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'{{Use dmy dates|date=January 2019}} {{Use Indian English|date=January 2019}} {{Infobox settlement | name = Nariman Point | native_name = | native_name_lang = | other_name = | settlement_type = Business district | image_skyline = Mumbai skyline.jpg | image_alt = | image_caption = | nickname = | map_alt = | map_caption = | pushpin_map = Mumbai | pushpin_label_position = | pushpin_map_alt = | pushpin_map_caption = | coordinates = {{coord|18.926|N|72.823|E|display=inline,title}} | subdivision_type = Country | subdivision_name = India | subdivision_type1 = [[States and territories of India|State]] | subdivision_type2 = Metro | subdivision_name1 = [[Maharashtra]] | subdivision_name2 = Mumbai | established_title = <!-- Established --> | established_date = | founder = | named_for = | government_type = | governing_body = | unit_pref = Metric | area_footnotes = | area_total_km2 = | area_rank = | elevation_footnotes = | elevation_m = | population_total = | population_as_of = | population_footnotes = | population_density_km2 = auto | population_rank = | population_demonym = | demographics_type1 = Languages | demographics1_title1 = Official | timezone1 = [[Indian Standard Time|IST]] | utc_offset1 = +5:30 | postal_code_type = [[Postal Index Number|PIN]] | postal_code = 400021<ref name="pcode">{{cite web|url=https://pincode.org.in/400021|title=Pin code : Nariman Point, Mumbai |accessdate=9 February 2015|publisher=pincode.org.in}}</ref> | area_code = 022 | area_code_type = | registration_plate = MH 01 | blank1_name_sec1 = Civic agency | blank1_info_sec1 = [[Brihanmumbai Municipal Corporation|BMC]] | website = | footnotes = | demographics1_info1 = [[Marathi language|Marathi]] }} '''Nariman Point''' is a business district in [[Downtown]] [[Mumbai]]. Formerly the [[Central business district|prominent business district]] on India's west coast, Nariman Point yielded that status to Mumbai's [[Bandra-Kurla Complex]] in 2010.<ref name="MM">{{citation|author={{null|<!--not given-->}}|title=Why Nariman Point is running on empty|periodical=Mumbai Mirror (online edition)|date=17 December 2012|url=http://www.mumbaimirror.com/articleshow/17863545.cms?pageno=2}}.</ref> Prior to Nariman Point's development, Mumbai's business centre was at [[Ballard Estate]],<ref name="MM" /> which {{ndash}} like Nariman Point also {{ndash}} was built on land reclaimed from the sea. Located on the southern tip of the Mumbai peninsula, at the end of the Mumbai's [[Marine Drive, Mumbai|Marine Drive]], Nariman Point is named after [[Khurshed Nariman|Khursheed Framji Nariman]], a municipal corporator who had initiated the area's development as an extension to the [[Back Bay (Mumbai)|Back Bay]] reclamation. Nariman Point houses some of [[India]]'s prestigious business headquarters, and despite its decline (see [[#History|below]]), it remains one of the more expensive business districts in India, exceeded only by [[Delhi]]'s [[Connaught Place, New Delhi|Connaught Place]] and {{ndash}} since April 2012 {{ndash}} by Mumbai's own [[Bandra-Kurla Complex]].<ref name="Chadha">{{citation|last=Chadha|first=Sunainaa|date=21 December 2012|title=The slow but steady death of Nariman Point|periodical=First Post|url=http://www.firstpost.com/business/economy/the-slow-but-steady-death-of-nariman-point-562877.html}}.</ref> ==History== Prior to 1940, the area was part of the Arabian sea. A popular leader of the [[Indian National Congress|Congress]], [[Khurshed Nariman]] (affectionately called ''Veer'' Nariman), a [[Brihanmumbai Municipal Corporation|Bombay Municipal Corporation]] corporator, proposed to reclaim the area from the 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 {{abbr|{{INR}}300,000|equivalent to £{{formatnum:{{#expr:((300000 / 13.33)+50) round trunc-2}}}} or ${{formatnum:{{#expr:((300000*4.03 / 13.33)+50) round trunc-2}}}} in 1940}} (equivalent to about {{abbr| {{INR}}{{format price|{{#expr:{{inflation|US|{{#expr:(300000*4.03 / 13.33)}}|1940}}/{{INRConvert/CurrentRate|USD}}}} }}|around £{{format price|{{inflation|UK|{{#expr:(300000 / 13.33)}}|1940}}}} or ${{format price|{{inflation|US|{{#expr:(300000*4.03 / 13.33)}}|1940}}}} or {{Euro}}{{format price|{{#expr:{{inflation|UK|{{#expr:(300000 / 13.33)}}|1940}}/{{INRConvert/CurrentRate|GBP}}*{{INRConvert/CurrentRate|EUR}}}}}} |}} in {{CURRENTYEAR}}). 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.{{fact|date=January 2019}} In 2006, prior to the [[financial crisis of 2007–08]], Nariman point was the 7th most expensive location in the world for office space.<ref name="Chadha"/> However, by December 2012 Nariman Point had fallen to 25th place while Delhi's [[Connaught Place, New Delhi|Connaught Place]] remained the 5th most expensive location despite many offices moving to [[Gurgaon]] and [[Noida]].<ref name="Chadha" /> During the same period, Nariman Point also dropped from 7th to 15th most expensive location for office rentals.<ref name="TNN">{{citation|title=Nariman Point drops 7 places to 15th spot in global office rentals|date=22 February 2012|periodical=Times News Network|url=http://articles.timesofindia.indiatimes.com/2012-02-22/mumbai/31086386_1_expensive-office-location-mumbai-s-cbd-rentals}}.</ref> 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.<ref name="TNN" /> 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.<ref name="MM" /> [[File:Marine Drive.JPG|thumb|256px|Nariman Point]] [[File:1-20030101 38 Nariman point, Mumbai.JPG|thumb|'Near the Sea wall at Nariman point, one can relax(2012)']] [[File:The Oberoi Hotel in Mumbai 2015.JPG|thumb|Nariman point buildings at night.]] ==Economy== {{expand section|date=July 2016}} [[Air India]] had its headquarters in the [[Air India Building]] for many years. Ind Renewable Energy Ltd. formerly known as Vakharia Power Infrastructure Ltd. is headquartered at Regent Chambers, 208 Nariman Point, Mumbai.<ref>{{Cite news|url=https://www.bloomberg.com/profiles/people/16396588-jitendra-k-vakharia|title=Ind Renewable Enercy Ltd & Vakharia Power Infrastructure Ltd, Regent Chambers, Nariman Point, Mumbai|last=|first=|date=|work=Bloomberg|access-date=}}</ref> RenewSys India Pvt. Ltd. a [[Solar panel|solar PV module]], [[Solar cell|PV Cells]], EVA and Backsheet manufacturer has its headquarters at Jolly Maker Chambers No. 2, 225 Nariman Point, Mumbai. <ref>{{Cite web|url=https://www.fundoodata.com/companies-detail/RenewSys-India-Pvt-Ltd/133026.html|title=RenewSys India Pvt Ltd, Mumbai {{!}} Company & Key Contact Details {{!}} Fundoodata.com|website=www.fundoodata.com|access-date=2019-03-01}}</ref><ref>{{Cite web|url=https://www.bloomberg.com/profiles/companies/1311743D:IN-renewsys-india-pvt-ltd|title=Bloomberg - RenewSys India Pvt. Ltd.|last=|first=|date=|website=www.bloomberg.com|archive-url=|archive-date=|dead-url=|access-date=2019-03-01}}</ref> At one time [[All Nippon Airways]] maintained its Mumbai sales office in the [[Oberoi Trident Towers]] in Nariman Point.<ref>"[http://www.ana.co.jp/wws/uk/e/about_ana/corp_info/investor/stock_info/reports/images/1998/98j.pdf ANA Directory]" ([https://www.webcitation.org/6ir3fPVWe Archive]). [[All Nippon Airways]]. 1998. Retrieved on 9 July 2016. "Mumbai (Bombay) Room 2318 2320 The Oberoi Trident Towers Nariman Point Mumbai-400 021, India"</ref> == Notable Landmarks == <gallery> File:NCPA building, Nariman Point, Mumbai.JPG|NCPA building, Nariman Point File:SkylineNarimanPoint.jpg|Skyline Nariman Point File:Hotel-Ambassador Nariman-Point Bombay 2005.JPG|Ambassador Nariman-Point File:Cuff Parade 4m Nariman Point - panoramio (35).jpg|Nariman Point (Night) from Cuff Parade File:Cuff Parade 4m Nariman Point - panoramio (5).jpg|Nariman Point (Day) File:Nariman Point, Mumbai, Maharashtra 400021, India - panoramio (18).jpg|Nariman Point File:NCPA Apartments, Nariman Point, Mumbai.JPG|Nariman Point NCPA </gallery> ==References== {{reflist}} ==External links== {{portal|Mumbai}} {{Mumbai topics}} {{Tourist attractions in Mumbai}} {{Mumbai metropolitan area}} [[Category:Economy of Mumbai]] [[Category:Neighbourhoods in Mumbai]] [[Category:High-technology business districts in India]] [[Category:Central business districts in India]]'