Uday Kotak and family buy entire building of 22 flats in Mumbai’s Worli for over ₹400 crore
Uday Kotak and family have acquired an additional 10 sea-view apartments in Mumbai's Worli for a maximum price of ₹2.89 lakh per sq ft
Uday Kotak, founder of Kotak Mahindra Bank, and his family have bought the entire building of 22 flats in Mumbai’s Worli for over ₹400 crore. In the latest transactions, they have acquired 10 additional sea-facing apartments for over ₹200 crore in the Shiv Sagar Building. One of the transactions was recorded at a maximum price of ₹2.89 lakh per sq. ft., according to property registration documents.
In January 2025, the family made headlines by purchasing 12 apartments in the same building for ₹202 crore. In total, the Kotak family has acquired 22 apartments in the building for over ₹400 crore, as per property records.
This transaction not only sets a new benchmark in real estate prices but also stands out as a unique deal, with the family purchasing an entire building. According to local brokers, the outright purchase of an entire housing society is a very rare phenomenon in the Mumbai real estate market.
In 2024, Rekha Jhunjhunwala made headlines for buying units in a building to ward off any obstruction to the vista of the Arabian Sea from her Malabar Hill home. The Kotak family's acquisition, on the other hand, is expected to facilitate the expansion of their residence on the adjacent plot, said real estate experts.
Vicky Arora, a real estate consultant from Worli, stated, "For high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNWIs), it’s not just about additional space. There have been cases where HNIs buy adjacent plots or homes to prevent any construction nearby that could disrupt their privacy, view, or peace of mind. However, the primary reason for acquiring neighbouring plots is typically to combine them and create extra space for the family."
The Shiv Sagar building that Uday Kotak and his family have acquired is adjacent to Champagne House that was acquired in 2018 for ₹385 crore. According to a Mint report published in 2018, Uday Kotak and his family purchased a sprawling bungalow at Worli Sea Face owned by Ranjit Chougule, executive of the defunct wine firm Indage Vintners, for ₹385 crore.
Property registration documents accessed by Zapkey.com show that the 13 separate transactions were registered on January 30, 2025, February 25, 2025 and one apartment on September 5, 2024. The documents showed that the 13 apartments have carpet areas between 173 sq ft and 1,396 sq ft, for a total of 7,418 sq ft.
Further, property registration documents accessed by IndexTap.com for 10 apartments show they were purchased for a total of over ₹188 crore, with apartments ranging from 444 sq ft to 2,200 sq ft. The documents show that these 10 apartments were registered between March 5, 2025, and April 21, 2025.
Also Read: Oberoi Realty sells 2.1 lakh sq. ft. of apartments worth ₹970 crore in Mumbai's Goregaon
Meanwhile, an email query has been sent to Kotak Mahindra Bank, where Uday Kotak is a non-executive director, but there was no response.
The building overlooks the Arabian Sea and the Mumbai Coastal Road. Worli is a posh locality which is home to several high-net-worth individuals.
