South Mumbai
From Wikipedia, the free encyclopedia
South Mumbai, the southern-most precinct of the city of Mumbai, India, comprises downtown Mumbai and its adjoining business districts. It is the richest urban precinct in India, and houses most of the city's elite.
Geographically, South Mumbai lies at the southern corner of Salsette Island. Although, the constituency of South Mumbai extends from Mumbai Central to Colaba, most city residents use the term to refer to the downtown areas of Mumbai (still others consider South Mumbai to extend as far north as Dadar). The area is delimited on the east by Bombay Harbour, and on the west by the Arabian Sea.
South Mumbai is home to the Reserve Bank of India and the Bombay Stock Exchange. Its primary business districts are the Fort, Nariman Point and the Ballard Estate. Probably all the consulates, museums and old theatres are located in South Mumbai. Many leading Indian and foreign companies are headquartered here. Most of the nations top schools are located here, among them, the famous Cathedral and John Connon school
In South Mumbai, all utility services necessary for smooth commercial trade - such as an uninterrupted supply of power - are available around the clock.
Although land reclamation has allowed the southern-most tip of the district to double in size since the 1970s, the business districts face an acute shortfall of real estate. As a result, the real estate prices are among the top ten world-wide. In 1995 for instance, short-lease rates in Nariman Point were pegged at 22608 US$/m² (2100 US$/ft²) per year. In 2006 the rates stands at approximately 4300 US$/sqft. As a ratio to average per capita income, real estate prices in the business districts remain the most expensive in the world.
South Mumbai is also the home to several of the city's sporting grounds, including Brabourne Stadium, Wankhede Stadium, Cooperage, Azad Maidan and Oval Maidan.
