Nariman Point

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Nariman Point
नरिमन पॉईंट
Central business district
Mumbai skyline.jpg
Nariman Point is located in Mumbai
Nariman Point
Nariman Point
Coordinates: 18°55′N 72°50′E / 18.92°N 72.83°E / 18.92; 72.83Coordinates: 18°55′N 72°50′E / 18.92°N 72.83°E / 18.92; 72.83
Country India
State Maharashtra
Metro Mumbai
Languages
 • Official Marathi
Time zone IST (UTC+5:30)

Nariman Point is Mumbai's premier business district and country's first central business district.[1] 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). Nariman Point hit a new high as a flat sold for a record $8.62 million (USD) on 26 November 2007 [1], at an astonishing $2488 (INR97,842) per square foot. According to the "Office Space Across the World 2012" report by Cushman & Wakefield, Nariman point is the 15th most expensive CBD in the world.[2] 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 25th most expensive office market in the world.[3]

History[edit]

Prior to 1940, the area was part of the Arabian sea. A popular leader of the Congress, Khurshed 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 INR3 lakhs or INR300,000 (now INR10 crores or INR100,000,000) Additional reclamations were carried out in the 1970s. A construction boom in that decade saw this region spurting many commercial high-rises.

'Nariman point(2012)'

Commercial establishments[edit]

Nariman Point
'Near the Sea wall at Nariman point, one can relax(2012)'
Office Name
Headquarters of Central Bank of India
The Royal Bank of Scotland - Global Banking & Markets[4]
Accenture Management Consulting
AZB & Partners in Express Towers
The Parthenon Group
Tata Asset Management Ltd
McKinsey & Company
Boston Consulting Group
R K Global
The Blackstone Group
Bain Capital
Monitor Group
Motilal Oswal Securities Ltd
State Bank of India
Kotak Mahindra Bank
JPMorgan
Howrah Mills Co Ltd
HR Group
Kotak Securities
Edelweiss Capital
Bakhtawar Tower
Gulf Airlines
Navy House
HSBC
Croma Zip
IITC
Life Insurance Corporation
INOX Leisure Ltd.
Zen Securities Ltd.
Export Credit GuaranteeCorporation of India Ltd.in Express Towers
Express Towers, home of the Indian Express newspaper
The Air India Building, Headquarters of Air India and National Aviation Company of India ltd.[5]
Maker Chambers
Trident, Nariman Point & The Oberoi Mumbai
Reserve Bank of India
British Consulate and British Library
Headquarters of Bank of India
French Consulate and Trade Mission
National Centre for the Performing Arts (NCPA)
SKP Group
Mittal Towers
Vidhyan Sabha
Consulates of Oman, Qatar
Birla Bhavan
Bajaj Bhawan
simplex Group of Companies
DSP Merrill Lynch
Bank of America
IndiaBulls
Shah Investors home limited
Spencer Stuart
Reliance Capital Asset Management(Reliance Mutual fund)
SMC -SAM GLOBAL
Tata Consultancy Services Ltd.
Union Bank of India
State Bank of Mauritius (2nd largest bank of Mauritius with 3 branches in India headquartered in Mumbai)
Legasis Partners
Legasis Services Private Limited

Manhattan of Mumbai[edit]

Cuffe Parade and Backbay Reclamation as seen from Nariman Point

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[edit]

References[edit]

  1. ^ Mumbai's Nariman Point bounces back! - Rediff.com Business. Business.rediff.com (2010-03-09). Retrieved on 2013-12-06.
  2. ^ Nariman Point drops 7 places to 15th spot in global office rentals - Times Of India. Articles.timesofindia.indiatimes.com (2012-02-22). Retrieved on 2013-12-06.
  3. ^ The slow but steady death of Nariman Point. Firstpost. Retrieved on 2013-12-06.
  4. ^ RBS (GBM) India. As of 25 April 2010.
  5. ^ "Address & Co|-ntact Numbers within India." Indian Airlines. Retrieved on 27 February 2010.

External links[edit]