History of Nariman Point
HISTORY OF NARIMAN POINT
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.
Prior to 1940, the area was part of the Arabian Sea. Khursheed Framji Nariman was the one to propose the idea of converting the place into a business platform by reclaiming some part of the land. Khursheed Nariman, who was fondly called Veer Nariman, was an active Congress leader and served as a corporator to the Bombay Municipal Corporation. 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 World War II. The entire cost was estimated to be INR 3 lakhs (now INR 10 crores or INR 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.
Bombay was reshaped by the Hornby Vellard project, which undertook reclamation of the area between the seven islands from the sea. Along with construction of major roads and railways, the reclamation project, completed in 1845, transformed Bombay into a major seaport on the Arabian Sea. Bombay in the 19th century was characterized by economic and educational development. During the early 20th century it became a strong base for the Indian independence movement.
The following decades saw massive expansion of the city and its suburbs. In the late 1960s, Nariman Point and Cuffe Parade were reclaimed and developed.
Nariman Point was also being known as one of the major financial centre in Mumbai. Mumbai provided the initial lead in the IT industry. Despite competition from Bangalore, Mumbai has created a niche in the IT industry scenario of India. The Santacruz Electronic Export Processing Zone (SEEPZ) and the International Infotech Park (Navi Mumbai) offer excellent facilities to IT companies.
PRESENT DAY NARIMAN POINT
As already mentioned above, Nariman Point today is a premium business hub with some internationally renowned business, financial and industrial houses. Strewn with many skyscrapers, Nariman Point gives a stunning impression of Manhattan and therefore, had been designated as the ‘Manhattan of Mumbai’. All the major banks and their headquarters are located in this area. Also, it houses some major airline offices. One can find several extortionate residential condos, Mittal Towers, Birla Bhavan and Vidhan Bhavan, the political head office of the State of Maharashtra. Ever since it was built, Nariman Point has been eyed by investors and industrialists to have their offices set up there. Today, this place brags of the remarkable skyline, pricy residential apartments, big industrial houses and classy hotels.
Following are the renowned corporates located in Nariman Point:
- Indian Express
- Central Bank of India
- Mittal Towers, Air India
- Kotak Mahindra Group
- Headquarters of Bank of India
- Bank of America
- Birla Bhavan
- India Bulls
- French Consolate and Trade Mission
- British Consulate and British Library
- Bajaj Bhavan
- Tata Consultancy Services Ltd.
- National Centre for the Performing Arts (NCPA)
- Consulate of Oman, Qatar
- Maker Chambers