Kotak Family Secure 12 Units in Prime Worli Location
In a landmark real estate transaction, billionaire Uday Kotak and his family have acquired 12 residential units in Mumbai’s upscale Worli area for a total of ₹202 crore. Documents accessed by property data platform Zapkey reveal that the Kotaks purchased these units in the Shiv Sagar building, a prestigious sea-facing property on Worli Sea Face, known for housing some of India’s most influential business figures.
At a price exceeding ₹2.7 lakh per square foot, the transaction is among the most expensive property deals ever recorded in Mumbai, reinforcing the city’s status as a high-value real estate market.
Breakdown of the Purchase
The acquisitions took place over a span of several months. The first unit, covering 735 sq ft, was purchased on May 9, 2024, while the remaining 11 units were registered on January 30, 2025. In total, the Kotak family has secured 7,418 sq ft of carpet area, spread across the ground, first, and second floors of the building.
The purchases have been made by Uday Kotak, his wife Pallavi, sons Dhawal and Jay, and his father Suresh, as per the transaction details.
Large-scale property acquisitions by high-net-worth individuals are not uncommon, particularly in prime real estate locations such as Worli. In some cases, buyers purchase an entire building to gain full ownership rights, allowing for potential redevelopment or personal use.
Given the Kotak family’s influence in the banking and financial sector, this deal highlights continued interest from ultra-rich individuals in Mumbai’s high-value residential market.
Uday Kotak’s Wealth
As the founder and former CEO of Kotak Mahindra Bank, Uday Kotak remains a significant force in India’s financial sector. Currently serving as a non-executive director, he continues to hold nearly 26% stake in the bank, which is ranked as the fourth largest private sector lender in India.
According to the Hurun Global Rich List (March 2023), Mr. Kotak was India’s 10th richest individual, with a net worth of $14 billion. The Kotak family had previously raised over ₹6,900 crore through a stake sale in 2020, further solidifying their financial position.
A New Benchmark
This purchase marks a significant milestone in Mumbai’s luxury real estate market, reinforcing Worli’s position as one of the most sought-after residential areas for India’s elite. The deal is expected to set new benchmarks for future property transactions in the city’s premium locations.
As Mumbai continues to attract high-value investments in real estate, the Kotak family’s acquisition stands out as a statement of exclusivity and long-term strategic ownership.
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