Greater Mumbai Pin Codes: 5 Most Expensive Areas in Greater Mumbai
Mumbai, the city of dreams, is known for its hustle and bustle. With a population of over 20 million people, it is one of the most populous cities in the world. Mumbai is a hub for business, trade, and entertainment, and it is not surprising that the cost of living in the city is high. In this article, we will look at the 5 most expensive pin codes in Greater Mumbai city to live in, including the name of the area, cost of living, average property rate, and average cost of renting a 2BHK.
Pin Code 400001: Fort
Fort is a historic neighborhood located in South Mumbai. It is known for its colonial architecture, museums, and art galleries. Fort is a popular residential area and is home to some of the wealthiest families in the city. The cost of living in Fort is high, with an average monthly expenditure of around INR 70,000. The average property rate in Fort is INR 55,000 per square foot, and the average cost of renting a 2BHK is around INR 1.2 lakh per month.
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Pin Code 400005: Malabar Hill
Malabar Hill is an upmarket residential area in South Mumbai. It is known for its stunning views of the Arabian Sea and is home to some of the most prominent politicians and industrialists in the country. The cost of living in Malabar Hill is even higher than Fort, with an average monthly expenditure of around INR 1.5 lakh. The average property rate in Malabar Hill is INR 1.5 lakh per square foot, and the average cost of renting a 2BHK is around INR 2.5 lakh per month.
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Pin Code 400026: Pedder Road
Pedder Road is a posh residential area in South Mumbai. It is known for its high-end luxury apartments and villas. The cost of living in Pedder Road is also on the higher side, with an average monthly expenditure of around INR 1.2 lakh. The average property rate in Pedder Road is INR 1.2 lakh per square foot, and the average cost of renting a 2BHK is around INR 2 lakh per month.
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Pin Code 400049: Bandra West
Bandra West is a popular suburb located in Western Mumbai. It is known for its vibrant nightlife, shopping areas, and restaurants. Bandra West is a popular residential area for expats and young professionals. The cost of living in Bandra West is slightly lower than the neighborhoods in South Mumbai, with an average monthly expenditure of around INR 80,000. The average property rate in Bandra West is INR 40,000 per square foot, and the average cost of renting a 2BHK is around INR 1.4 lakh per month.
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Pin Code 400050: Juhu
Juhu is a seaside suburb located in Western Mumbai. It is known for its beach, upscale hotels, and bungalows. Juhu is a popular residential area for celebrities and wealthy individuals. The cost of living in Juhu is also on the higher side, with an average monthly expenditure of around INR 1.2 lakh. The average property rate in Juhu is INR 70,000 per square foot, and the average cost of renting a 2BHK is around INR 1.5 lakh per month.
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Conclusion
Mumbai is a city of contrasts, with some areas being affordable and others being extremely expensive. The neighborhoods we have discussed in this article are some of the most expensive pin codes in Greater Mumbai city to live in. These areas are known for their high-end luxury properties and posh lifestyle. If you are planning to live in any of these neighborhoods, be prepared to shell out a significant amount of money.
It is important to note that the cost of living and property rates in Mumbai are constantly changing, and the information provided in this article is based on current market trends. It is always recommended to do your own research and consult with real estate experts before making any property investments or rental decisions.
FAQs
Yes, there are several other neighborhoods in Mumbai that are known for their high property rates and cost of living. However, the pin codes mentioned in this article are some of the most expensive and sought-after areas in the city.
Yes, there are several affordable housing options available in Mumbai. However, the demand for housing in the city is high, and it may take some time to find a suitable property within your budget.
While it is possible to negotiate the rent for a 2BHK apartment in these neighborhoods, it is important to note that the demand for housing in these areas is high. Landlords may not be willing to lower the rent, especially if the property is in a prime location.
Yes, living in these expensive neighborhoods comes with several advantages, including proximity to top-rated schools, restaurants, and shopping areas. These neighborhoods are also considered safe and secure, with low crime rates.
Mumbai is one of the most expensive cities in India, and property rates are constantly increasing. However, investing in property in Mumbai can be a lucrative decision, as the demand for housing in the city is high. It is important to do your own research and consult with real estate experts before making any property investments.
