Cost of Living in Navi Mumbai: Factors to Consider

Navi Mumbai is one of the most popular real estate hubs near the city of Mumbai and has been conceptualised as a world-class township with excellent civic and social infrastructure. It is one of the most popular places to live for families, students and professionals working in nearby business hubs for this reason. Navi Mumbai has grown rapidly over the last few years and has transformed into a major business hub alongside. This has naturally led to a major shift of professionals and families to the city. Here is a closer look at the cost of living in Navi Mumbai. 

What are the Factors worth Considering? 

Here are some factors worth taking into account while estimating the cost of living in Navi Mumbai. 

• Your present profession/occupation 
• Status of employment
• Whether you are a family or a single individual 
• The property type, i.e. rental, ownership of the property, shared, etc. 
• Choices in terms of your daily lifestyle
• Your regular commute
• Job type
• Service and utilities that you use
• The distance between your home and workplace
• Your monthly costs on food and other overheads, including lifestyle costs. 

Keeping these aspects in mind, here is a guide to the average cost of living in Navi Mumbai for your perusal. 

Cost of Living in Navi Mumbai- Key Overheads 

The cost of living in Navi Mumbai is approximately Rs, 106,070 for a family of four people without including rentals. It is around Rs. 30,749 for a single individual without rentals. Do keep in mind that the figures may vary based on several parameters. 

Navi Mumbai is 13.5% more affordable in comparison to Bangalore as per this calculation. Rentals are also around 12.4% less than Bangalore. These are the findings from the latest reports at Numbeo. Hence, it can be said that Navi Mumbai is a relatively more affordable destination to live and work in, as compared to several other Indian cities. 

Here are some other figures that will give you an idea of the average living costs in Navi Mumbai. 

• Local transport ticket (one-way)- Rs. 10-30
• Monthly pass- Rs. 300-1,200
• Basic Utilities (electricity, water, cooling, waste disposal)- Rs. 2,200-6,000 

These are some of the basic costs for utilities and other necessities. You should also remember that rentals make up a majority of the overall cost of living in Navi Mumbai. There are varied property options available, depending on your specific requirements. For instance, a 1 bedroom apartment within the city centre may cost you around Rs. 17,000 to Rs. 40,000 per month. These are preferred by those who do not want to stay too far away from their workplaces and other social amenities. Hence, these come at a slight premium over their other counterparts. 

This drops down to around Rs. 12,000-25,000 per month for a 1 bedroom apartment outside the city centre. These units are more suitable for couples, bachelors, working professionals, students and smaller families. They are also relatively more affordable options. At the same time, a 3 bedroom apartment in the city centre will cost you around Rs. 45,000-150,000 per month while a similar apartment outside the city centre will cost you approximately Rs. 39,625 per month as per the median average. Hence, there are a diverse range of units available depending on the specific preferences of tenants. Navi Mumbai is slightly more affordable in comparison to several developed localities in Mumbai. 

Summing Up 

You should keep these living costs in mind if you are planning to relocate to or settle in Navi Mumbai. Do your homework on the types of properties available and compare rental rates before finalising your accommodation. There are numerous properties available in multiple neighbourhoods. Infrastructural and connectivity developments have also contributed towards the growth of the real estate market in Navi Mumbai. This has also been spurred by the development of the commercial and retail segments in the city. Also keep an eye on the costs of daily essentials in order to stay prepared for the shift to this well-developed and popular city.