Nariman Point
Encyclopedia
Nariman Point is Mumbai
's premier business district and country's first central business district. It was named after Khursheed Framji Nariman
, a Parsi visionary. The area is situated on land reclaimed from the sea. It had the distinction of having the highest commercial real estate rental space in the world in 1995 at $175 per square foot ($1880/m²). As per 2006 the area prices rose sharply to 450 US$ per sq ft. ($4800/m²). Nariman Point hit a new high as a flat sold for a record $8.62 million (USD) on 26 November 2007 http://www.property-report.com/aprarchives.php?id=952&date=261107, at an astonishing $2488 (97,842) per square foot.
The area is situated on the extreme southern tip of Marine Drive
. It houses some of India
's premier business headquarters. Nariman point is the 4th most expensive office market in the world.
, Khurshid Nariman (affectionately called Veer Nariman), a Brihanmumbai Municipal Corporation corporator, proposed to reclaim the area from the sea near Churchgate
. To accomplish this task, debris from various parts of the city was dumped here and the shallow sea coast was filled. Reinforced concrete cement was used, of which the imported steel used was obtained from the black market at a higher price due to the World War II
.The entire cost was estimated to be 3 lakh
s or 300,000 (now 10 crore
s or 100,000,000) Additional reclamations were carried out in the 1970s. A construction boom in that decade saw this region spurting many commercial high-rises.
It is widely regarded as the 'Manhattan' of Mumbai and it boasts of a spectacular skyline and pricey residential condos. It is also the main financial district of Mumbai and houses most of the financial services and brokerage companies—both Indian and international. It is also the location for the Vidhan Bhavan which is the political headquarters of the state of Maharashtra.
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
's premier business district and country's first central business district. It was named after Khursheed Framji Nariman
Khurshed Nariman
Khurshed Framji Nariman, also known as Veer Nariman, was one of the second generation of Parsi stalwarts in the Indian National Congress. He came into the public eye in 1928 as an independent and courageous politician for his sensational process against the British engineer involved in the Bombay...
, a Parsi visionary. The area is situated on land reclaimed from the sea. It had the distinction of having the highest commercial real estate rental space in the world in 1995 at $175 per square foot ($1880/m²). As per 2006 the area prices rose sharply to 450 US$ per sq ft. ($4800/m²). Nariman Point hit a new high as a flat sold for a record $8.62 million (USD) on 26 November 2007 http://www.property-report.com/aprarchives.php?id=952&date=261107, at an astonishing $2488 (97,842) per square foot.
The area is situated on the extreme southern tip of Marine Drive
Marine Drive
Marine Drive is a 3-kilometre-long boulevard in South Mumbai in the city of Mumbai. It is a 'C'-shaped six-lane concrete road along the coast, which is a natural bay. The road links Nariman Point to Babulnath and Malabar Hill. Marine Drive is situated over reclaimed land facing west-south-west...
. It houses some of India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
's premier business headquarters. Nariman point is the 4th most expensive office market in the world.
History
Prior to 1940, the area was part of the Arabian sea. A popular leader of the CongressIndian National Congress
The Indian National Congress is one of the two major political parties in India, the other being the Bharatiya Janata Party. It is the largest and one of the oldest democratic political parties in the world. The party's modern liberal platform is largely considered center-left in the Indian...
, Khurshid Nariman (affectionately called Veer Nariman), a Brihanmumbai Municipal Corporation corporator, proposed to reclaim the area from the sea near Churchgate
Churchgate
Churchgate is an area in downtown South Mumbai. During the eighteenth and up to the mid 19th century, Bombay was a walled city. The city walls had three gates, and Church Gate, named after St. Thomas Cathedral, Mumbai was one of the gates. The gate was situated near the present day location of...
. To accomplish this task, debris from various parts of the city was dumped here and the shallow sea coast was filled. Reinforced concrete cement was used, of which the imported steel used was obtained from the black market at a higher price due to the World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
.The entire cost was estimated to be 3 lakh
Lakh
A lakh is a unit in the Indian numbering system equal to one hundred thousand . It is widely used both in official and other contexts in Pakistan, Bangladesh, India, Maldives, Nepal, Sri Lanka, Myanmar and is often used in Indian English.-Usage:...
s or 300,000 (now 10 crore
Crore
A crore is a unit in the Indian number system equal to ten million , or 100 lakhs. It is widely used in India, Bangladesh, Nepal, and Pakistan....
s or 100,000,000) Additional reclamations were carried out in the 1970s. A construction boom in that decade saw this region spurting many commercial high-rises.
Commercial establishments
- Headquarter of Central Bank of India
- The Royal Bank of Scotland - Global Banking & Markets
- Accenture Management Consulting
- AZB & PartnersAZB & PartnersAZB & Partners is one of the top three corporate law firms in India, active in corporate law, M&A transactions and fund-raising for corporations with offices in New Delhi, Bombay and Bangalore. Zia Mody, is the managing partner of the firm. The other partners are Ajay Bahl, Bahram Vakil and Anup...
in Express TowersExpress Towers MumbaiThe Express Towers is a 25-storey building located on Marine Drive in Nariman Point, Mumbai. Upon its completion in 1972, the building was the tallest building in South Asia for about two years... - Kochhar & Co.
- The Parthenon Group
- McKinsey & CompanyMcKinsey & CompanyMcKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
- Boston Consulting GroupBoston Consulting GroupThe Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
- Bain CapitalBain CapitalBain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
- Monitor GroupMonitor GroupMonitor Group is a global management consulting firm headquartered in Cambridge, Massachusetts, United States and with 27 offices in 26 major cities around the world. It provides strategy consultation services to the senior management of organizations and governments...
- State Bank of IndiaState Bank of IndiaThe State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
- Kotak Mahindra BankKotak Mahindra BankThe Kotak Mahindra Bank is a financial organization established in 1985 in India. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking...
- JPMorgan
- Howrah Mills Co Ltd
- HR Group
- Kotak Securities
- Edelweiss CapitalEdelweiss CapitalEdelweiss Capital is a financial services company based in Mumbai, India. Edelweiss Capital Limited provides investment banking, institutional equities, private client broking, asset management, wealth management, insurance broking and wholesale financing services to corporate, institutional and...
- Bakhtawar Tower
- Gulf Airlines
- Navy House
- HSBC
- Croma Zip
- Life Insurance Corporation
- INOX Leisure Ltd.
- Export Credit GuaranteeCorporation of India Ltd.in Express TowersExpress Towers MumbaiThe Express Towers is a 25-storey building located on Marine Drive in Nariman Point, Mumbai. Upon its completion in 1972, the building was the tallest building in South Asia for about two years...
- Express TowersExpress Towers MumbaiThe Express Towers is a 25-storey building located on Marine Drive in Nariman Point, Mumbai. Upon its completion in 1972, the building was the tallest building in South Asia for about two years...
, home of the Indian Express newspaper - The Air India BuildingAir India BuildingThe Air India Building is a 24-storey commercial tower on Marine Drive in Nariman Point, Mumbai, India. The building serves as the corporate headquarters for the airline, Air India.-History:...
, Headquarters of Air IndiaAir IndiaAir India is the flag carrier airline of India. It is part of the government of India owned Air India Limited . The airline operates a fleet of Airbus and Boeing aircraft serving Asia, Australia, Europe and North America. Its corporate office is located at the Air India Building at Nariman...
and National Aviation Company of India ltd. - Maker Chambers
- Trident, Nariman Point & The Oberoi MumbaiOberoi Trident TowersThe Oberoi Trident Towers is a 25 storey building in Nariman Point, Mumbai, India. The building is well-known as the luxury Trident, Mumbai hotel....
- Reserve Bank of IndiaReserve Bank of IndiaThe Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
- British Consulate and British Library
- HeadQuarters of Bank of IndiaBank of IndiaBank of India is a state-owned commercial bank with headquarters in Mumbai. Government-owned since nationalization in 1969, It is India's 4th largest bank, after State Bank of India, Punjab National Bank and Bank of Baroda. It has 3415 branches, including 29 branches outside India...
- French Consulate and Trade Mission
- National Centre for the Performing ArtsNational Centre for the Performing Arts (India)The National Centre for the Performing Arts , in Mumbai, India was established with a grant of Rs 4 million from the Sir Dorabji Tata Trust. This was later supplemented by donations from the corporate sector...
(NCPA) - Mittal Towers
- Vidhyan Sabha
- Consulate of OmanOmanOman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
, Qatar - Birla Bhavan
- Bajaj Bhawan
- simplex Group of Companies
- DSP Merrill Lynch
- Bank of AmericaBank of AmericaBank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
- IndiaBulls
- Shah Investors home limited
- Howrah Mills Co Ltd
- HR Group
- SpencerStuart
- Reliance Capital Asset Management(Reliance Mutual fund)
- SMC -SAM GLOBAL
- Tata Consultancy Services Ltd.Tata Consultancy ServicesTata Consultancy Services Limited is a global IT services, business solutions and outsourcing company headquartered in Mumbai, India. It is the largest provider of information technology in Asia and second largest provider of business process outsourcing services in India...
- Union Bank of India
It is widely regarded as the 'Manhattan' of Mumbai and it boasts of a spectacular skyline and pricey residential condos. It is also the main financial district of Mumbai and houses most of the financial services and brokerage companies—both Indian and international. It is also the location for the Vidhan Bhavan which is the political headquarters of the state of Maharashtra.
Other Business Districts of Mumbai
- Fort (Mumbai precinct)Fort (Mumbai precinct)Fort is a business district in Mumbai, India. The area was the heart of the city during the 18th century. The area gets its name from the defensive fort, Fort St. George, built by the British East India Company around Bombay Castle...
- ColabaColabaColaba is a part of the city of Mumbai, India, and also a Lok Sabha constituency. During Portuguese rule in the 16th century, the island was known as Candil...
- CBD BelapurCBD BelapurCBD Belapur is the third most developed node of Navi Mumbai after Vashi and Nerul. CBD Belapur has a fairly vibrant Central Business District that is moving some of the economy out of congested central Mumbai into the hinterland. Belapur is also one of the largest assembly constituencies from this...
- VashiVashiVashi is an upmarket residential as well as commercial township in the city of Navi Mumbai. It is a premier city in Navi Mumbai and was one of the first "nodes" developed by CIDCO.-Populace:...
- WorliWorli-History:Worli was one of the original seven islands that constituted the city of Mumbai. Although primarily a fishing village, the Worli Fort, a British fort that is now in ruins, is located there. Its original resident was the legendary Dishankeshwar Kalsi who has also been recognized in several...
- Bandra-Kurla ComplexBandra-Kurla complexThe Bandra Kurla Complex is a planned commercial complex in the suburbs of the Indian city of Mumbai . According to MMRDA, the complex is the first of a series of "growth centres" created to "arrest further concentration" of offices and commercial activities in South Mumbai...