Shahrukh Khan’s sea-facing apartment in the Shree Amirt CHSL building on Carter Road in Mumbai is expected to be redeveloped, market sources told HT.com.
According to market sources, Shahrukh owns a terrace flat in Shree Amrit CHSL on Carter Road.
A tender document floated by the society in July 2024 states that the plot size is over 4,000 sq meters, and it has three wings occupying over 45,000 sq ft of MOFA (The Maharashtra Ownership Flats (Regulation of the Promotion, Construction, Sale, Management, and Transfer) Act, 1963) carpet area.
The building was constructed in the 1980s on leasehold land of the collector, and the members of the society are currently in talks with several real estate developers to redevelop their society, sources told HT.com
“It’s one of the few buildings on Carter Road with a sea-facing view. Society residents hope to get double the area they currently occupy. There have been offers of even 110% to 120% extra area,” a developer who participated in the bid but does not wish to be named said.
According to a few developers, the per-square-foot rate of sea-facing apartments on Carter Road is around ₹1 lakh per sq ft, but it can go as high as ₹1.30 lakh per sq ft.
In another deal on Carter Road, Mumbai-based listed real estate firm Oberoi Realty announced in July 2024 that it has entered into an agreement to develop and redevelop land measuring approximately 2576 sq mtrs located at Carter Road, Bandra (West) area of Mumbai.
The company had said that it expects to generate a free sale component of around 40,000 square feet (RERA Carpet area) from developing and redeveloping the said land parcel.
What is redevelopment?
In Maharashtra, several old buildings, especially those comprising two to seven storeys, are being redeveloped.
The redevelopment of housing projects involves demolishing and replacing old structures with modern, bigger buildings subject to various norms. Residents in old buildings get larger apartments in the newer building for free, as the builder sells a certain number of apartments in the new building for a profit. The government, too, earns revenue by selling the floor space index (FSI) to the builder.
Shahrukh Khan’s flat in Shree Amrit building
According to a developer who did not wish to be named, Shahrukh Khan purchased the apartment in the Shree Amrit building after his marriage; therefore, it has sentimental value. The apartment has been maintained well, although he does not reside there, nor has he put it on rent.
The building is around 4 km from Shahrukh Khan’s current bungalow, Mannat, where he resides with his family at Bandstand.
Last month, the Maharashtra Coastal Regulatory Zone Authority (MCZMA) had discussed an application filed by Gauri Shahrukh Khan, wife of Bollywood star Shahrukh Khan, seeking to build two additional floors on the six-storey annexe behind their bungalow Mannat.
Shahrukh Khan’s wife, Gauri Khan, applied on November 9, with the Maharashtra Coastal Zone Management Authority (MCZMA) seeking to add two additional floors to the annexe, adding another 616.02 sq. meters to the total built-up area, according to a report published in the Hindustan Times.
Bandra is also home to several other Bollywood stars, including Salman Khan, Aamir Khan, Sanjay Dutt, Ranbir Kapoor, and Deepika Padukone.