Carter Road Society in Mumbai to Undergo Major Redevelopment by Sri Lotus Developers
The Shree Amrit Society on Carter Road in Bandra, a prominent locality of Mumbai, is poised for a major transformation. Bollywood actor Shah Rukh Khan, who owns a sea-facing terrace apartment in the society, is among the beneficiaries of this redevelopment project. The project, spearheaded by Sri Lotus Developers and Realty, promises a 155 percent increase in space for the current homeowners once completed.
The society, which consists of 53 flats spread across three wings, occupies a 4,000 sq. metre collector’s leasehold plot. The buildings, constructed in the 1980s, have been in discussions with developers since July 2024. According to the society, the residents are expected to vacate the premises within six to eight months, with the construction phase estimated to take around three years, plus a six-month grace period.
The redevelopment project covers a sea-facing acre of land, with a total built-up area of six lakh sq. ft. The estimated development value of the project is a staggering Rs 2,000 crore. This ambitious project aims to not only enhance the living conditions of the current residents but also to transform the area into a modern, high-value residential zone.
Sri Lotus Developers, known for their expertise in urban redevelopment, have been chosen to spearhead this project. The company has a strong track record of successful projects in Mumbai and other major cities. The redevelopment will include state-of-the-art amenities, modern infrastructure, and a focus on sustainability and environmental friendliness.
For the residents of Shree Amrit Society, the redevelopment offers a significant upgrade in their living conditions. The 155 percent increase in space will provide more comfortable and spacious homes, which is particularly valuable in a highly sought-after area like Bandra. The project is expected to set a new benchmark for redevelopment in Mumbai, potentially inspiring other societies to follow suit.
The Noida Authority has also adopted a Mumbai-inspired redevelopment policy to revamp EWS (Economically Weaker Sections) housing, further highlighting the growing trend of urban renewal and redevelopment in major cities across India. This policy aims to improve living conditions for lower-income families and create more inclusive and sustainable urban environments.
In conclusion, the redevelopment of the Shree Amrit Society on Carter Road is a significant step towards modernizing the Bandra locality and enhancing the quality of life for its residents. With the involvement of a reputable developer like Sri Lotus Developers, the project is poised to deliver substantial benefits and set a new standard for urban redevelopment in Mumbai.
