Will Shah Rukh Khan's apartment in Mumbai that faces the sea be redeveloped? What we know is as follows:

Members of the community are negotiating with real estate developers to renovate Shah Rukh Khan's seaside property in Mumbai's Shree Amirt CHSL. The land is more than 4,000 square meters in size.

A recent incident has made headlines regarding Bollywood actor Shah Rukh Khan's residence in Mumbai that faces the sea. Market reports suggest that the Mumbai flat in the Shree Amirt CHS building on Carter Road may be redeveloped.

Additionally, King Khan owns a terrace apartment in the Shree Amrit CHSL building. This apartment was purchased by Shah Rukh Khan following his marriage to Gauri Khan. A builder told HT that although the property has not been rented out or used by the star, it has apparently being kept up nicely.

According to HT, which cited a tender document released by the society in July 2024, this specific apartment, which is situated on a plot of more than 4,000 square meters, has three wings that take up more than 45,000 square feet of MOFA (The Maharashtra Ownership Flats (Regulation of the Promotion, Construction, Sale, Management, and Transfer) Act, 1963) carpet area.

"It's one of the few buildings on Carter Road with a sea-facing view," a developer who took part in the offer noted, highlighting the apartment's distinctive location. Residents of the society aspire to receive twice as much space as they now have. Offers of even 110% to 120% more space have been made.

Since the building was constructed in the 1980s on the collector's leasehold property, the society's members are currently contacting a number of real estate developers about redeveloping their organization. Interestingly, sea-facing residences on Carter Road can cost anything from ₹1 lakh to ₹1.30 lakh per square foot.

Redevelopment of Carter Road
These proposals for redevelopment follow an agreement to develop and redevelop land on Carter Road made by Oberoi Realty, a listed real estate company based in Mumbai. Oberoi Realty declared in July 2024 that it was embarking on a project in the Bandra (West) neighborhood of Mumbai, which would span approximately 2576 square meters and be situated on Carter Road.

For what reason are these societies being redeveloped?
Many older buildings are undergoing renovations, especially those that are two to seven stories high. This entails tearing down outdated buildings and replacing them with larger, more contemporary ones.

Residents of the older buildings receive free, larger flats in the newer building as a result of housing developments being redeveloped. This occurs because a specific number of units in the new building are sold, generating a profit for the builder.

When housing projects are redeveloped, outdated buildings are demolished and replaced with larger, more contemporary constructions that adhere to a number of regulations. Because the builder sells a set number of units in the new building for a profit, residents in older buildings receive larger apartments in the newer structure for free. By selling the floor space index (FSI) to the builder, the government also makes money.