Panchratna building: Iconic diamond hub turns into residences

Mumbai’s Panchratna shifts from diamond hub to homes as traders move to BKC and Surat, marking a rare revival of residential life in a prime real estate zone.

MUMBAI: In Mumbai, where ageing buildings standing on prime real estate are known to pass into the redevelopment maze, one structure built in 1972 has chosen a different path – that of reimagining its past instead of fading out.

Mumbai, India. April 14, 2026 - View of the Panchratna skyscraper near Charni Road Railway Station in South Mumbai, India. April 14, 2026. (Photo by Raju Shinde/HT Photo) (Raju Shinde)

The Panchratna building, a landmark near Opera House, which was once the centre of India’s diamond trade, with around 90% of the country’s diamond deals passing through it, has now returned to its original avatar – evidenced by the line of