What Is The Cost Of Living In Mumbai
By Investoxpert | 26 Jun 2021 | Guide
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.
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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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