Uday Kotak, founder of Kotak Mahindra Bank, and his family have purchased 12 sea-facing apartments in Mumbai’s Worli area. The deal is worth Rs 202 crore, according to property registration documents. Eleven out of twelve flats were bought on January 30, 2025, while one was purchased on September 5, 2024.
Prime Location & High-Value Deal
The apartments are located in the Shiv Sagar Building, a premium residential complex on Worli Sea Face. The per sq ft rate of the flat is Rs 2.71 lakh, marking the highest recorded rate for a residential transaction in India.
Key Details of the Acquisition:
- Total Flats Purchased: 12
- Location: Shiv Sagar Building, Worli Sea Face, Mumbai
- Total Transaction Value: Rs 202 crore
- Per Sq Ft Rate: Rs 2.71 lakh (highest in India)
- Total Carpet Area: 7,418 sq ft
- Unit Sizes: Ranging from 173 sq ft to 1,396 sq ft
- Floors Covered: Ground, First, and Second floors
Mumbai’s Luxury Real Estate Boom
Worli remains one of Mumbai’s prime localities, home to several high-net-worth individuals. The Shiv Sagar Building offers a direct view of the Arabian Sea and the Mumbai Coastal Road, making it an attractive investment for luxury property seekers.
Stamp Duty & Registration Details
- Stamp Duty Paid: Over Rs 12 crore
- Registration Fee: Rs 3.60 lakh
Uday Kotak Family’s Real Estate Investments
This is not the first major real estate acquisition by the Kotak family. In 2018, they purchased a bungalow on Worli Sea Face worth Rs 385 crore. The newly bought apartments are in a building next to this bungalow, further consolidating their real estate presence in the area.
Impact on Mumbai’s Real Estate Market
The growing trend of high-value property investments by business leaders and celebrities continues to shape Mumbai’s luxury real estate sector. The demand for premium sea-facing properties remains strong, driving up valuations and making Worli one of the most sought-after locations in the city.
