Uday Kotak Sets National Record with ₹400 Crore Worli Sea Face Acquisition

Uday Kotak Makes Landmark Real Estate Purchase in Worli

Uday Kotak, the renowned founder of a href="_https://www.kotak.com/en/home.html" target="_blank">Kotak Mahindra Bank, has made headlines by acquiring an entire residential building on Mumbai’s prestigious Worli Sea Face for over ₹400 crore. This acquisition sets a new national record, with the Kotak family paying an unprecedented ₹2.72 lakh per square foot - the highest price ever recorded for a property transaction in India.

Consolidating Ownership Through Strategic Buyouts

The Kotak family strategically bought out existing residents over several months to consolidate full ownership of the two-storey Shiv Sagar building. According to property registration documents accessed via Zapkey.com, deals for 11 apartments were registered on January 30, with further transactions completed subsequently. The apartments vary in size from a compact 173 sq ft to a spacious 1,396 sq ft, with prices ranging from ₹4.7 crore to ₹38.24 crore, reflecting the premium nature of Mumbai’s luxury real estate market.

Adjacent to Champagne House: A Growing Real Estate Footprint

Shiv Sagar is located next to Champagne House, another iconic property the Kotak family acquired in 2018 for ₹385 crore from Ranjit Chougule, former managing director of Indage Vintners. Both properties cover two-fifths of an acre each and form a significant part of the Kotak family’s real estate presence along Mumbai’s coveted sea-facing coastline. It remains unclear whether these plots will be merged for a large-scale redevelopment or maintained separately for future projects.

Breaking Previous National Price Records

This acquisition surpasses previous national benchmarks set by South Mumbai’s Altamount Road and Bhulabhai Desai Road, where prices stood at ₹2.25 lakh and ₹2.09 lakh per square foot, respectively. The deal comes amid a booming luxury property market in Mumbai, which continues to lead India in terms of property values and high-profile transactions.

Mumbai’s Luxury Market on the Rise

Mumbai’s south and central districts have witnessed a surge in high-value real estate deals involving industrialists, top corporate executives, celebrities, and sports personalities. This vibrant market continues to set new standards for luxury living in India, with sea-facing properties like Shiv Sagar commanding exceptional demand and prices.^[8]

A Symbol of Confidence in Indian Luxury Real Estate

The Kotak family’s acquisition highlights the enduring allure of prime sea-facing properties and signals strong confidence in India’s luxury real estate sector. As Mumbai’s skyline evolves, such landmark transactions are expected to shape the future of urban luxury, setting new benchmarks for exclusivity, value, and ambition.