New Delhi, May 5 -- The billionaire founder of Kotak Mahindra Bank, Uday Kotak, finalised the purchase of an entire residential building on Mumbai's Worli Sea Face region for more than Rs.400 crore. This marks a new benchmark in the city's residential real estate prices, reported the news portal Economic Times on Monday, May 5.

As per the report, the latest deal was for eight additional apartments in the sea-facing property of 19 Shiv Sagar in Worli, Mumbai.

The earlier reports suggest that Uday Kotak's family had registered deals for 13 of the 24 apartments in the ground-plus-two-storey building in January and September for nearly 2.72 lakh per sq ft.

The recent transaction set a new benchmark of nearly Rs.2.75 lakh per sq ft, accordi...