Mumbai: India's richest banker and Kotak Mahindra Bank founder, Uday Kotak, along with his family, has made a significant investment in Mumbai’s luxury real estate market by acquiring multiple properties at Shiv Sagar CHS, an upscale residential complex on Worli Sea Face. According to property registration records accessed by IndexTap.com, the deals, amounting to Rs 202 crore, were finalized on January 30, 2025.
The purchase includes 11 apartments by Uday Kotak and his wife Pallavi Kotak, while other family members, including Jay Uday Kotak, Indira Uday Kotak, and Dhaval Uday Kotak, have also acquired units in the same building. The highest-valued apartment, spanning 1,396 sq. ft., was bought for ₹38.24 crore, reflecting a record ₹2.73 lakh per sq. ft., among the highest in the country.
The acquisitions at Shiv Sagar CHS, a coveted residential tower offering panoramic views of the Arabian Sea, are part of a broader real estate consolidation strategy by the Kotak family. The transactions also highlight the premium valuation of Worli, a prime South Mumbai locality known for its proximity to business hubs and high-end infrastructure.
In a separate but related transaction, Suresh Amritlal Kotak acquired a 753 sq. ft. flat in the same building for ₹19.94 crore, registered in September 2024, at a slightly lower ₹2.64 lakh per sq. ft.
With this latest acquisition spree, the Kotak family has further strengthened its footprint in Mumbai’s elite property market, setting new benchmarks for ultra-luxury real estate prices in India.
