Panchratna
Encyclopedia
Panchratnam is a very famous building and a landmark in South Mumbai
, India
, near its Western Railway's Charni Road
Station. It was built in 1975. It has 25 floors with a unique design where the bottom six floors face the road, the seventh floor is a terrace and the remaining floors from eight to twenty five face the Arabian Sea, giving an excellent view of Queen's Necklace, Cuffe Parade, Nariman Point
, Marine Drive
, Chowpatty and Walkeshwar
.
The first six floors were designed to be commercial offices while the floors above the seventh floor were designed to be residential apartments. By early 1980s, most of the diamond market in Mumbai moved into the commercial offices, which drove up the demand for offices in nearby locations. Due to sustained high demand, the residential apartments were sold at commercial rates, where one residential apartment was converted into two or three commercial offices. In a decade, a local Mumbai newspaper estimated that the prices for each residential apartment was the most expensive residential real estate per sq. foot in all of Asia, including that of Hong Kong
or Tokyo
.
It was built by Sagar investment corporation owned by Shri Vidyasagar Gupta, Shri Jawaharlal Daftary and Shri Rameshbhai Daftary who also built the famous residential building Ridge Apartments at Malabarhill. All the families are successfully in the construction business and are well known in the diamond market. Shri Amrish Rameshchandra Daftary(Son of Rameshbhai Daftary) is a successful well-known builder in Opera House
, thus being well known in the entire diamond market. The family has had a tradition of being in the construction business.
was detonated outside of Panchratna. Although most of the offices were empty at the time of the explosion, as many as thirty individuals on the streets nearby were injured or killed by the blasts. The bomb was one of three detonated that evening in Mumbai
. Representatives of the diamond trade believed that the attacks specifically targeted their industry.
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, near its Western Railway's Charni Road
Charni Road
Charni Road is a railway station on the Mumbai suburban railway. The main significance of Charni Road station is that it is very near the Girgaum Chowpattibeach and Marine Drive promenade, a major destination for tourists in Mumbai...
Station. It was built in 1975. It has 25 floors with a unique design where the bottom six floors face the road, the seventh floor is a terrace and the remaining floors from eight to twenty five face the Arabian Sea, giving an excellent view of Queen's Necklace, Cuffe Parade, Nariman Point
Nariman Point
Nariman Point is Mumbai's premier business district and country's first central business district. It was named after Khursheed Framji Nariman, a Parsi visionary. The area is situated on land reclaimed from the sea. It had the distinction of having the highest commercial real estate rental space...
, Marine Drive
Marine Drive
Marine Drive is a 3-kilometre-long boulevard in South Mumbai in the city of Mumbai. It is a 'C'-shaped six-lane concrete road along the coast, which is a natural bay. The road links Nariman Point to Babulnath and Malabar Hill. Marine Drive is situated over reclaimed land facing west-south-west...
, Chowpatty and Walkeshwar
Walkeshwar
Walkeshwar is an affluent area in South Mumbai, India, at the north-western end of the Marine Drive loop, and is most famous for Walkeshwar Temple and Banganga Tank.-Etymology:...
.
The first six floors were designed to be commercial offices while the floors above the seventh floor were designed to be residential apartments. By early 1980s, most of the diamond market in Mumbai moved into the commercial offices, which drove up the demand for offices in nearby locations. Due to sustained high demand, the residential apartments were sold at commercial rates, where one residential apartment was converted into two or three commercial offices. In a decade, a local Mumbai newspaper estimated that the prices for each residential apartment was the most expensive residential real estate per sq. foot in all of Asia, including that of Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
or Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
.
It was built by Sagar investment corporation owned by Shri Vidyasagar Gupta, Shri Jawaharlal Daftary and Shri Rameshbhai Daftary who also built the famous residential building Ridge Apartments at Malabarhill. All the families are successfully in the construction business and are well known in the diamond market. Shri Amrish Rameshchandra Daftary(Son of Rameshbhai Daftary) is a successful well-known builder in Opera House
Opera house
An opera house is a theatre building used for opera performances that consists of a stage, an orchestra pit, audience seating, and backstage facilities for costumes and set building...
, thus being well known in the entire diamond market. The family has had a tradition of being in the construction business.
July 13, 2011 bombing
On July 13, 2011, at 6:55 PM, an improvised explosive deviceImprovised explosive device
An improvised explosive device , also known as a roadside bomb, is a homemade bomb constructed and deployed in ways other than in conventional military action...
was detonated outside of Panchratna. Although most of the offices were empty at the time of the explosion, as many as thirty individuals on the streets nearby were injured or killed by the blasts. The bomb was one of three detonated that evening in Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
. Representatives of the diamond trade believed that the attacks specifically targeted their industry.