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Uday Kotak and Family Acquire 12 Luxury Apartments in Mumbai for ₹202 Crore

Uday Kotak, the founder of Kotak Mahindra Bank, and his family have bought 12 sea-facing residences in Mumbai's Worli district. The transaction is valued Rs 202 crore, according to property registration documents. Eleven of the twelve flats were purchased on January 30, 2025, with one purchased on September 5, 2024. Read on to learn more about these property deals. Uday Kotak and his family purchased homes at the Shiv Sagar Building, a high-end residential complex on Worli Sea Face. The flat's per-square-foot rate is Rs 2.71 lakh, the highest reported rate for a residential transaction in India. The units have a total carpet space of 7,418 square feet. Individual unit sizes range from 173 to 1,396 square feet. These properties are distributed on the ground, first, and second levels. Worli is one of Mumbai's most affluent neighborhoods, with many wealthy individuals owning homes there. The Shiv Sagar Building provides a direct view of the Arabian Sea and the Mumbai Coastal Road. According to property registration paperwork, the Kotak family paid stamp duty of almost Rs 12 crore and a registration fee of Rs 3.60 lakh. The Kotak family has made several large real estate purchases in the past. In 2018, they paid Rs 385 crore for a home on the Worli Sea Face. According to sources, the recently purchased apartments are in a building adjacent to the home. The growing trend of high-value property investments by business veterans and celebrities is having an impact on the Mumbai real estate market. The demand for premium sea-facing residences continues strong, driving up property values and elevating Worli to one of the city's most desirable locales.