Nitin Sindhu VY | Mumbai
Uday Kotak Acquires Entire Luxury Building in Mumbai’s Worli for Over ₹ 400 Crore
May 5, 2025– In one of the biggest real estate deals of the year, billionaire banker Uday Kotak has purchased an entire high-end residential building in Mumbai’s upscale Worli Sea Face area for over ₹400 crore. The acquisition solidifies Kotak’s position as a major player in Mumbai’s ultra-luxury real estate market.
Record-Breaking Deal
The Kotak family had already bought 13 out of 24 flats in the posh 19 Shivsagar building earlier this year. Now, they have acquired the remaining eight apartments, taking full ownership of the property. The latest transactions, registered on April 8 and April 21, were done at a staggering 2.75 lakh per square foot, setting a new benchmark for Mumbai’s real estate.
Property Details
- Total Flats Purchased: 21 (13 earlier + 8 now)
- Price Range: ₹ 12 crore to ₹ 38.84 crore per flat
- Largest Flat: 1,396 sq. ft. (sold for ₹ 38.84 crore)
- Smallest Flat:173 sq. ft. (sold for ₹ 4.7 crore)
- Total Cost of Latest 8 Flats: ₹ 139.56 crore
Strategic Expansion in Prime Real Estate
This acquisition is part of Kotak’s growing real estate portfolio in Mumbai. In 2018, the family had bought the iconic Shamdin House, adjacent to 19 Shivsagar, from wine tycoon Ranjit Chougule for ₹385 crore. Industry experts speculate whether the Kotaks plan to merge both properties for a mega redevelopment project or maintain them separately.
Mumbai’s Booming Luxury Market
Mumbai continues to dominate as India’s most expensive real estate hub, with Worli, Altamount Road, and Malabar Hill leading premium property sales. The city saw a surge in high-value transactions in April, with ultra-luxury apartments and penthouses in high demand among India’s elite.
What’s Next?
With this deal, Uday Kotak reinforces his influence beyond banking into prime real estate. Market analysts are keenly watching whether this signals further investments in Mumbai’s luxury property segment.
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