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Chemould Prescott Road was inaugurated on 2 February 2007. A privately owned commercial art gallery, it was started as a branch concern of Gallery Chemould, one of India's oldest (Est. 1963), leading contemporary art galleries, based in Mumbai. Founded by Kekoo and Khorshed Gandhy, the Gallery has the disctinction of having exhibited and represented the works of major artists, emerging from the first waves of India's modernist and contemporary art movements, in their first solo shows. Shireen Gandhy, Chemould's current director since 1988, is particularly interested art that displays an interdisciplinary approach to practice and media.

Chemould Prescott Road, equipped with state of the art facilities, is housed in a hundred year old British colonial building with high ceilings and the spectacular view of Mumbai's heritage architecture. It accommodates a central gallery area of approximately 5000 square feet and a smaller display area ensconced within the larger one ideally suited for showing artworks that require intimate viewing.