Uday Kotak's Family purchases 12 Flats in Mumbai for over Rs. 200 Crore

According to property registration documents obtained by Zapkey.com, Uday Kotak and his family have paid Rs. 202 crore for 12 sea-facing flats in the Shiv Sagar Building in Worli Sea Face residential complex.

According to local brokers, these apartments were purchased for Rs. 2.71 lakh per square foot, which is the highest price ever paid for a residential transaction nationwide.

The structure has a view of the Mumbai Coastal Road and the Arabian Sea. A number of wealthy people call Worli, a fancy neighborhood, home.

The Kotak family spent more than Rs. 12 crore in stamp duty and a registration fee of about Rs. 3.60 lakh to buy the 12 properties, according to documents supplied by Zapkey.com. The ground, first, and second levels are occupied by the apartments.

According to the paperwork, the carpet areas of the 12 units range from 173 to 1,396 square feet, for a total of 7,418 square feet.

According to a Mint article, Uday Kotak and his family paid Rs. 385 crore in 2018 for a large mansion in Worli Sea Face that belonged to Ranjit Chougule, an officer of the now-defunct wine company Indage Vintners.

Market sources claim that the structure next to this cottage has these 12 additional apartments. Rekha Jhunjhunwala, the widow of the late billionaire stock investor Rakesh Jhunjhunwala, made headlines in 2024 when she bought nearly every apartment in a residential project in south Mumbai to prevent any obstructions to her Malabar Hill home's view of the Arabian Sea.

Just behind the sea-facing Rockside CHS, which was up for reconstruction, lies Jhunjhunwala's RARE Villa house. She reportedly paid Rs. 118 crore for 19 of the 24 flats since she thought the redevelopment may limit her villa's superb sea view.

According to registration documents obtained by Zapkey.com, family members and colleagues of D'Mart Founder Radhakrishna Damani purchased up to 28 home units in Mumbai's Worli in 2023 for a total of Rs. 1,238 crore, in what is arguably one of the largest real estate transactions in the nation.