Mumbai remains most expensive Indian city to live in: Survey
Mumbai has retained its title as the most expensive city in India for expatriates, according to the 2024 Cost of Living survey by Mercer. Mumbai has held this position since the survey's inception in 2013. On a global scale, Mumbai has risen 11 places from last year, now ranking 136th among the 226 cities surveyed. The top 10 most expensive cities globally are Hong Kong, Singapore, Zurich, Geneva, Basel, Bern, New York City, London, Nassau and Los Angeles.
Other Indian cities also rank high
The survey also revealed that other Indian cities feature in the top 200 most expensive cities globally. These include New Delhi (ranked 164), Chennai (189), and Bengaluru (195). Meanwhile, Hyderabad holds steady at rank 202 while Pune has risen to rank 205. Kolkata also saw a rise in ranking to 207. Within Asia, both Mumbai and Delhi have seen an increase in their rankings.
Indian cities witness surge in housing rentals
The survey noted a significant increase in housing rentals in expatriate neighborhoods. Bengaluru saw a rise of 3-6% in rentals, while Pune, Hyderabad, and Chennai experienced increases of 2-4%. Delhi witnessed the steepest increase at 12-15%, while Mumbai saw rents increase by 6-8%. Rahul Sharma, the India mobility leader at Mercer, attributed these rises to factors such as employment growth, a rising middle class, and a largely resilient economy.
Mumbai, Pune lead in energy and utility costs
The survey also analyzed various other living costs. It found that Mumbai and Pune were the most expensive Indian cities in terms of energy and utility costs. Transportation costs, including automobiles, auto parts and running costs, were highest in Mumbai, followed by Bengaluru. Alcohol and tobacco items were least expensive in Delhi and most expensive in Chennai, where the cost has risen by 20% in a year.
