{"id":19458,"date":"2013-07-18T10:00:38","date_gmt":"2013-07-18T04:30:38","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=19458"},"modified":"2020-06-15T03:55:50","modified_gmt":"2020-06-14T22:25:50","slug":"nariman-point-the-manhattan-of-mumbai","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/nariman-point-the-manhattan-of-mumbai\/","title":{"rendered":"Nariman Point \u2013 The Manhattan of Mumbai"},"content":{"rendered":"

\"nariman-point\"The island city of Mumbai has many posh locations in its territory but Nariman Point is a place that stands out in the crowd. This is one such area of Mumbai that is created by men as it was originally a part of Arabian Sea and it was one man\u2019s idea to claim it from the Mighty Sea and use it to create new settlements. The name of this person was Khursheed Framji Nariman who was a Parsi by caste but a very creative thinker. He was the Corporator of Mumbai (Bombay at that time) Municipal Corporation. He was also known as Veer Nariman affectionately by people. As he thought, the shallow land was recovered from the Sea near Churchgate area and filled with the dumps (debris) collected from around the city. In the process reinforced concrete cement was used and the costly steel was imported at a quite higher price from black markets as it was the time of World War II. To create the entire space it took Rs. 300000 in the year 1940. The same amount values Rs. 10 crore today. It was huge at that time but all these efforts have given a new extremely premier central Business District to the city. Further reclamation was done from the sea in the 1970s as the demand for land was much higher by now and as a result the place saw birth of many commercial premium high rises.Presently Nariman Point is a premier Business District with the highest commercial real estate rental space in the entire world in the year 1995 as per the statistics. The value of per square foot at that time in Nariman Point was $ 175. By the year 2007 the price went up to a sky high level at $ 2488 per square foot. According to records a flat was sold at $8.62 million on 26th November 2007. This prime location of Mumbai houses some of the premium Business headquarters of country and you may be surprised to know that Nariman Point is the fourth most expensive office market in the world. Some of the business establishments in the area are as follows:<\/strong><\/em><\/p>\n