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Cost of Living in Mumbai: An Expense Guide for 2023
Shiv Nanda
Feb 10 • 4 mins read

Cost of Living in Mumbai: An Expense Guide for 2023

4 mins read

Mumbai, the city of dreams, is one of the most expensive cities to live in India. The financial capital of the country is known for its fast-paced lifestyle, business opportunities, and entertainment options. However, with all the glitz and glamour comes a price, and that price is a high cost of living. The cost of living in Mumbai can be intimidating for those who are planning to settle in the city. From buying or renting a house to buying groceries and paying bills, everything in Mumbai comes at a premium. In this article, we’ll take a look at the various expenses that come with living in Mumbai, so you can be better prepared and plan accordingly.

  • Real Estate

    The cost of buying or renting a house in Mumbai is one of the biggest expenses you’ll face. The average cost of a 2BHK apartment in Mumbai ranges from 80 lakhs to 1.5 crores, depending on the location and amenities. On the other hand, the average rent for a 2BHK apartment in Mumbai is around 60,000 to 1.5 lakhs per month. The prices vary greatly depending on the location, with South Mumbai being the most expensive area to live in.

  • Household expenses

    Household expenses in Mumbai are higher than in other cities in India. Basic household items like food, cleaning supplies, and personal care products are all more expensive in Mumbai. On average, a family of four in Mumbai can expect to spend around 25,000 to 35,000 rupees per month on household expenses.

  • Transportation cost

    Transportation is one of the biggest expenses in Mumbai, with the city’s public transportation system being one of the busiest in the world. A monthly pass for the local train, which is the primary mode of transportation for Mumbaikars, costs around 1,500 rupees. A taxi ride within the city can cost anywhere from 200 to 500 rupees, depending on the distance and time of day.

  • Food (including Groceries)

    The cost of food in Mumbai is higher than in other cities in India. Eating out at a restaurant can cost anywhere from 200 to 1,000 rupees per person, depending on the type of restaurant and the location. Groceries, on the other hand, can cost anywhere from 10,000 to 15,000 rupees per month for a family of four.

  • Utilities

    Utilities in Mumbai, such as electricity, water, and gas, can add up quickly. On average, a family of four can expect to pay around 5,000 to 7,000 rupees per month for utilities.

  • Shopping

    Shopping in Mumbai is an experience like no other. From street markets to high-end malls, the city has it all. However, shopping in Mumbai can be expensive, with even basic items like clothing and electronics costing more than in other cities in India.

  • Entertainment

    Entertainment in Mumbai is diverse and exciting, but it can also be expensive. A movie ticket in Mumbai can cost anywhere from 200 to 500 rupees, while a night out at a bar or club can cost upwards of 1,000 rupees.

  • Kid’s Schooling

    Education in Mumbai is of a high standard, with many international schools and top universities located in the city. However, the cost of education in Mumbai is also high, with the average cost of private school education for a child ranging from 50,000 to 1.5 lakhs per year.

Final words: The cost of living in Mumbai can be intimidating, but with proper planning and budgeting, it is possible to live comfortably in the city. While it’s true that everything from housing to entertainment is more expensive in Mumbai, the city also offers numerous job opportunities and a high standard of living. Additionally, the city is rich in culture and history, making it a great place to live and raise a family.

FAQs

    1. How expensive is the cost of living in Mumbai compared to other cities in India?

      The cost of living in Mumbai is higher compared to other cities in India. From housing and transportation to food and entertainment, everything in Mumbai comes at a premium.

 

    1. Is it possible to live comfortably in Mumbai on a budget?

      Yes, it is possible to live comfortably in Mumbai on a budget. By being mindful of expenses and budgeting wisely, you can make the most of your money and still njoy the city’s many offerings.

 

    1. What is the average cost of buying or renting a house in Mumbai?

      The average cost of a 2BHK apartment in Mumbai ranges from 80 lakhs to 1.5 crores, depending on the location and amenities. The average rent for a 2BHK apartment in Mumbai is around 60,000 to 1.5 lakhs per month.

 

    1. How expensive is transportation in Mumbai?

      Transportation is one of the biggest expenses in Mumbai. A monthly pass for the local train, which is the primary mode of transportation for Mumbaikars, costs round 1,500 rupees. A taxi ride within the city can cost anywhere from 200 to 500 rupees, depending on the distance and time of day.

 

  1. How much do groceries cost in Mumbai?

    Groceries in Mumbai can cost anywhere from 10,000 to 15,000 rupees per month for a family of four. In conclusion, the cost of living in Mumbai can be high, but ith proper planning and budgeting, it is possible to live comfortably in the city. From its rich ulture and history to its numerous job opportunities, Mumbai has a lot to offer, and with the right approach, you can make the most of it.

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