🏢 Shree Amrit Society (Shree Amrit CHSL) – A Bandra Landmark
Location & Structure
Shree Amrit Society, commonly known as Shree Amrit CHSL, is a well-established residential building located along Mumbai’s iconic Carter Road in Bandra West. Built in the 1980s on leasehold land from the collector, the society comprises three wings and spans over 4,000 m², offering nearly 45,000 sq ft of MOFA carpet area for its residents (hindustantimes.com).
Celebrity Connection
Among its notable residents is film superstar Shah Rukh Khan, who owns a sea-facing terrace flat in the building—purchased early in his marriage and maintained with sentimental value, though currently unoccupied and not rented (hindustantimes.com).
🔄 Redevelopment: Why Now?
Aged Infrastructure & FSI Opportunity
As with many Mumbai buildings from the 1980s, Shree Amrit has begun facing structural wear and aging. Coupled with updated FSI norms enabling taller and more spacious construction, residents stand to gain significantly through redevelopment—potentially doubling their current living space (110 %–120 % additional built-up area), especially coveted given the premium ₹1–1.3 lakh/sq ft rates for sea-facing apartments on Carter Road (hindustantimes.com).
Society Initiative
In July 2024, the society floated a redevelopment tender inviting real estate developers. Resident expectations are high to secure modern amenities, enhanced safety, and a fresh architectural vision that aligns with their upscale sea-facing locale (hindustantimes.com).
🏗 Sri Lotus Developers – The Chosen Hands
Celebrity-Backed Luxury Real Estate Developer
Mumbai-based Sri Lotus Developers and Realty, founded by Anand Pandit, specializes in luxury and ultra-luxury redevelopment in Mumbai’s western suburbs. The firm has backing from top Bollywood names, including Shah Rukh Khan’s family trust, Amitabh Bachchan, Hrithik Roshan, alongside notable financier Ashish Kacholia (business-standard.com).
IPO Support to Supercharge Ambitions
Sri Lotus has filed its Draft Red Herring Prospectus with SEBI, setting its IPO at ₹792 crore to fund upscale redevelopment initiatives. Of that, ₹550 crore is earmarked for ongoing projects like Amalfi, The Arcadian, and Varun, with the remainder for corporate purposes (business-standard.com).
The IPO received SEBI approval in May 2025, marking a luxury real estate push backed by Bollywood’s most influential stars (moneycontrol.com).
🧩 What Redevelopment Means for Residents
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Larger homes: Owners could receive up to 120% additional carpet area without extra purchase.
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Modern safety & sustainability: New construction would meet current building codes, include advanced earthquake-resistant design, fire safety, and energy-efficient utilities.
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Amenity upgrades: Potential for enhanced common spaces, security systems, parking facilities, and aesthetic upgrades befitting its sea-view privilege.
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Value uplift: Redevelopment often refreshes property value, aligning with rates as high as ₹1.3 lakh/sq ft on Carter Road.
✅ Key Dates & Next Steps
| Phase | Timeline |
|---|---|
| Tender floated by society | July 2024 |
| Sri Lotus IPO filing (DRHP) | Dec 2024 |
| SEBI approval for IPO | May 20, 2025 |
| Redevelopment discussions | Ongoing since early 2025 |
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Final agreement with Sri Lotus Developers is likely in progress, moving to approvals (RERA, MCGM, CRZ clearances).
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Society members will review layouts, compensation, and timelines before construction begins—possibly in mid-to-late 2025.
🌟 Why This Redevelopment Matters
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Celebrity endorsement – SRK’s residence gives the project prestige and aligns with residents’ aspirations for ultra-premium living.
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Bollywood-funded developer – Sri Lotus’s financial muscle (₹792 cr IPO) and celebrity backing enhance resident confidence.
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Upgraded coastal living – Redevelopment will rejuvenate Carter Road’s skyline while meeting modern coastal regulations.
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Mumbai trendsetter – It reflects Mumbai’s broader redevelopment wave, where aging buildings are reborn as modern high-rises.
✍️ Conclusion
Shree Amrit Society’s redevelopment isn’t just renovation—it’s a transformation. With Sri Lotus Developers at the helm, supported by a ₹792 crore IPO and top Bollywood stakeholders, residents stand to gain larger, safer, and luxurious homes along Carter Road’s prized coast. For readers of 123bhk.in, this showcases how legacy buildings can be reborn into world-class homes, preserving heritage with modern luxury.
- economictimes.indiatimes.com
- Image source https://x.com/teamsrkfc/status/1667578547828056065