In a grand display of opulence and vision, eminent banker Uday Kotak has quietly etched his name in the chronicles of Indian real estate with the full purchase of a sea-facing residential marvel along Mumbai’s prestigious Worli stretch. This staggering acquisition, priced at over ₹400 crore, now stands as the highest-value residential property deal ever recorded in the nation.
The structure, known as 19 Shiv Sagar, is a modest ground plus two-storey building sitting gracefully on nearly two-fifths of an acre, right beside another property under Kotak’s belt, the Champagne House, which was acquired in 2018 for ₹385 crore. With this latest conquest, the visionary banker Kotak has secured ownership of all 24 units in the building.
His final sweep of eight apartments was registered in early and mid-April. The transaction values ranged from ₹12 crore to ₹27.59 crore for apartments measuring between 444 square feet and 1,004 square feet. These purchases alone amounted to ₹131.55 crore and catapulted the per square foot price to a historic ₹2.75 lakh, eclipsing his own previous benchmark of ₹2.72 lakh per square foot.
The grandeur did not end there. The most spacious apartment in the building, at 1,396 square feet, commanded a princely sum of ₹38.24 crore, while the smallest just 173 square feet was valued at over ₹4.7 crore. The elegance of location, with uninterrupted views of the Arabian Sea, elevated this structure into a symbol of premium living.
Before this series of landmark deals began in January, India’s highest known residential rates hovered at ₹2.25 lakh per square foot on Altamount Road and ₹2.09 lakh per square foot on Bhulabhai Desai Road, both nestled within the luxury quarters of South Mumbai.
Whispers now swirl around the future of this prized parcel. Will the Kotak family blend the newly acquired 19 Shiv Sagar with Champagne House for a magnificent redevelopment, or will the properties remain distinct jewels in Mumbai’s crown? That mystery, like the sea it overlooks, remains deep and unsaid.
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