In a landmark move for Mumbai’s luxury real estate market, Sri Lotus Developers and Realty Limited has announced a ₹2,000 crore redevelopment project at Shree Amrit Society on Carter Road, Bandra—home to Bollywood icon Shah Rukh Khan’s first sea-facing apartment. The project, set to begin construction by mid-2026, promises to redefine upscale living in one of the city’s most coveted coastal neighborhoods.
Project Overview And Scope
- The redevelopment will span a 4,000 square metre sea-facing plot comprising three wings, originally built in the 1980s on collector’s leasehold land
- The total saleable area is projected to be 1.35 lakh square feet, with construction expected to be completed within three to four years once the site is vacated
- Approximately 45 percent of the built-up area will be allocated to existing society members as rehabilitation, while the remaining 55 percent will be sold on the open market
- Apartments are expected to be priced at around ₹1.50 lakh per square foot, placing them among the most premium offerings in the city
Shah Rukh Khan’s New Residence
- Shah Rukh Khan, who purchased his apartment in Shree Amrit Society after his marriage, is expected to receive a 4 BHK unit of approximately 2,800 square feet post-redevelopment
- The actor and his family have temporarily relocated to two duplex flats in Pali Hill, Khar, while his iconic bungalow Mannat undergoes renovation
- Gauri Khan has also rented a 2 BHK unit nearby for staff accommodation, according to property filings
Design And Configuration
- The new building will feature a mix of 4 and 5 BHK luxury residences, subject to final architectural plans
- The design will incorporate modern amenities, sea-facing balconies, and high-end finishes tailored to affluent buyers
- The redevelopment is expected to include concierge services, wellness zones, and smart home integrations
Developer Credentials And Timeline
- Sri Lotus Developers, a listed real estate firm backed by Shah Rukh Khan’s family trust, Amitabh Bachchan, Hrithik Roshan, and investor Ashish Kacholia, was selected for the project in June 2025
- The company has received SEBI approval for a ₹792 crore IPO and is actively expanding its luxury portfolio across Mumbai
- Construction is scheduled to begin in FY 2026, with possession expected by FY 2029
Market Impact And Strategic Location
- The redevelopment is expected to generate a topline of ₹1,500–2,000 crore, making it one of the largest luxury residential projects in Bandra
- Carter Road’s proximity to prime landmarks—including Salman Khan’s Galaxy Apartments and Mannat—adds to the location’s prestige
- Real estate consultants note that homeowners in sea-facing societies often receive 100 to 155 percent additional area during redevelopment, depending on FSI and developer offerings
Conclusion
Sri Lotus Developers’ ₹2,000 crore transformation of Shree Amrit Society marks a defining moment in Mumbai’s luxury housing narrative. With Shah Rukh Khan’s legacy apartment at the heart of the project, and a design vision that blends heritage with modernity, the redevelopment is poised to set new benchmarks in urban living. As the city continues to evolve, Carter Road’s skyline is about to gain a new symbol of aspiration and architectural excellence.
Sources: Free Press Journal, Hindustan Times, ProjxNews.
