Kotak Mahindra Bank’s founder Uday Kotak and his family bought 12 sea-facing apartments for ₹202 crore in a residential complex at Mumbai’s Worli Sea Face area, reported the news portal, citing property registration documents from Zapkey.
The residential complex is named Sagar Building at Worli Sea Face. Local brokers said that these flats were purchased at ₹2.71 lakh per sq ft., which is the highest amount paid for a residential transaction in India, according to the news report.
Uday Kotak’s new apartment
The Sagar Building at Worli Sea Face overlooks the Arabian Sea and the Mumbai Coastal Road in a locality which is home to multiple high-net-worth individuals in Mumbai.
The documents reportedly showed that the Kotak family paid more than ₹12 crore in stamp duty to purchase the 12 apartments, paying a registration fee of nearly ₹3.60 lakh. The apartments are spread across the ground, first, and second floors of the residential complex, according to the news portal.
Apart from the one apartment for which the transaction was registered on September 5, 2024, 12 separate transactions were registered on January 30, 2025, as per the documents cited in the news report.
The carpet area of the properties ranges between 173 sq ft and 1,396 sq ft, for a total of 7,418 sq ft., according to the report.
Email queries from the news portal sent to Kotak Mahindra Bank remained unanswered.
Mint reported earlier that Billionaire banker Uday Kotak and his family in the year 2018 bought a bungalow at Worli Sea Face, which was previously owned by Ranjit Chougule, the executive of Indage Vintners, now the company is called Champagne Indage Ltd. The property was purchased for ₹385 crore.
The news portal also reported, citing people who were aware of the development, that these 12 new apartments are in a building next to this bungalow.
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