Connaught Place (Hindi: कनॉट प्लेस, (officially Rajiv Chowk) is one of the largest financial, commercial and business centers in Delhi. It is often abbreviated as CP and houses the headquarters of several Indian firms. Its surroundings occupy a place of pride amongst the heritage structures of the city. It was developed as a showpiece of Lutyens' Delhi featuring a Central Business District. Named after the Duke of Connaught, the construction work was started in 1929 and completed in 1933. It was renamed as the Rajiv Chowk after the late Indian Prime Minister Rajiv Gandhi. The Connaught Place of today is one of the most vibrant business districts of Delhi. But with the development have also come certain problems, like dispute over property rights, encroachments, haphazard development, unauthorized construction, traffic congestion and others.