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Theres a place called hotel Victoria in marine lines. Check it out. 500 per night

No deposit ofc but wont include food
500 per night? Sounds too good to be true. Are you talking about the Hotel Victoria near CST Station?
Marine Lines South me kuch try karo. Just a walk away
When I look online most of it has low review places popping up
Look for something around Dadar. It will save you some money.

Else, Fort area is nearby and has sufficient places to stay.