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Hi there!
I would say Morumbi, Panamby, Real Parque are neibourhoods where you can live. Jardim São Luís is a poor area. The closest metrô station is 1.4km from CENESP and so you have to think how you will get there. Would you have a car? If you want to search by avenues, I would suggest João Dias, Giovanni Gronchi. Also, right across the river you can find a nice place in Alto da Boa Vista, Chácara Santo Antônio and so on but you have to think about the traffic, that is a big problem in São Paulo and how much you are willing to spend.
´¡²ú°ù²¹Ã§´Ç²õ!

Do any Buses run through CENESP from any of the aforementioned areas? I do not have a car and not planning on owning one either for my stay ( 6months). As i do not have much idea of neighborhoods/areas you have mentioned in Sao Paulo, I guess i will have to find out only after i reach there. In the mean time of the below neighborhoods, i have found few rentals to my liking but not sure if they are 'far off' from my place of work. Can you let me know which one(s) can be the closest?

Jardins
Brooklin
Vila Madalena
Vila olimpia
Alphaville
Itaim Bibi
Bela Vista

Brooklin is the closest. There is a bus stop close to CENESP.
You can also stay at a place close to a CPTM (train) station because you can make a transfer to the metrô and get to Giovanni Gronchi, then you can take a bus.
You can find places close to Vila Olímpia, Berrini, Granja Julieta, Morumbi stations and so on. They are close to Pinheiros river margins.
Attention: You don't want to go to Alphaville. That's a good place but not inside of the city.

Hello abhirup,

Trust me, you don't want to live anywhere near where your office is located. The area around Av. João Dias or Giovanni Gronchi is a very high crime area. Living anywhere near there will be a nightmare.

I would suggest that you look for something in Alto de Pinheiros (near Praça Pan Americana) and within walking distance from Estação Cidade Universitária on the CPTM line. That's a quick hop by train to Estação Santo Amaro where you can transfer to the Metrô (Linha Lilas) over to Estação Giovanni Gronchi the estimated time by train from Cidade Universitária to Giovanni Gronchi will be about 25 minutes, from there it would be about a 10 minute or less walk to your workplace. If you're working normal working hours and would therefore need to travel during peek hours then it's going to be crowded, but better you put up with that than live in a place where you're not going to feel safe and you'll be unhappy. When you consider that many people in São Paulo travel up to 1 1/2 to 2 hours by bus/train/subway to get to their jobs a little over half an hour one-way isn't too bad.

The area around Praça Pan Americana is quite nice and there are lots of banks, restaurants, and other businesses too so it will be quite convenient. Check it out for yourself when you have time to stroll around the neighborhood, then see if any of the realtors in the area have rentals available. Rentals there will probably be more reasonable than many of the other neighborhoods you've mentioned.

  Cheers, 
  William James Woodward – Brazil Animator, º£½ÇÂÒÂ×-blog Team