Uday Kotak buys ₹400 crore Mumbai sea-facing property, sets new real estate price record: Report

Uday Kotak, the billionaire founder of Kotak Mahindra Bank, finalised the purchase of an entire residential building in Mumbai's Worli sea face for more than ₹400 crore, the Hindustan Times reported on May 5. 

The deal marks a new benchmark in the city's residential real estate prices, the publication reported, citing documents registered on April 8 and April 21, which were accessed by Zapkey.com.

According to the report, the latest deal was for 10 additional apartments in the sea-facing property of 19 Shiv Sagar in Worli, Mumbai at a cost of ₹200 crore. This comes after an report suggested that Uday Kotak's family had registered deals for 12 of the 24 apartments in the ground-plus-two-storey building in January for nearly ₹2.72 lakh per sq ft.

In what would be a benchmark transaction, one of the deals was set at a maximum price of ₹2.89 lakh per sq. ft., according to property registration documents, the HT report noted. 

How much did it cost?

The new deal sets the property price between ₹12 crore and ₹27.59 crore for the apartments, which have a carpet area of more than 444 sq ft to 1,004 sq ft. It overlooks the Arabian Sea and the Mumbai Coastal road in Mumbai's posh Worli area.

The recent eight transactions had a cumulative value of ₹131.55 crore, which makes the total deal worth more than ₹400 crore for the entire building, which is reportedly spread across more than two-fifths of an acre.

About the property

The Worli prime sea-facing property, 19 Shiv Sagar, is situated right next to the Champagne House. In 2028, the Kotak family acquired it from Ranjit Chougule, the managing director of the defunct wine company Indage Vintners, for ₹385 crore.

The biggest apartment at 19 Shiv Sagar is spread over 1,396 sq ft and was sold for ₹38.24 crore, and the smallest one, with a carpet area of 173 sq ft, was sold for ₹4.7 crore.

As per the reports, Kotak's Champagne House, which is spread across two-fifths of an acre, is now under redevelopment as the family’s new palatial house.

According to the report, it could not be determined whether the Kotak family is looking to merge the plots for redevelopment or keep them as two separate projects.

Email queries sent to Uday Kotak remained unanswered. LiveMint couldn't independently verify the report.

Mumbai has yet again proven its worth as the nation's largest and most expensive real estate market, which continues to scale new peaks. According to the report, Mumbai also registered the highest number of property transactions ever recorded in April 2025.