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Mumbai’s luxury real estate market just got another record breaking deal. Uday Kotak and his family have acquired 12 sea-facing flats in Worli’s Shiv Sagar building for a whopping ₹202 crore.
The transaction, one of the biggest in recent months, highlights the rising demand for prime properties in South Mumbai. According to property registration data, the Kotak family paid an average of ₹2.7 lakh per square foot for the flats, a price that underscores the exclusivity of the location.
The 12 apartments are spread across multiple floors of the Shiv Sagar building, which overlooks the Arabian Sea. The deal was finalised and registered recently, with stamp duty alone costing the family over ₹10 crore.
Luxury properties in Worli, especially those facing the sea, have become a hot favourite among business tycoons and celebrities. The area boasts top-tier amenities, high-end restaurants, and proximity to Mumbai’s central business districts.
This isn’t the first time the Kotak family has made headlines for a big-ticket property purchase. In the past, they have invested in premium real estate in Mumbai, including properties in Bandra Kurla Complex and Nariman Point. Their latest acquisition signals confidence in the city’s high-end property market, where demand remains strong despite soaring prices.
South Mumbai continues to see a surge in luxury property deals. In recent years, prominent business families and Bollywood celebrities have snapped up multi-crore homes, particularly in Worli, Malabar Hill, and Bandra.
With Mumbai’s property rates hitting new highs, the Kotak family’s latest investment is yet another example of how the city’s elite are willing to pay a premium for exclusivity and a stunning sea view.
Who is Uday Kotak?
Uday Kotak is one of India’s most influential bankers and the founder of Kotak Mahindra Bank, one of the country’s leading private sector banks. Starting his career in the early 1980s with a small financial services firm, he transformed it into a banking powerhouse. In 2003, Kotak Mahindra became the first non banking financial company (NBFC) in India to receive a banking licence from the Reserve Bank of India (RBI), marking a turning point in India’s financial sector.
Known for his sharp business acumen, Kotak played a crucial role in reshaping India’s banking industry. Under his leadership, Kotak Mahindra Bank grew into a multi-billion-dollar institution, offering services in retail and corporate banking, asset management, insurance, and investment banking. He stepped down as the bank’s CEO in 2023 after nearly two decades at the helm but continues to be a key figure in financial circles.
Beyond banking, Kotak is also known for his strategic investments in real estate and other sectors. His latest acquisition of luxury apartments in Mumbai’s Worli reflects his continued interest in prime assets. A vocal advocate for economic reforms, he has often spoken about India’s financial growth and corporate governance.
