Shah Rukh Khan's sea-facing apartment in Mumbai's Shree Amrit CHSL is making waves once again as new reports suggest that the property is set for redevelopment. Located on Carter Road, this prime real estate could see a major transformation, as society members have begun negotiating with real estate developers for a new and modern building project.
The 4,000-square-meter plot includes three wings, occupying more than 45,000 square feet of carpet area. Despite not being rented or occupied by the actor, the apartment has been well-maintained. It was originally purchased by Khan after his marriage to Gauri Khan and remains one of the few sea-facing properties on the popular Carter Road.
According to a developer who participated in the redevelopment bids, the location is highly coveted, with offers ranging between 110% to 120% additional area for the society members. Currently, the property is situated on leasehold land, and the building has been standing since the 1980s. The area sees sea-facing apartments with a per-square-foot cost between ₹1 lakh and ₹1.30 lakh.
The ongoing trend of redeveloping old structures on Carter Road follows a larger urban trend in Mumbai, where buildings constructed in the 1980s and earlier are being replaced with larger, modern structures. Residents of these old buildings are typically provided with larger apartments in the new building free of charge, while the developers profit from selling a portion of the new units.
As developers continue to make bids for the redevelopment, the property will undoubtedly undergo a significant transformation, changing the landscape of this iconic Mumbai location.
