After years of playing second fiddle to newer areas such as Bandra Kurla Complex and Andheri in Mumbai, Nariman Point, once the most coveted address in Mumbai and the country's first central business district (CBD), is bouncing back with a vengeance.
The Air India building has 22 floors overlooking the Arabian Sea. Many floors are already leased out to other companies and it represents one of the costliest commercial real estate in both the city and the country. Air India made losses of Rs 5,000 crore (Rs 50 billion) in 2008-09.
In two years, Mumbaikars will be able to take the waterway, forking out Rs 70 for a 45-minute journey between the city's commercial centre Nariman Point and its suburbs in Borivali, while enjoying the Arabian sea breeze. The high power committee chaired by Maharashtra chief secretary Johnny Joseph, in a meeting on Thursday, has finalised the bidding criteria for the ambitious passenger water transport project along the western coast of Mumbai.
The loss-making and debt-laden government carrier has earlier leased space in the 22-storey building to banks and offices but this will be first time that commercial eateries will be allowed in the premises.
Office redevelopment is emerging as a key growth frontier for developers as India's commercial real estate market shifts towards quality, sustainability, and capital efficiency. With land parcels scarce in central business districts (CBDs) and demand for Grade A offices remaining strong, developers and investors are increasingly turning to ageing office stock in prime locations to unlock value.
'All commercial and banking transactions happen in South Mumbai.'
Prime Minister Narendra Modi inaugurates the Navi Mumbai International Airport and a portion of the Mumbai Metro Line, marking significant improvements to transportation infrastructure in Mumbai.
A Maratha protest in Mumbai caused significant traffic disruptions, particularly in the southern and eastern parts of the city, impacting office-goers and students. Train services were also affected.
After being pummelled by heavy downpours at the start of the week, Mumbai witnessed a brief respite on Tuesday morning, with the island city recording an average rainfall of 106 mm in 24 hours, civic officials said.
South Mumbai received over 250 mm of rainfall in just 13 hours, leading to widespread flooding, disrupting train services, and causing house collapses. The heavy downpour flooded several low-lying areas, including Hindmata, King Circle, Dadar TT, Kings Circle, Parel TT, Kalachowki, and JJ Marg, leading to diversions and delays in BEST bus services. The suburban services of the Central Railway and Western Railway were also disrupted due to heavy waterlogging on tracks. At least five incidents of partial house collapses and 32 instances of tree falls were reported, though no injuries were recorded.
'I saw Bimal Roy's Devdas again a few years ago, almost 50 years after it had been made.' 'I found it very intelligently made; the scenes flowed so beautifully.' 'There is just one scene with both Suchitra Sen and me in the film, and it's beautiful.'
'If you watch songs like Acha Ji Main Haari Chalo Maan Jao Na, Lag Ja Gale or Jhumka Gira Re, you'll notice they're not just a distraction. There's a story unfolding within them.'
Maharashtra Deputy Chief Minister Eknath Shinde on Monday attributed early arrival of the southwest monsoon and heavy rainfall in a short span for the inundation of low-lying areas in Mumbai, which disrupted road and railway traffic.
'For 40 years, India valued only technical skills. IITs, coding -- that became everything.' 'Soft skills were sidelined. But those are the skills that will keep you employable now, not technical skills.'
Former Supreme Court judge Justice Rohinton Nariman has warned that events similar to the Jallianwala Bagh massacre could occur if the 'basic structure' doctrine of the Constitution is diluted. In his new book, 'The Basic Structure Doctrine: Protector of Constitutional Integrity,' Nariman argues that the 1973 Kesavananda Bharati judgment, which established the doctrine, is essential for protecting fundamental rights and preventing constitutional amendments that could lead to such tragedies. Nariman's concerns are echoed by Supreme Court judge Justice K V Viswanathan, who applauds the book for its "chilling clarity" and underscores the importance of the Kesavananda Bharati ruling. The book provides a detailed analysis of the doctrine and its implications, highlighting the robustness of the Kesavananda Bharati judgment and the lack of a compelling alternative theory.
'Rohit Sharma's victorious team will take a ride on an open-top bus in a parade from the National Centre for Performing Arts in Nariman Point to the iconic Wankhede stadium at 4 pm on Thursday evening, said a report in The Indian Express newspaper.
'There is a clear relationship between the Char Dham road widening and these landslides.' 'The situation has further worsened with the massive influx of tourists whose number are running into several lakhs per month.' 'No parameters have been laid down to control tourist inflow and the result is that the Char Dham yatra has seen a sharp escalation in accidents and loss of lives.'
The IMD issued a "Nowcast" warning, forecasting thunderstorms accompanied by lightning and intense spells of rain with gusty winds reaching 50-60 kmph at isolated places in Mumbai in the next three to four hours.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Let's take a look at some main spots that reported fall in rental prices.
The victory parade of the T20 World Cup winning Indian team finally commenced after a delay of more than two hours in Mumbai on Thursday.
The possibilities of this serviceable thriller are immense but the makers prefer to play it safe and hold back the daredevil in the diplomat's clothing, observes Sukanya Verma.
'The people of India have shown immense faith in the Tata group as they have never broken the trust of Indians.'
Shiv Sena (UBT) leader Aaditya Thackeray on Friday said the grand welcome accorded to the T20 World Cup winning Indian cricket team in Mumbai was also a message to the BCCI to never take away the final match of a major tournament from the country's financial capital.
The BJP's hyper-local campaign targeting the AAP's loyal base among the poor, along with Prime Minister Narendra Modi's depiction of Delhi's ruling party as "AAP-da" (disaster), proved decisive in the Delhi assembly elections. This victory marks the end of a 26-year drought for the BJP in the national capital. The BJP's campaign highlighted perceived failures in governance and corruption allegations against the AAP, while emphasizing its own welfare schemes. The party's focus on local issues resonated with voters, particularly the middle class and poor who were disenchanted with the AAP's performance. This win is a major setback for the AAP and the INDIA bloc, which has been on a losing streak after its strong performance in the Lok Sabha elections.
The Prime Minister has organised a reception for the team at his residence at 11 am.
Thousands of fans thronged the Marine Drive in south Mumbai to witness the victory parade of the Indian cricket team on Thursday evening.
The Maharashtra government has become the owner of iconic Air India building with the Union government approving transfer of the asset on Thursday. The Maharashtra government bought the Air India building at Nariman Point in Mumbai for Rs 1,601 crore. "GoI has approved transfer of Air India building, Mumbai of AI Assets Holding Company Ltd (AIAHL) to Government of Maharashtra (GoM) at consideration of Rs.1601 cr. GoM has agreed to waive dues of Rs. 298.42 cr, which would have been otherwise payable by AIAHL to GoM for this transaction," DIPAM secretary Tuhin Kanta Pandey said in a post on X.
India's first escalator, its shortest elevator, a terror attack, a rescue operation -- the building's seen a lot.
'Rohit and I, we've been trying this for so long. We always wanted to win a World Cup. Bringing the trophy back to Wankhede is a very special feeling.'
He was colourful. He was dramatic. He was The Master of His Craft. There never will be an editor as versatile as Pritish Nandy, notes Nikhil Lakshman.
Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects. The money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors, he added. "We will be approaching the capital market to raise funds for the four road projects... there will be an assured return of 7-8 per cent," Gadkari said while addressing a Ficci event.
Maharashtra government on Wednesday decided to acquire the iconic Air India building at Nariman Point in Mumbai for Rs 1,601 crore. The decision was taken at a meeting of the state cabinet in Mumbai. The meeting, chaired by Chief Minister Eknath Shinde, also decided to waive off around Rs 250 crore unrealised income and interest on the property, an official said.
To me he always symbolised the sincere, confident, face of a Bharat whose rise is unstoppable. Ratan Tata was a Rishi who was unquestioningly trusted by people who never saw him and never met him, asserts Tarun Vijay, the former BJP MP.
One can predict the future of the BJP and the Congress by the scenes outside the party offices in Mumbai and New Delhi
Simone Biles won the vault final on Saturday to clinch her third gold medal of the Paris Games, dominating the competition with her signature Biles II vault to beat Brazilian silver medallist Rebeca Andrade with American Jade Carey taking bronze.
It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point
Incessant heavy rain lashed Mumbai, prompting the meteorological department to upgrade the 'orange' alert to 'red' with effect from Wednesday night till Thursday afternoon, officials said.
Tension and fear engulfed the Nariman Point area on Thursday morning as terrorists took shelter in Trident Hotel (earlier called Oberoi), holding an undisclosed number of people hostage and engaging security forces in a fierce gun-battle.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances