Nariman Point, Mumbai

About

Overview of Nariman Point, Mumbai

Nariman Point, found in the middle of South Mumbai, is a top pick for both living and working due to its top spot, fancy services, and new building projects.

Rental Market

The rental market in Nariman Point has grown a lot. As of the first half of 2024, office rates jumped 52% since 2018, hitting ₹569 per sq ft, more than other big business spots like Bandra Kurla Complex (BKC), which only saw an increase of 20%. For homes, rents vary widely, with 3 BHK flats ranging from ₹2.5 Lac to ₹7 Lac depending on furniture, spot, and services.

Property Prices

Average property costs in Nariman Point come in at around ₹38,113 per sq ft, falling between ₹33,333 and ₹45,283 per sq ft. That's why it's one of Mumbai's costliest and most profitable real estate areas.

Infrastructure and Connectivity

Nariman Point enjoys better infrastructure with projects like Mumbai Metro Line 3 and the Mumbai Coastal Road. These changes aim to improve ties and make the area more appealing, helping its long-term success as a business spot.

Amenities and Lifestyle

The area is famous for its upscale flats, top shopping, and high-end eateries. It's a fully built area with easy access to many lifestyle services, making it a hot spot for businesses and families. The panoramic views, especially those facing the sea, enhance the area's appeal.

Residential and Commercial Demand

Nariman Point draws big demand for top-grade office spaces because of improved facilities and being a leading business center. Even with tough economic conditions, residential buys have hit over 1,000 units by 2023.

PropertyWala's Conclusion

If you're searching for property to buy or rent in Nariman Point, it’s a blend of luxury, a top spot, and strong growth potential. Yet, it's costly. With top amenities, connections, and beautiful sights, and on-going improvements, the area stays attractive for both investors and those seeking fancy homes. Even at a high price, the luxury, services, and views make it appealing for those who can afford it.

Nearby

  • Transport

    • Vidhan Bhavan (<1 km)
    • Colaba Bus Depot (~1 km)
    • Bharat Petroleum (~1 km)
    • Churchgate (~2 km)
    • Chhatrapati Shivaji Maharaj International Airport (~27 km)
    • Navi Mumbai International Airport (~37 km)

  • Shopping & Dining

    • Suzette (<1 km)
    • Status (<1 km)
    • Maker Arcade (~2 km)
    • MBPT Colaba Fish Market (~2 km)
    • Nature's Basket (~2 km)
    • admin dept (~3 km)

  • Healthcare

    • Dr. Amins Clinic (<1 km)
    • Indian Cancer Society (<1 km)
    • Apollo Pharmacy Colaba Mumbai (~1 km)
    • Maharashtra Agency Llp (~2 km)
    • CGHS Dispensary No.1, C.G.O. (~2 km)
    • Bombay Hospital (~3 km)

  • Education

    • K C College (<1 km)
    • Campion School (<1 km)
    • Elphinstone College (~1 km)
    • Sir David Sassoon Library (~1 km)
    • Jai Hind College (~2 km)
    • Cathedral & John Connon Senior School (~2 km)

  • Leisure & Entertainment

    • Brabourne Stadium (~1 km)
    • Royal Bombay Yacht Club (~2 km)
    • Horniman Circle Garden (~2 km)
    • Metro Adlabs (~3 km)
    • Willingdon Sports Club (~8 km)
    • Veermata Jijabai Bhosale Zoo & Botanical Garden (~8 km)

  • Services

    • NPT Branch ATM (<1 km)
    • Societe Generale (<1 km)
    • India Post (<1 km)
    • Nariman Point Fire Station (<1 km)
    • Mantralaya (<1 km)
    • Maharashtra Police Headquarters (~1 km)

  • Religious Places

    • Bowen Memorial Methodist Church (~1 km)
    • Jhulelal Mandir (~1 km)
    • Keneseth Eliyahoo Synagogue (~1 km)
    • Shree Munisuvrat Swami Jain Mandir (~2 km)
    • Navy Nagar Gurudwara (~4 km)
    • Juma Masjid (~4 km)

  • Business & Hospitality

    • Sarovar Park Plaza (<1 km)
    • Trident, Nariman-Point (<1 km)
    • Sassoon Docks (~2 km)
    • Mumbai Port Trust (~5 km)
    • Peninsula Business Park (~12 km)
    • Agastya Corporate Park (~27 km)
Places © OpenStreetMap contributors, Overture Maps Foundation * Distances from the centre of Nariman Point

Reviews

Nariman Point is the best place where you can get the best return on your investment. Today, residential property at Nariman Point is valued at Rs.90,000 per sq. ft. In comparison, commercial property is valued at between Rs.28,000 to Rs.35,000 per sq. ft. (depending on building to building, floor, view, condition, etc.). In short, commercial values are one-third that of residential. Efficiency of areas are maximum at Nariman Point.

Pros
  • Highest efficiency
  • Well Planned Area
  • Availability of good shopping centers, stores, cinema halls, schools
Cons
  • Parking seems to be an issue
Posted: by

Nariman point is the financial hub of Mumbai. Most of the properties here are are commercial. Many big corporates have offices at Nariman point. The famous trident hotel is also in Nariman point. It houses the Vidhan bhavan, Maharashtra chief minister's office. Inox cinema is also a very popular hangout. CR2 mall is a famous mall here. Bottomline, it is the Times square of Mumbai.

Pros
  • Vidhan bhavan
  • Trident hotel
  • CR2 mall
  • Financial hub of Mumbai
Cons
  • Very expensive
Posted: by
Nariman Point, Mumbai is rated 8 out of 10 based on 2 user reviews.
Disclaimer: The reviews are opinions of PropertyWala.com members, and not of PropertyWala.com.
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News

Air India Building at Nariman Point to House Maharashtra Government Offices

Lokmat Times · · Commercial

The iconic Air India logo has been removed from the Nariman Point tower as Maharashtra plans to shift the Chief Minister’s Office and departments there.

Key facts
  • The 23-storey sea-facing Air India Building at Nariman Point will be used for Maharashtra government offices.
  • The famous rooftop Air India logo, measuring 38 × 24 ft, was dismantled into 40 pieces by PWD workers over a week.
  • The Maharashtra government acquired the building for Rs 1,601 crore last month.
  • Chief Minister Devendra Fadnavis is set to shift his office from Mantralaya to the building.
  • Several departments currently outside Mantralaya will also be relocated there.
  • The move is expected to save the state around Rs 200 crore in annual rent.
  • The government currently rents nearly nine lakh square feet of office space in nearby areas because Mantralaya, built in 1955, lacks enough space.
  • The Chief Minister’s Office is planned on the top floor.
  • A new Cabinet Hall is planned on the 22nd floor, covering 13,363 square feet.
  • A review meeting on the project is scheduled in the presence of the Chief Secretary.
RBI seeks bids for ₹1,586-crore Nariman Point office

Hindustan Times · · Commercial

RBI has invited bids to build its new central office at Nariman Point on a 4.2-acre plot bought from MMRCL for ₹3,472 crore.

Key facts
  • Reserve Bank of India has started the process for a new central office building at Nariman Point, South Mumbai.
  • Estimated project cost: ₹1,586 crore.
  • Land parcel: 4.2 acres acquired from MMRCL for ₹3,472 crore in 2025; transaction registered in September 2025.
  • The site is expected to have development potential of nearly 16 lakh sq ft, including rehabilitation component; MMRCL earlier pegged it at 1.6 million sq ft.
  • The project title is “Development of New Central Office Building for Reserve Bank of India at Nariman Point, Mumbai”.
  • Execution mode: Design and Build basis through a two-stage, two-envelope techno-commercial bidding process.
  • RBI is inviting bids from empanelled design-and-build construction agencies.
  • Tender conditions: earnest money deposit of ₹31.72 crore; performance security of 5% of accepted contract value.
  • Construction period: 60 months, including the monsoon season.
  • The plot was earlier reserved for monetisation on a long-term lease basis; RBI later expressed interest in buying it.
  • The land previously housed offices of political parties, including the undivided NCP, and was vacated for the Vidhan Bhavan metro station.
  • Nariman Point remains a major commercial district with financial institutions, multinational companies, law firms and government agencies, despite competition from BKC.
Maharashtra acquires Air India building at Nariman Point

Business Line · · Commercial

The Maharashtra government bought the 23-storey Air India building in Nariman Point for ₹1,601 crore to house offices and cut rental costs.

Key facts
  • Maharashtra government formally acquired the Air India building in south Mumbai for ₹1,601 crore.
  • The 23-storey sea-facing commercial tower is at Nariman Point and was built in 1974 on state government-owned reclaimed land.
  • The property has over 45,000 sq m of area.
  • The transfer was completed between Air India Assets Holding Company Limited and the state Public Works Department in the presence of Chief Minister Devendra Fadnavis at Mantralaya after approvals from the state and central governments.
  • The building became a non-core asset of Air India after privatisation and was vested with Air India Assets Holding Limited.
  • The state had been negotiating since at least 2021 because of an office space shortage near Mantralaya.
  • In November 2023, the cabinet approved the purchase for ₹1,601 crore and waived about ₹298 crore in unrealised income and interest dues owed by AIAHL.
  • The Centre gave final approval in March 2024.
  • In April this year, the Finance Department transferred ₹1,600 crore to the PWD to finalise agreements.
  • The state plans to consolidate government offices in the building and reduce rental expenditure.
  • The PWD has been asked to conduct a comprehensive structural audit, complete necessary repairs, and then begin relocation of offices.
  • Interior renovation and development works will start only after structural safety issues are addressed.
  • Electrical systems, fittings and other technical infrastructure must meet high standards for quality and long-term sustainability.
  • The main entrance is to be redesigned to reflect Maharashtra’s heritage, with leading architects and expert agencies to be involved.
  • Administrative approvals for renovation are to be expedited and the project completed on time.
RBI buys Nariman Point land from MMRC for ₹3,471 crore

The Free Press Journal · · Commercial

RBI has acquired a 16,842 sq m Nariman Point plot from MMRC for ₹3,471 crore to build its new office, with ₹208 crore stamp duty.

Key facts
  • Mumbai Metro Rail Corporation Ltd. (MMRC) executed the sale deed with the Reserve Bank of India (RBI) for land admeasuring 16,842 sq m at Nariman Point.
  • RBI paid ₹2,871 crore for freehold ownership rights and ₹600.82 crore for exemption from providing rehabilitation area.
  • Total deal value: ₹3,471 crore.
  • The transaction was registered on September 5, 2025 and attracted stamp duty of ₹208 crore, according to CRE Matrix.
  • The plot is a 0.416-acre vacant land parcel in South Mumbai’s Nariman Point business district.
  • RBI intends to set up its new office building on the site.
  • The land was allocated by the Government of Maharashtra as plot nos. 1987 and 1988 to help MMRC meet a ₹1,000 crore real-estate monetisation target under Metro-3 project approval.
  • MMRC had invited bids earlier, extended the process due to tepid market response, and later pushed bid submissions back.
  • MMRC is using asset monetisation through commercial spaces and land parcels to raise revenue for the Colaba–Bandra–SEEPZ Metro Line 3 project.
  • The article also says the final stretch of Metro Line 3 is still awaiting Fire NOC and CMRS inspection before public opening.
RBI buys 4.2-acre Nariman Point land parcel

moneycontrol.com · · Commercial

The Reserve Bank of India has completed purchase of a 4.2-acre land parcel in south Mumbai’s Nariman Point for Rs 3,472 crore.

Key facts
  • The Reserve Bank of India completed the purchase of a 4.2-acre land parcel at Nariman Point, south Mumbai.
  • Deal value: Rs 3,472 crore.
  • The property is in Mumbai’s commercial Nariman Point neighbourhood.
  • The feed description says the RBI’s Fort headquarters is in Mumbai.
News items from other publishers are their reports, condensed; follow the link for the full report. PropertyWala.com is not their source.

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Locality ID
A213834111
PinCode
400021