What Is The Cost Of Living In Mumbai

What Is The Cost Of Living In Mumbai, Mumbai, the city of dreams is one of the most expensive cities in India with decent living experiences and upgraded lifestyle in the luxurious apartments in Mumbai. So, to understand and evaluate how much money or what is the cost of living in Mumbai is, let’s read this blog.

The cost of living in Mumbai or anywhere else is different for others. It differ for students, couples, families and bachelors as it depends upon one’s habit, type of home ownership and commuting patterns.

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What is the cost of living in Mumbai?

Cost of living in Mumbai

To approximately know about how much is the cost of living in Mumbai; various types of expenditure are calculated that a family has to bear to live in the city.

This blog is based on the evaluation of cost of buying a home in Mumbai or renting, commuting, cost of food, electricity bill, internet expenses, school fees, car fuel and bare minimum cost of buying fruits and vegetables for survival.

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Type of expense------------------------------------ Average cost

Meal for two, in an average restaurant---------- Rs 1,500

Monthly pass for local transport-------------------- Rs 400

Taxi fare (per km)---------------------------------------- Rs 22

Car fuel----------------------------------------------------Rs 79

Electricity bill (basic utility- electricity, cooling, heating) for an 850-sq ft apartment-------------------------------------------------Rs 3,800

Broadband (average speed of 60 MBPS)-----------------Rs 750

Monthly gym membership--------------------------------Rs 2,000

Monthly school fee (primary)---------------------------Rs 2,500 – Rs 15,000

Rent of 1BHK-------------------------------------------Rs 25,000 – Rs 35,000

Cost of 1BHK----------------------------------------Rs 1.5 crores – Rs 2 crores

Fruit (1kg)--------------------------------------------------Rs 150

Vegetables (Potato, onion, lettuce)----------------------Rs 100

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• Cost of living in Mumbai for bachelors

Bachelors can adjust for a little less and save money. But still there are some fixed expenditures that has to be incurred. For a bachelor one can opt for co-living spaces to share the expenses that will cost around Rs 10,000-20,000 per bed, depending upon the facilities available and location. Along with meal it may go up to Rs 30,000 per month also.

Average rent for bachelors---------------------Rs 10,000 – Rs 20,000 per month

Household cost---------------------------------------Rs 5,000 per month

Transportation cost---------------------------------Rs 300 – Rs 700 per month

Lifestyle cost---------------------------------------Rs 2,000 – Rs 4,000 per month

Read Also: What is the Cost Of Living In Bangalore? • Cost of living in Mumbai for a family with children

Family with children will obviously have a got monthly expenditures list. So, if you want to rent a 2 BHK apartment in Mumbai in suburbs it will cost you almost around Rs. 40,000-50,000 per month. Isn’t it Expensive? Yes, it is.

On the other hand, the two popular localities of Mumbai Thane and Navi Mumbai where property prices are affordable but commuting will costlier. Thus, if you want to buy a 2BHK apartment in Mumbai in the western suburbs, you have to manage for at least Rs 2.5 crores. Other than that, there are various other costs involved like schooling fees, household, grocery, lifestyle and a lot more.

Average rent for family---------------------------Rs 40,000 – Rs 50,000 per month

Household cost-----------------------------------------Rs 25,000 per month

Transportation cost Up to-------------------------------Rs 20,000 per month

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• Cost of living in Mumbai for couples

A couple can easily live in a 1 BHK apartment in Mumbai and a rent for the same will be around Rs 30,000-60,000 per month, depending upon the property size, location, housing society, property type and amenities available. And if the couple thinks of buying a 1BHK property in Mumbai, it will cost you around Rs 80 lakhs – Rs 1.5 crores, depending upon several factors.

Average rent for family---------------------------Rs 30,000 – Rs 60,000 per month

Household cost-----------------------------------------Rs 15,000 per month

Transportation cost Up to-------------------------------Rs 20,000 per month

What is the Average salary in Mumbai?

The average salary in Mumbai depends totally on the skills, industry, position and location. According to sources, a social network for professionals, the average salary in Mumbai is Rs 4.4 lakhs per annum which can go up to Rs 8.5 lakhs also.

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Configuration------------------------------Average rent (in western suburbs)

1BHK ---------------------------------------------------Rs 30,000

2BHK----------------------------------------------------Rs 50,000

3BHK-----------------------------------------------------Rs 80,000

Configuration--------------------Average property price (in western suburbs)

1BHK---------------------------------------------------Rs 1.5 crores

2BHK---------------------------------------------------Rs 2.5 crores

3BHK-----------------------------------------------------Rs 4 crores

Average salary as per industry

Industry------------------------------------------------Average salary per annum

Finance----------------------------------------------------Rs 7.1 lakhs

Energy and mining----------------------------------------Rs 6.5 lakhs

Recreation and travel-------------------------------------Rs 6.3 lakhs

Entertainment----------------------------------------------Rs 6 lakhs

Transportation and logistics-------------------------------Rs 5.5 lakhs

Average salary as per field of study

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Field of study-----------------------------------------Average salary per annum

Civil engineering------------------------------------------------Rs 5.9 lakhs

Mathematics --------------------------------------------------Rs 5.8 lakhs

Electronics--------------------------------------------------------Rs 5.4 lakhs

Electrical engineering---------------------------------------------Rs 5.3 lakhs

Computer programming------------------------------------------Rs 5.2 lakhs

How is the Healthcare Facility in Mumbai?

MMR i.e. Mumbai Metropolitan stands at the fourth position with factors such as the number of beds, air quality and liveability. Though, overall the surveyed reports show that Mumbai is moderate in terms of healthcare facility. So, when you have a residential property in Mumbai you experience best to moderate facilities in all fields.

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Component of healthcare surveyed-------------------------------Satisfaction %

Skill and competency of medical staff-----------------------------72.36-------High

Speed in completing examination and reports--------------------71.57-------High

Equipment for modern diagnosis and treatment------------------73.23-------High

Accuracy and completeness in filling out reports-----------------71.22-------High

Friendliness and courtesy of the staff------------------------------64.06-------High

Satisfaction with responsiveness (waitings) in medical institutions-------53.98----------Moderate

Satisfaction with cost to you------------------------------------56.18-----Moderate

Convenience of location for you-----------------------------------73.85-------High

Do you think that Mumbai is a place worth living?

Mumbai as a living destination is amazing but is expensive as well. It also depends on your lifestyle and outlook you would attain. You deficiently need to earn higher here than in any other cities but it is also true that it has lots of opportunities. Being a city of dreams, it has a power of turning dreams into reality. The starting salaries are also comparatively higher than any other city.

Read Also:- Cost Of Living In Gurgaon- All The Details The properties in Mumbai offer a better quality of life, owing to more open spaces and greenery. In the end, everything depends on the job and the salary you are earning that let you afford a decent living in Mumbai.

List of affordable areas in Mumbai

For buying:

Area------------------------------------------Average property price (per sq ft)

Mira Road east------------------------------------------------Rs 8,521

Thane west----------------------------------------------------Rs 13,342

Ulwe-----------------------------------------------------------Rs 6,463

Virar west------------------------------------------------------Rs 5,502

Kharghar-------------------------------------------------------Rs 7,666

Dombivali east-------------------------------------------------Rs 6,163

Andheri west---------------------------------------------------Rs 24,045

Kalyan west-----------------------------------------------------Rs 6,892

Chembur--------------------------------------------------------Rs 22,936

Borivali west----------------------------------------------------Rs 21,712

Source: Housing.com

For renting: 

Area--------------------------------------------------------------Average rent

Thane west--------------------------------------------------------Rs 12,379

Andheri east-------------------------------------------------------Rs 24,701

Chembur-----------------------------------------------------------Rs 23,716

Andheri west-------------------------------------------------------Rs 29,054

Kharghar-----------------------------------------------------------Rs 10,293

List of posh areas in Mumbai

Area----------Average property price (per sq ft)-----Average rent per month

Malabar Hill------------------Rs 51,480---------------------------Rs 4.5 lakhs

Cuffe Parade-----------------Rs 48,750---------------------------Rs 3 lakhs

Tardeo-----------------------Rs 47,786----------------------------Rs 2.5 lakhs

Juhu--------------------------Rs 44,442---------------------------Rs 1.75 lakhs

Bandra west------------------Rs 42,691---------------------------Rs 95,000

Worli--------------------------Rs 37,013---------------------------Rs 80,000

FAQs

What is the average salary in Mumbai?

The average salary is Rs 9 lakhs per annum, which may vary as per experience, role and organisation.

What should be the minimum salary to live in Mumbai?

Depending upon the lifestyle, the average salary should be Rs 40,000 per month.

What salary is needed to live comfortably in Mumbai?

Depending upon the standard of living, your average salary should be Rs 40,000 - Rs 60,000 per month.

Is Mumbai expensive?

Mumbai is among the most expensive cities in Asia.

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