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Mumbai’s real estate scene is set for a significant transformation as Sri Lotus Developers and Realty Limited has been appointed as the developer for a high-profile redevelopment project in Bandra West, one of the city’s most sought after and upscale neighborhoods. This announcement marks a major milestone for the company, signaling its expanding footprint in luxury redevelopment and urban renewal in prime locations.
Key Highlights of the Redevelopment Project
Sri Lotus Developers has been named the official developer for the redevelopment of the Shree Amrit Society on Carter Road, Bandra West, a project expected to be worth between Rs 1,500 crore to Rs 2,000 crore.
The redevelopment covers an estimated saleable area of approximately 1.35 lakh square feet, blending a mix of 4 and 5 BHK luxury residential apartments.
Existing society members will be allocated about 45% of the total constructed area as rehabilitation, while the remaining 55% will be available for sale by Sri Lotus Developers.
Notably, renowned Bollywood actor Shah Rukh Khan owns a sea-facing apartment in the society and is expected to receive a 2,800 sq ft 4 BHK unit in the redeveloped property.
The redevelopment project is slated to commence construction once the site is vacated, with an anticipated completion timeline of three to four years.
Urban Renewal and Modern Living
The redevelopment aims to provide modern and spacious accommodations while preserving the community ethos of the historic society. The project will usher in contemporary designs, advanced construction techniques, and premium amenities aligned with Bandra’s upscale urban lifestyle.
The increase in built-up area for existing flat owners is projected to be around 155%, significantly enhancing living space. The saleable flats are projected to be priced around Rs 1.50 lakh per square foot, reflecting the premium positioning of the development.
About Sri Lotus Developers and Realty Ltd
With a focus on ultra-luxury and luxury redevelopment projects, Sri Lotus Developers has carved a niche in Mumbai’s real estate market. The company adopts an asset-light business model based on development agreements with landowners, enabling capital-efficient execution while targeting high-margin projects in prime locations.
The firm has an impressive portfolio covering areas such as Versova, Juhu, Nepean Sea Road, Ghatkopar, and Andheri West, positioning itself as a leader in Mumbai’s luxury housing segment.
Strategic Importance of the Bandra Project
This Bandra redevelopment underscores Sri Lotus’s strategy to deepen penetration in high-value micro-markets while fully leveraging its expertise in redevelopment. The project is expected to set a benchmark for luxury urban redevelopment in Mumbai, combining heritage and innovation.
The choice of Sri Lotus as the developer reflects confidence in the company’s strong execution capability, brand equity, and understanding of the premium housing demand.
Market Impact and Future Outlook
The project is anticipated to enhance Bandra’s real estate inventory with contemporary luxury homes catering to affluent buyers, likely boosting local economic activity and real estate valuations. The redevelopment complements Mumbai’s broader urban renewal goals amid rising demand for modern residential solutions in premium neighborhoods.
Looking ahead, Sri Lotus Developers plans to expand its redevelopment footprint further in Mumbai and strategically scale offerings to meet evolving luxury residential preferences.
Conclusion
The appointment of Sri Lotus Developers and Realty Ltd as the developer for the Bandra West redevelopment project exemplifies the dynamic change underway in Mumbai’s luxury real estate sector. With a mix of expanded living spaces, premium amenities, and strategic execution, the project will rejuvenate a landmark locality and reinforce Sri Lotus’s position as a premier developer of upscale residential properties.
Sources: Hindustan Times, The Realty Today, Free Press Journal, Sri Lotus Developers official disclosures
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