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Tight On Budget? Discover 8 Cheapest Areas In Mumbai
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By: shubham mittal
- November 24, 2023
Do you believe in the saying that living in Mumbai is quite expensive, especially when it comes to buying or renting a house? If yes, you must not, as it is just a misconception. The city is known to be the epitome of grandeur and luxury. However, Mumbai boasts a diverse real estate landscape that perfectly blends luxury and affordable housing options. Every square foot in this city has a unique story to tell. Therefore, you must not believe in the myth that says Mumbai is synonymous with lavish living. You can also easily find the cheapest area in Mumbai to live within your budget.
Unlike shown in the movies and on the internet, Mumbai is much more than the glittering skyscrapers and high-end apartments. It also hosts a diverse spectrum of localities offering housing solutions to budget-conscious individuals. The city seamlessly blends the new and the old, the frugal and the lavish. As India's financial capital, Mumbai is a centre for aspirations and varying economic activities. This makes it a home to people with varying financial levels.
If you live in Mumbai or are planning to move to this city and are looking to buy a place in an affordable area, the Home4us team is here to help you. Our real estate experts have prepared this exclusive blog for you. It will introduce you to the cheapest areas in Mumbai. From students and young professionals to small families, the following areas in this blog must be considered by the ones looking for pocket-friendly abodes. So, start reading below and discover the cheapest area in Mumbai.
Seven Affordable Areas in Mumbai
Mumbai is the City of Dreams, housing numerous individuals from all across the country. The city has a diverse real estate landscape and houses multiple affordable regions as follows.
Summary Table- Cheapest Areas in Mumbai
Vikhroli
Vikhroli is a suburb known to be a cheap place to live in Mumbai. It houses a diverse range of housing options. Vikhroli is located in the North-Eastern part of the city. It is well-celebrated for its high-quality theatres, restaurants, and infrastructure. The residential spaces in this region are always in demand among renters and potential home buyers. People from other regions prefer this area because it is well connected to the rest of the city. The Vikhroli Railway Station connects it to all the other significant parts of Mumbai. It is also well-connected to Lal Bahadur Shastri Road, Agra Road and Eastern Express Highway.
Nearby Educational Institutions- Sandesh College of Arts Commerce & Science, Abhay International School, Orchids The International School. Vikas College of Arts Science and Commerce, Utkarsha Bal Mandir
Nearby Markets- Daksh SuperMarket, Vikhroli East Market
Nearby Hospitals- Krantiveer Mahatma Jyotiba Phule Hospital, Godrej Memorial Hospital, Samarth Hospital, Aastha Hospital
Kandivali
Another affordable area in Mumbai is Kandivali. It was earlier known as Khandolee and is situated in the northern part of Mumbai. Kandivali is an emerging region of the city. It is filled with relaxation and entertainment areas. This region is believed to be the best place to live for homemakers, salaried professionals and kids. One of the most popular reasons people prefer this area is because it is located only 14 kilometres away from the domestic and international airports. It also has easy accessibility to all the major regions of Mumbai. Kandivali houses the busiest railway station in the city- Kandivali Railway Station, which was built in 1907.
Nearby Educational Institutions- St. Joseph's High School. Prakash College of Commerce and Science, Kapol Vidyanidhi International School, Akshara High School
Nearby Markets- Thakur Mall, Raghuleela Mega Mall
Nearby Hospitals- Paarth Hospital, Sukhsagar Hitech Hospital, Shatabdi Hospital, BMC Hospital
Powai
The next cheapest area in Mumbai is Powai. Located on the shores of Powai Lake, this region is bounded by the Vikhroli Parksite Hills. It is home to several educational institutions and corporations, making it an affordable region for students and young professionals. Powai houses the famous Sanjay Gandhi National Park. It also has numerous other historic places.
Nearby Educational Institutions- Vivekanand Education Society's Institute of Technology, St, Gregorios High School. JBCN International School
Nearby Markets- K Star Mall, Cubic Mall
Nearby Hospitals- Apollo Spectra Hospital, SRV Hospital, Zen Multi Speciality Hospital
Ghatkopar
Moving forward in this list, we would like to introduce you to Ghatkopar. It is another preferred location for affordable housing options. It is one of the oldest regions of the city. Ghatkopar is well-known for educational institutions' commercial and residential spaces. It is also known for its multi-storey apartments. One of the most crucial reasons to live in this area is that it is connected to the rest of the city via the Ghatkopar Metro Station.
Nearby Educational Institutions- PVG Vidya Bhawan School, The Universal School. Vidyaniketan Commerce & Science College, PG Garodia School
Nearby Markets- Milan Shopping Centre, R Odeon Mall
Nearby Hospitals- Aadhar Orthopaedic Hospital, Ramabai Thackrey Hospital, Samartha Maternity & Multispeciality Hospital
Borivali
Housing numerous hospitals, schools, colleges and restaurants, Borivali is the next area on this list. It is known as the 'suburb of gardens'. It is one of the cheapest areas in Mumbai, offering affordable residential spaces. It is the most preferred location among the individuals working near CST as it is easily accessible from local trains. It is also a hub of a business headquarters and new-age social infrastructure.
Nearby Educational Institutions- St. Francis Institute of Technology, Orchids The International School, Don Bosco High School, JBCN International School
Nearby Markets- V Star Mall, Indraprastha Shopping Centre
Nearby Hospitals- Shree Ganesha Hospital, Apex Hospital, Mandapeshwar Nursing Home, Lotus Multispeciality Hospital
Malad
The next affordable region in Mumbai is Malad. It is a preferred region for white-collar professionals. It is known to be one of the cheapest residential areas. Malad houses lavish hotels and has numerous places for delicious street food. It is well-connected to the significant parts of the city through Link Road, NH-8 Ferry and SV Road. The western part of this area is located 12.2 kilometres away from the Chhatrapati Shivaji International Airport.
Nearby Educational Institutions- Nagindas Khandwala College Of Commerce Arts And Management Studies, Orchids The International School. Billabong High International School
Nearby Markets- Inorbit Mall. Infiniti Mall
Nearby Hospitals- Zenith Hospital, Lifeline Multispeciality Hospital, Thunga Hospital
Chembur
Chembur is another region preferred by individuals looking for affordable housing options. It has numerous industrial centres and attractions like Diamond Garden, Tata Institute of Social Science, and Dr Ambedkar Garden. Chembur is situated just 15 km away from the airport and has excellent connectivity to the rest of the city. It connects Navi Mumbai to Central Mumbai. Another reason it is famous is that it houses popular companies like Hindustan Petroleum Corporation Limited, Petroleum Corporation Limited and Bhabha Atomic Research Centre.
Nearby Educational Institutions- Vivekanand Education Society's Institute of Technology (VESIT), St, Gregorios High School, JBCN International School
Nearby Markets- Inorbit Mall. Infiniti Mall
Nearby Hospitals- K Star Mall, Cubic Mall
Bottom line
Mumbai is a bustling city where the cost of living is constantly challenging. However, it is not impossible. Mumbai has numerous cheap places to live that offer budget-friendly residential spaces. The above listed are some of these areas. To explore the best residential projects in these areas, visit our real estate website and find the house of your dreams.
Frequently Asked Questions
What is the average cost of renting in Mumbai?
If you live in a posh area, the rent for a 1 BHK apartment varies from INR 20,000 to INR 50,000. On the other hand, in affordable areas, the rent for 2 BHK apartments is between INR 20,000 and INR 35,000.
What is the average cost of transport in Mumbai?
If one uses the local transport, they spend around INR 500 monthly.
What is the average cost of food in Mumbai?
The average monthly expenditure on groceries is around INR 4,000 to INR 5,000 per person.
What are the average utility expenses in Mumbai?
The average utility expense in Mumbai for small families is around INR 3,000.
What are the most affordable places to stay in Mumbai?
Some of the most affordable areas in Mumbai are Vikhroli, Borivali, Malad and Chembur.