Mumbai: The Gujarat-origin businessman and former CEO and MD of Kotak Mahindra Bank, Uday Kotak, and his family have acquired 12 sea-facing apartments in Mumbai’s Shiv Sagar Building on Worli Sea Face for ₹202 crore, according to property registration documents accessed by Zapkey.com.

Local brokers indicate that the per sq ft price of ₹2.71 lakh sets a national record for residential transactions. The building offers views of the Arabian Sea and the Mumbai Coastal Road and is located in the upscale Worli area, home to several high-net-worth individuals.

As per Zapkey.com, the Kotak family paid over ₹12 crore in stamp duty and a registration fee of approximately ₹3.60 lakh for the apartments, which span the ground, first, and second floors. The 12 transactions were registered on January 30, 2025, except for one recorded on September 5, 2024.

The apartments range from 173 sq ft to 1,396 sq ft in carpet area, totaling 7,418 sq ft. In 2018, Uday Kotak and his family purchased a bungalow at Worli Sea Face for ₹385 crore. The newly acquired property, 19 Shiv Sagar, sits on a two-fifths acre plot adjacent to Champagne House, the premium residence that the Kotak family purchased in 2018 for ₹385 crore from businessman Ranjit Chougule. The family has since transformed Champagne House into an ultra-luxurious home through extensive renovations.

An email query was sent to Kotak Mahindra Bank, where Uday Kotak serves as a non-executive director, but no response has been received. DeshGujarat