Last Updated on January 21, 2025 by Bharat Saini
Mumbai, often called the “City of Dreams,” is India’s financial capital and a hub for culture, business, and entertainment. Known for its notable landmarks like the Gateway of India and Marine Drive, it’s a city that never sleeps.
While the city offers endless opportunities, its cost of living is one of the highest in India. Understanding these expenses—housing, food, transport, and more—is key to planning a life in this vibrant metropolis. Let’s break down the cost of living in Mumbai in detail so that if you are looking for flats for sale in Mumbai, it becomes easy for you to plan.
Cost of Living in Mumbai
Monthly Cost of Living in Mumbai
| Category | Single Person | Couples | Families |
| Accommodation | Rs. 6,500 – Rs. 9,500 | Rs. 12,500 – Rs. 20,500 | Rs. 15,500 – Rs. 40,500 |
| Groceries | Rs. 1,550 – Rs. 3,500 | Rs. 4,500 – Rs. 10,500 | Rs. 10,500 – Rs. 25,500 |
| Transport | Rs. 1,100 – Rs. 1,550 | Rs. 1,550 – Rs. 2,550 | Rs. 1,550 – Rs. 3,500 |
| Utilities | Rs. 2,500 – Rs. 3,500 | Rs. 2,250 – Rs. 3,500 | Rs. 2,250 – Rs. 3,500 |
| Entertainment | Rs. 4,500 – Rs. 7,050 | Rs. 1,550 – Rs. 4,050 | Rs. 2,500 – Rs. 5,050 |
| Shopping | Rs. 4,500 – Rs. 5,500 | Rs. 3,500 – Rs. 5,500 | Rs. 3,550 – Rs. 6,550 |
| Kid’s Schooling | N/A | N/A | Rs. 3,500 – Rs. 12,500 |
Yearly Cost of Living in Mumbai
| Area of Expense | Yearly Cost |
| Rent | Rs. 72,000 – Rs. 4,80,000 |
| Entertainment | Rs. 18,000 – Rs. 84,000 |
| Groceries | Rs. 18,000 – Rs. 3,00,000 |
| Transport | Rs. 12,000 – Rs. 36,000 |
| Utilities | Rs. 24,000 – Rs. 36,000 |
| Schooling of Children | Rs. 36,000 – Rs. 1,44,000 |
Best Affordable Residential Areas to Buy a Flat in Mumbai
1. Panvel
Panvel, often considered the gateway to Mumbai, is a fast-growing suburb in Navi Mumbai. It boasts excellent connectivity through the Mumbai-Pune Expressway and upcoming projects like the Navi Mumbai International Airport. Panvel offers an excellent mix of urban amenities and natural surroundings.
- Property Rates: If you are thinking of buying a flat in Panvel then the property rates start from ₹5,500–₹8,000 per square foot. A 1 BHK flat typically costs between ₹30 lakh to ₹50 lakh.
- Why Buy Here? Affordable housing, growing infrastructure, and a promising return on investment make Panvel an ideal choice for first-time buyers.
2. Jogeshwari East
Jogeshwari East is an emerging residential hub located close to prime areas like Andheri and Goregaon. With excellent connectivity to the Western Express Highway and the Jogeshwari-Vikhroli Link Road (JVLR), this area is highly convenient for working professionals.
- Property Rates: You’ll find flats for sale in Jogeshwari East starting from ₹12,000–₹16,000 per square foot. A 1 BHK flat is priced around ₹80 lakh to ₹1.2 crore.
- Why Buy Here? Strategic location, excellent transport links, and proximity to business hubs like SEEPZ and MIDC.
3. Kandivali East
Known for its family-friendly environment and modern amenities, Kandivali East is another excellent option. It is well-connected via the Western Express Highway and the Kandivali Railway Station.
- Property Rates: Starting from ₹12,000–₹14,000 per square foot. A 2 BHK flat typically costs ₹1.2 crore to ₹2 crore.
- Why Buy Here? Gated communities, good schools, and a peaceful atmosphere make it suitable for families.
4. Thane
Thane has transformed into a residential hotspot due to its affordability and connectivity. With robust infrastructure, numerous malls, and a variety of residential options, Thane is a favorite for mid-income buyers.
- Property Rates: Starting from ₹10,000–₹12,000 per square foot. A 1 BHK flat ranges from ₹60 lakh to ₹90 lakh.
- Why Buy Here? Great value for money, excellent social infrastructure, and scenic surroundings with lakes and green spaces.
5. Mira Road
Located on the outskirts of Mumbai, Mira Road is a budget-friendly alternative for homebuyers. It offers excellent connectivity to the western suburbs and has seen significant development over the years.
- Property Rates: Starting from ₹8,000–₹10,000 per square foot. A 1 BHK flat costs around ₹45 lakh to ₹70 lakh.
- Why Buy Here? Affordable housing options, upcoming infrastructure projects, and proximity to nature.
Cost of Living in Mumbai for FamilyÂ
Cost of Buying a Flat in Mumbai
If you want to buy a flat in Mumbai, you must have a picture of the cost range. The average cost of a flat in Mumbai ranges between Rs. 30 lakh and Rs. 41 crore, with one to five BHK options. Families looking to buy a flat in Mumbai should also consider extra costs like home loan EMIs, stamp duty, and registration fees, which make it a big financial decision.
Rent Price
Mumbai’s rental property prices range from Rs 25,500 to Rs 2.5 lakh per month, while property prices in core areas start at around Rs 1.5 crore for a 1 BHK apartment. Mumbai is one of the most expensive cities in India, so it is essential to consider your budget and location when renting a property in the city.
Food and Groceries Cost
Depending on their needs, families spend Rs. 10,500 to Rs. 25,500 monthly on groceries. Eating out adds to the budget, with a meal for a family of four costing around Rs. 3,700. Purchasing in bulk and shopping at local markets helps to save money on fresh fruits and vegetables.
Shopping and Entertainment Costs
Families spend Rs. 2,500 to Rs. 5,500 monthly on shopping and entertainment. Malls like Phoenix Market City and street markets like Colaba Causeway are popular. Families can enjoy various activities, such as going to the movies, dining out, or visiting parks, but the cost will vary depending on the frequency of their outings.
Healthcare and Medical Cost
Healthcare costs for a family are Rs. 2,500 to Rs. 5,500 per month. Doctor visits in private hospitals start at Rs. 500, and regular check-ups or medicines add Rs. 1,000 to Rs. 2,000 more. Having health insurance helps manage unexpected expenses.
Transportation Cost
Depending on their mode of transport, families spend an average of Rs. 1,550 to Rs. 3,500 monthly on transportation. Public transport, such as buses and local trains, is cheaper, with passes costing Rs. 400 per person monthly.
Utility Cost
Monthly utility bills, including electricity, water, and the internet, cost Rs. 2,050 to Rs. 6,500 for a family. Electricity bills for an 800 sq. ft. flat are about Rs. 3,550, and internet plans start at Rs. 800. Cooking gas and water charges depend on usage.
Cost of Living in Mumbai for Students and BachelorsÂ
Rent Price
If you are a student or bachelor and looking to buy a flat in Mumbai, your initial step could be understanding the rent range. Rent in Mumbai varies by location and type of accommodation for students and bachelors. A shared apartment costs between Rs. 8,500 and Rs. 12,500, while single-room PG accommodations range from Rs. 12,500 to Rs. 46,500 in core areas. Bachelors opting for private 1 BHK apartments might pay Rs. 25,000 or more, with high-end localities charging in lakhs.
Food and Groceries Cost
Monthly food expenses for students and bachelors fall between Rs. 1,550 to Rs. 3,500. Those relying on tiffin services or cooking at home can manage on a tighter budget. Food costs vary based on diet and eating habits. Budget meals cost around Rs. 150, mid-range meals cost around Rs. 350, and higher-end dining options can result in higher costs.
Shopping and Entertainment Costs
Entertainment expenses for students and bachelors typically range from Rs. 4,500 to Rs. 7,500 monthly. These expenses include outings, movies, and shopping in malls or street markets. Lifestyle choices and the frequency of activities play a major role in determining overall costs.
Schooling and Childcare Cost
While students do not incur childcare costs, schooling fees depend on the institution and its location. Prestigious schools or private colleges in Mumbai may charge high tuition fees. For younger students, these costs can be an added expense for families living in the city.
Healthcare and Medical Cost
Basic healthcare costs are relatively manageable in Mumbai. Students and bachelors often rely on public hospitals or health insurance to keep expenses low. However, emergency services or private clinics can significantly increase costs.
Transportation Cost
Public transport is the most economical option, with monthly bus or metro passes starting at Rs. 350. Daily commutes cost around Rs. 1,050 to Rs. 1,550 depending on distance and type of transport.
Utility Cost
Utilities, including electricity, water, and internet, cost Rs. 2,500 to Rs. 3,500 per month. Wi-Fi plans start at Rs. 500, and electricity bills vary based on usage. Shared accommodations often help reduce these costs for students and bachelors.
FAQs
What is the average monthly cost of living in Mumbai for a single person?
The average monthly cost for a single person ranges between Rs. 15,500 and Rs. 25,500, including rent, groceries, transportation, and basic utilities.
How does the cost of living in Mumbai compare to other metro cities in India?
Mumbai’s cost of living is higher than most metro cities due to expensive housing and lifestyle options. However, public transport and local markets help reduce costs.
What is the cost of entertainment and leisure in Mumbai?
Entertainment costs range from Rs. 4,000 to Rs. 7,000 monthly, including movies, dining, and shopping. Costs vary depending on lifestyle preferences.
How expensive is public transportation in Mumbai?
Public transport is affordable, with monthly bus or metro passes starting at Rs. 300. Daily commutes typically cost Rs. 1,050 to Rs. 1,550 for bachelors, and families spend an average of Rs. 1,550 to Rs. 3,500 monthly on transportation.
