

Living in Mumbai offers plentiful economic opportunities, a rich cultural tapestry, extensive public transportation networks, vibrant entertainment options, and access to top-tier healthcare facilities. However, it is accompanied by steep living expenses, sweltering and humid weather conditions, congested streets, limited space, and the risk of monsoon-related flooding.