by THO
Uday Kotak and his family members have purchased 12 sea-facing apartments for ₹202 crore in a residential complex named Sagar Building on Worli Sea Face, according to property registration documents accessed by Zapkey.com.
Local brokers said that these flats have been bought at a per sq ft price of ₹2.71 lakh, the highest amount ever paid for a residential transaction across the country,
The building overlooks the Arabian Sea and the Mumbai Coastal Road. Worli is a posh locality which is home to several high-net-worth individuals.
Documents shared by Zapkey.com show that the Kotak family paid over ₹12 crore stamp dutyto purchase the 12 apartments and a registration fee of around ₹3.60 lakh. The apartments are spread across the ground, first, and second floors.
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The 12 separate transactions were registered on January 30, 2025 except for one apartment for which the transaction was registered on September 5, 2024, documents show.
The documents showed that the 12 apartments have carpet areas between 173 sq ft and 1,396 sq ft, for a total of 7,418 sq ft.
In 2018, Uday Kotak and his family purchased a sprawling bungalow at Worli Sea Face owned by Ranjit Chougule, executive of the defunct wine firm Indage Vintners, for ₹385 crore, according to a Mint report. According to market sources, these 12 new apartments are in a building next to this bungalow.
Meanwhile, an email query has been sent to Kotak Mahindra Bank, where Uday Kotak is a non-executive director, but there was no response.
Other bulk deals in the Mumbai real estate market
In 2024, Rekha Jhunjhunwala, widow of the late billionaire stock investor Rakesh Jhunjhunwala, was in the news for having purchased almost all the units in a south Mumbai residential building to ward off any obstruction to the vista of the Arabian Sea from her Malabar Hill home in South Mumbai.
Jhunjhunwala’s RARE Villa residence is located right behind the sea-facing Rockside CHS, which was up for redevelopment. Sensing that the redevelopment could potentially restrict the prime sea view from her villa, she reportedly purchased 19 of the 24 apartments for ₹118 crore.
In what is perhaps one of the biggest property deals in the country, family members and associates of D’Mart founder Radhakrishna Damani had bought as many as 28 housing units worth ₹1,238 crore in Mumbai’s Worli in 2023, registration documents accessed by Zapkey.com showed.
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The apartments were purchased in a building named Oberoi Three Sixty West in Worli. According to the documents, the total carpet area bought by one of India’s top retailers, associates, and companies amounted to 1,82,084 square feet, including 101 car parks.
