I have a job offer in Google MTV from Bangalore. Should I take it?

Pros: the money of course. Cons: suburban sprawl, car ownership :( I would like to move to the EU, so I'm wondering if this might help with giving me a resume/career boost.

Yes. You will not regret it. It will give you many degrees of freedom.

Yes. It's not just the money; you'll be at the center of Google's power base. Spend a few years there, and it'll be much easier to move to anywhere in the world you want (within Google or otherwise).

Being at headquarters always makes it easier to move elsewhere. Being outside of headquarters makes it more difficult, because the main decision-makers are usually at HQ and you need fewer hops to reach them in order to get what you want.

Unless you're planning to stay in the valley permanently, I would not think too much about sprawl/car stuff. IMO there should always be painful disadvantages so that you have motivation to move towards where you really want to go :D