Mumbai-based listed developer Sri Lotus Developers and Realty Limited has announced plans to redevelop Shree Amrit Society on Carter Road, Bandra, in a project expected to generate ₹1,500–2,000 crore in revenue. The society is notable for housing a sea-facing apartment owned by Bollywood actor Shah Rukh Khan. The redevelopment is scheduled to launch in the first half of FY27.
According to Anand Pandit, Chairman and Managing Director of Sri Lotus Developers, the project will have a saleable area of approximately 1.35 lakh sq ft. Construction is expected to be completed within three to four years after the site is vacated. The project will include a mix of 4 and 5 BHK units, though final plans are yet to be confirmed.
The redevelopment plan allocates 45% of the total constructed area to existing society members as rehabilitation, while the remaining 55% will be available for sale by the developer. Post-redevelopment, each flat owner will receive an increase of around 155% in built-up area. Shah Rukh Khan is expected to receive a 2,800 sq ft 4 BHK apartment. Sale units are projected to be priced at approximately ₹1.50 lakh per sq ft.
Shree Amrit Society occupies a 4,000 sq metre plot with three wings on collector’s leasehold land. The society, built in the 1980s, has been under consideration for redevelopment for several years. A tender for redevelopment was floated in July 2024, attracting interest from multiple developers, including listed companies. The land parcel is sea-facing and spans roughly one acre along Main Carter Road.
The location places the society in proximity to several other prominent residential landmarks. Galaxy Apartments, home to Salman Khan, is approximately 2 km away, while Shah Rukh Khan’s Mannat bungalow at Bandra Bandstand is around 3 km from Shree Amrit Society. During the redevelopment process, Shah Rukh Khan and his family have temporarily leased two duplex apartments totaling 10,500 sq ft in the Puja Casa building at Pali Hill, Khar. These units will serve as their residence while renovation works proceed on their Mannat bungalow, which spans 27,000 sq ft.
The redevelopment of Shree Amrit Society forms part of a broader trend of high-value housing projects in Bandra, an area home to multiple Bollywood stars, including Salman Khan, Aamir Khan, Sanjay Dutt, Ranbir Kapoor, and Deepika Padukone. The project reflects the ongoing interest of developers in redeveloping older societies in prime Mumbai locations.
Gauri Khan, interior designer and wife of Shah Rukh Khan, has also recently been in the news for renting a 2 BHK apartment in Khar West for their staff, under a three-year lease starting at ₹1.35 lakh per month. This property is located within 100 metres of their temporary Pali Hill residence.
The redevelopment process in Bandra is subject to regulatory approvals, including municipal clearances, adherence to floor area ratio regulations, and compliance with leasehold land policies. Sri Lotus Developers, which was selected for the project in June 2025, will manage both construction and sales of surplus units, ensuring that the redevelopment aligns with current urban norms and provides modernized housing for existing residents.
Once complete, the Shree Amrit Society redevelopment will provide larger, modern units to residents, while creating premium residential inventory for sale in a prime Mumbai location. The project is also expected to set a benchmark for redevelopment in the city, particularly in high-value, sea-facing areas where older societies require modernization.
The initiative demonstrates the ongoing integration of redevelopment efforts with luxury residential projects in Mumbai, reflecting a balance between rehabilitating existing members and developing high-value saleable units.
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