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My office is at Nariman Point. I am looking for places to stay in Mumbai. I have two choices which are:

a. Look for a place nearby but because of high rent, compromise on the living standard and adjust in an okayish place (somewhere near dadar, byculla, lower parel)

b. Look for a good place (housing society with common pool, gym, clubhouse, etc.) but travel for long hours in the local (somewhere near mulund or andheri)

My work life is such that I often have to spend very long hours at the office
Trust me, the travel eats up a part of you. I should know, I've been in Navi Mumbai my whole life and the day in day out travel of 3 hours or so is the most draining part of the day, not the work. Maybe its my bad sleep cycle and some compounding health issues, who knows.

The point is, get a smaller home near your office, you will thank yourself for it. You'll find open gyms, if not, get yourself that dumbell which has adjustable weight, a yoga mat and a pair of good running shoes.
Never spend time on travel in Mumbai. Pay a little more but live close to the office ~ 10 to 20 mins travel. It is worth the lack of aggravation.