Billionaire banker Uday Kotak and his family have made a record-breaking purchase in Indian lavish real estate by buying a sea-facing property in Mumbai’s Worli area for an astonishing price of ₹2.74 lakh per square foot.

Uday Kotak and his family are in the forefront of a noteworthy purchase of 10 ultra-luxury apartments in the prestigious 19 Shiv Sagar Building at Werli Sea Face. The total transaction amount for these apartments is ₹224.32 crore, which is staggering according to the registration documents obtained from real estate data provider IndexTap.

This is after the family bought 12 units in January 2025, giving the Kotaks control of 22 out of 24 units in the building. In the consolidation, the Kotaks have now spent 426.21 crore for this stretch of beachfront real estate.

In one of the recent purchases, an apartment worth 27.58 crore was added, which, with the 1,004 square feet of are,a translates to the India property 2,74,784 per square foot, which is currently India’s highest price per square foot. This not only beats Kotak’s benchmark of 2.71 lakh per square foot set earlier in January but also surpasses Kotak’s expectation of the ‘historical transaction center’ in his previous January deal.

The cost of other recently acquired units falls between the range of ₹2,71,796 and ₹2,73,933 per square foot, which indicates ultra-premium valuations across the building are consistent.