Uday Kotak seals a record-breaking property deal, buys entire building worth Rs…, India’s richest banker is now…

Uday Kotak's family has paid over Rs 12 crore in stamp duty and approximately Rs 3.60 lakh in registration fees for purchasing these apartments.

New Delhi: The founder of Kotak Mahindra Bank, Uday Kotak, and his family have made a major investment and purchased 12 apartments in a luxurious sea-facing residential complex in Worli, Mumbai. According to the reports, the total deal is reportedly worth Rs 202 crore. This means that the Kotak family has spent an average of Rs 16.83 crore per apartment. The building has a total of 24 apartments, some of which were previously acquired by the Kotak family. According to Forbes, Uday Kotak’s net worth stands at USD 13.8 billion.

All the apartments purchased by the Kotak family are located in the Sagar Building in Worli. The view of the Arabian Sea and the Mumbai Coastal Road from the apartment is absolutely mind-blowing. According to reports, these flats are priced at Rs 2.71 lakh per square foot, making it one of the most expensive residential property purchases in India.

Previously, properties on Altamount Road and Bhulabhai Desai Road in South Mumbai were sold at record rates of Rs 2.25 lakh and Rs 2.09 lakh per square foot, respectively.

Here are some of the key details:

• Uday Kotak’s family has paid over Rs 12 crore in stamp duty and approximately Rs 3.60 lakh in registration fees for purchasing these apartments.
• One apartment was registered on September 5, 2024, while the remaining 11 apartments were registered on January 30, 2025.
• The carpet area of these apartments ranges from 173 square feet to 1,396 square feet.
• In total, all 12 apartments together cover an area of 7,418 square feet.
• Earlier, in 2018, he purchased a luxurious bungalow for Rs 385 crore, which was previously owned by Indage Vintners executive Ranjit Chougule.
• Interestingly, the 12 new apartments bought by Kotak are located near the same bungalow.

Rising Demand in Luxury Real Estate

The real estate market in Mumbai is witnessing massive growth. Top businessmen, corporate executives, and celebrities are continuously making high-profile property deals in South and Mid Mumbai. This emerging trend is driving a significant surge in the market.

The recent deal by Uday Kotak and his family is setting a new benchmark for the luxury property sector in India.