Nariman Point, Mumbai's long-time central business district, has lost out to Bandra Kurla Complex (BKC) and Lower Parel in recent times. Taking this into consideration, the state government is now mulling over a plan to convert the erstwhile premiere location for businesses into a hub of culture and tourism by introducing a variety of options in cuisine, art, dance, music, theater, opera, fashion, literature and museums in the area. The state government has been aggressively pursuing Mumbai as the International Finance Centre (IFC), in BKC, on par with New York, London, Singapore and Tokyo, making the proposal for the transformation of Nariman Point crucial. The master plan for the proposed IFC will be released by the government in June.
A senior bureaucrat told DNA, "With BKC and Lower Parel taking over, Nariman Point is no more the center of attraction. However, the entire has tremendous potential for a cultural and tourism hub. It already has the iconic National Centre for Performing Arts and Queen's Necklace. There can be more such venues for performing arts, literature, fashion and cuisine. The government will prepare a blueprint after talking to stake holders."
Uday Kotak, Executive Vice Chairman and Managing Director, Kotak Mahindra Bank said culture is one of the significant features of any city being considered as an IFC. "Why can't the entire Nariman Point turn into a cultural hub and heart of Mumbai? It needs to be turned into a cultural centre for the new world," said Kotak. Sharing similar views, Leo Puri, Managing Director, UTI Asset Management Company, said Nariman Point was the best suited to be a cultural hub.
Anuj Puri, Chairman, ANAROCK Property Consultants, said, "While its 'changelessness' worked against it as a contemporary hub of offices, the same thing can work to its advantage in the cultural respect. In the age of developments, Nariman Point is an important area from the point of view of heritage which still reflects the British colonial ethos."
Niranjan Hiranandani, CMD, Hiranandani Communities said, "Nariman Point and Ballard Estate are predominantly office spaces. The new thrust will help them regain importance. With an international cruise terminal proposed in south Mumbai, these areas could be developed into a lifestyle destination with restaurants, retail and entertainment options targeting the tourist traffic that would be brought in by the cruise ships docking at the terminal."
