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Living in Mumbai: India’s Costliest City

Posted by vinaysinghdy in Home on July 30th, 2020

Owning a home in Mumbai is a dream. The city offers high standards of living and good employment opportunities. However, it is also amongst the costliest in the world. The apartments, which are constructed by leading developers like Vinod Goenka, Director of DB Realty, comprise world-class amenities and offer homeowners a superior lifestyle. However, decent homes in the city cost in crores. According to a survey, Mumbai is rated as Asia’s 19the most expensive city. The survey further states that Mumbai is the world’s 60th costliest city. Though homebuyers can get good properties at decent prices in the neighbouring cities; however, as most of the offices are in Mumbai, commute can be costly. Nevertheless, the cost of living not only depends on the person’s lifestyle but may vary for families or bachelors.

 

If you are a bachelor, it will be preferable to opt for a co-living space rather than spend money on rent or an apartment. The rent of a 2BHK apartment in Mumbai will be approximately between Rs 40,000 and Rs 50,000. However, you can get a good co-living space between Rs 10,000 and Rs 20,000. Added to this are other expenses like commute, eating out, watching a movie, socialising with friends, etc. For example, the BEST monthly pass will cost you anywhere between Rs 300 to Rs 800 or more, while the cost of a meal for one at a budget hotel can be around Rs 1500 for two people.

 

If you have a family, it is advisable to go for a decent home. The cost of rent of a 2BHK will be around Rs 50,000; however, if you are planning to purchase it then you will have to shell out between 1.5 crore to Rs 4 crore and above. But added to the rent or cost of the apartment are other expenses like maintenance charges, maid’s salary, school fees, clothes, food, parking charges, cost on commute, fuel charges, water and electricity charges, EMIs among others.

 

Though living in Mumbai is costly but the city provides high standards of living to homeowners. Basically, the cost of apartment or rent depends upon your requirements and lifestyle. In case you are looking to buy an apartment in Mumbai, there are many reputed developers to consider like Vinod Goenka of DB Realty. The company is constructing apartments that have the best of amenities, green spaces and are strategically located.

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