No good guide will hang around outside monuments, usually you will get touts.
Mumbai has many agencies which offer guided tours, and at least some of them have prices on their websites also.
Ms. Roma Singh, Regional Director
Tel: 022-22033144/5, 22074333/4, Fax: 022-22014496
They have offices in all the major cities and zones of India and can help you get a free lance guide at a reasonable price in a particular city/zone.They hold the list of guides approved & licensed by them .So can approach them .The site you refer is of private guides and they & all the agencies with guided tours are running business for profits so their prices would be much beyond the normal cost .
There are many recommendations of other travellers on this forum earlier so if you just go search for a Good Mumbai Guide on this forum you will find testimonials & detail of some.
I'm with Deepa in just over two weeks :-)
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