Nariman point in Mumbai
Nariman Point (Maharashtra)
|Founded by||Khurshed Nariman|
|Named for||Khurshed Nariman|
|• Type||Municipal Corporation|
|• Body||Brihanmumbai Municipal Corporation (BMC)|
|Time zone||UTC+5:30 (IST)|
|Vehicle registration||MH 01|
Nariman Point is a prominent downtown area of Mumbai in Maharashtra, India. Located on the southern tip of the Mumbai peninsula, at the end of the Mumbai's Marine Drive, Nariman Point houses some of India's prestigious business headquarters.
It is boarded by Churchgate in North, Arabian Sea on West and South, by Colaba on East side. It is one of the tourist attractions of Mumbai due to its skyline, Arabian sea view, Marine drive and lots of luxury 5 star hotels, restaurants.
Prior to 1940, the area was part of the Arabian sea. A popular leader of the Congress, Khurshed Nariman (affectionately called Veer Nariman), a Bombay Municipal Corporation corporator, proposed the land reclamation of the area of sea near Churchgate. To accomplish this task, the shallow seafront was filled with debris from various parts of the city. Reinforced concrete cement was also used, the steel for which had to be purchased on the black market at higher prices due to World War II.The entire cost was estimated to be ₹300,000 (equivalent to about ₹140 million in 2022). Additional reclamations were carried out in the 1970s. A construction boom in that decade also led to the development of commercial high-rises in the area.
In 2006, prior to the financial crisis of 2007–08, Nariman point was the seventh most expensive location in the world for office space. However, by December 2012 Nariman Point had fallen to 25th place while Delhi's Connaught Place remained the fifth most expensive location despite many offices moving to Gurgaon and Noida. During the same period, Nariman Point also dropped from seventh to fifteenth most expensive location for office rentals. The reasons for the decline were the high prices, lower quality and age of construction, and increasing distances from residential hubs which have now moved northwards and to the suburbs. In the first three quarters of 2012, Nariman Point had a vacancy rate of almost 25%, compared with 18% in the rest of the Mumbai city.
On 26 November 2008's evening Pakistan trained Lashkar-e-Taiba Islamic terrorist attacked Trident hotel and Oberoi hotel in this area. Both are the luxury hotels. The terrorist shot people with AK-47, thrown Grenades, the attack was part of larger Mumbai terrorist attack. In it terrorist killed 166 people and injured 238, and held the Taj Hotel on siege for 3 days. Mumbai police shot down one terrorist and apprehended Ajmal Kasab. National Security Guards killed 8 terrorist and ended the terror.
Air India had its headquarters in the Air India Building for many years.
Renewable Energy and Power companies Ind Renewable Enercy Ltd and Vakharia Power Infrastructure Ltd are headquartered at Regent Chambers, 208 Nariman Point, Mumbai.
At one time All Nippon Airways maintained its Mumbai sales office in the Oberoi Trident Towers in Nariman Point.