The place derives its name from a local Shiva temple, and abode of Naag or the snake wound around Shiva's neck.

[2] In 2005, Nagpada was the location of the Sadaf Manzil building collapse.

[3] In April 2018, the Nagpada junction was beautified with a 25 metre national flag along with a mural dedicated to Bharat Ratna Abul Kalam Azad.

[4] The area was a meeting point for pre-independence gatherings and has witnessed many political movements during the pre-independence era.

It was designed by architect Hafeez Contractor and inaugurated by Mumbai Mayor Vishwanath Mahadeshwar.