India’s real estate market has witnessed yet another record-breaking transaction as billionaire banker Uday Kotak and his family purchased 12 luxury apartments in Shiv Sagar Building at Mumbai’s Worli Sea Face for a staggering ₹202 crore. This deal has set a national price record of ₹2.71 lakh per sq ft, making it the most expensive residential real estate transaction in India.
Inside the Landmark Deal
According to property registration documents accessed by Zapkey.com, the Kotak family’s latest acquisition includes 12 sea-facing apartments spread across the ground, first, and second floors of the building. The total carpet area of these apartments is 7,418 sq ft, with individual apartment sizes ranging from 173 sq ft to 1,396 sq ft.
The transaction details reveal that the family paid over ₹12 crore in stamp duty and an additional ₹3.60 lakh as a registration fee. While 11 of these transactions were officially registered on January 30, 2025, one apartment was registered earlier, on September 5, 2024.
Why This Deal is Significant
This purchase not only reinforces Worli’s status as one of Mumbai’s most luxurious residential neighborhoods but also sets a new benchmark for property prices in India. The area, home to numerous high-net-worth individuals, boasts stunning Arabian Sea views and proximity to Mumbai’s Coastal Road, adding to its exclusivity and appeal.
Kotak Family’s Expanding Real Estate Portfolio
This is not the first major real estate investment by the Kotak family. Back in 2018, they had acquired a sprawling bungalow at Worli Sea Face for ₹385 crore from Ranjit Chougule, an executive of the defunct wine company Indage Vintners. Market sources suggest that the newly purchased 12 apartments are in a building adjacent to this bungalow, further expanding the family’s footprint in one of Mumbai’s most sought-after locations.
Luxury Real Estate Market in Mumbai on the Rise
This deal signifies the growing demand for ultra-luxury properties in Mumbai, especially in high-end localities like Worli, Bandra, and Malabar Hill. The record price per square foot highlights how Mumbai continues to be the epicenter of India’s premium real estate transactions.
Final Thoughts
Uday Kotak’s latest property investment underscores the resilience and appreciation potential of Mumbai’s luxury real estate market. With rising demand for high-end properties and limited availability in prime locations, record-breaking deals like this may become more frequent in the near future.
Stay tuned for more updates on India’s luxury real estate market!
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