Panchratna

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Panchratnam ('Panch' meaning Five and 'Ratna' meaning Jewels) 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 of Hong Kong or Tokyo.

See also : Nariman Point, Walkeshwar, Charni Road