Cost of Living in Thane: Exploring Way of Life in Lake City

Thane is one of the most popular residential and commercial hubs near Mumbai. It is one of the best places to stay for working professionals and families due to its well-developed infrastructure and connectivity improvements over the years. Thane has now transformed into a megalopolis of its own with top-notch amenities. 

You should have an idea of the average cost of living in Thane before you shift to the city. This will help you prepare the right monthly budget beforehand. Here is a handy guide for your perusal. 

Factors to Consider for Evaluating Your Living Costs 

Here are some factors that will naturally influence your overall cost of living in Thane. 

• Your profession/occupation. 
• Your lifestyle preferences. 
• Whether you are single or living alone or have a family with you 
• Status of employment 
• Your costs on transportation, food, domestic services, household essentials and other overheads
• Distance between your home and office
• Entertainment and recreational costs 

Keep all these aspects in mind while calculating your approximate cost of living in Thane, which is also colloquially known as the City of Lakes or the Lake City. 

Average Cost of Living in Thane for Residents 

Here are the average living costs that you should take into account: 

• 1 BHK apartment rental- Rs. 20,000. This depends on the project, unit type, location, and several other factors. 
• 1 BHK apartment price- Rs. 80 lakh. 
• 2 BHK apartment rental- Rs. 30,000 
• Local public transportation- Rs. 500 per month and upwards
• Electricity Costs- Rs. 1,000 per month and upwards 

These are some of the basic living costs that you should be prepared to meet if you are shifting to Thane. Let us now look at some of these costs across various categories. 

Living Costs for Bachelors 

The living costs for bachelors include the following overheads: 

• Rentals- Average 2 BHK apartment rentals stand at around Rs. 25, 000 per month. You may also share your accommodation with other paying guests or stay in a rented apartment on a shared basis to lower these costs. 
• Household costs- You will have to allocate money for covering groceries, electricity bills, internet costs, domestic help costs and other basic utilities. This will be at least Rs. 5,000 per month or even more. 
• Transportation- You may commute regularly to your workplace in or around Thane. Hence, your monthly costs may start from Rs. 500 and go upwards. If you use a car, then it will be at least Rs. 3,500 or even higher. 
• Lifestyle expenditure- Bachelors may allocate around Rs. 5,000 each month as lifestyle costs in Thane. 
• Entertainment costs- A day out will cost at least Rs. 1,500 or even higher, depending on your chosen activities. 

Living Costs for Students

Here are some of the major living costs for students in Thane: 

• Rent- Rs. 15,000 per month for a 1 BHK unit
• Transportation- Rs. 500 or higher
• Household costs- Rs. 4,000 or higher
• Lifestyle costs- Rs. 1,500 for a day out
• Fuel costs- Rs. 4,000 per month if they use a car 

Living Costs for Working Couples 

Working couples can budget for the following costs: 

• Rent- Rs. 20,000 each month for a 2 BHK unit
• Transportation- Rs. 2,000 per month
• Fuel- Rs. 5,000 if they use a car
• Household costs- Rs. 8,000 per month
• Lifestyle costs- Rs. 2,500 for a day out 

Living Costs for Families

Families can prepare to meet these living costs: 

• Rent- Rs. 25,000 per month for a 2 BHK unit
• Household costs- Rs. 20,000 or higher (for 3 people)
• Transportation- Rs. 8,000 if everyone uses a car
• Child care- Rs. 10,000 per month for one child
• Lifestyle costs- Rs. 4,000 for a day out (3 people)

The average cost of living in Thane is not as high as several localities in Mumbai. However, it may still be higher across areas like Thane West and other places in the district including Ambernath, Kalyan, Badlapur, Ghodbunder Road, Vartak Nagar and Kolshet among others. You should do your homework before shifting to the city, ensuring that your chosen accommodation is within your budget.