The buzz around Shah Rukh Khan’s sea-facing apartment at Shree Amrit CHS, Carter Road, Bandra has brought fresh attention to how redevelopment feasibility is shaping Mumbai’s prime residential market. Beyond the celebrity angle, this project is a textbook example of how developers evaluate land potential, FSI utilization, and financial feasibility before moving forward with multi-crore deals.
The society, spread over 4,000 sq. m. (approx. 1 acre), has already appointed IPO-bound Sri Lotus Developers and Realty Ltd. as its developer. The project is expected to unlock 6 lakh sq. ft. of built-up area with a GDV (Gross Development Value) of ₹2,000 crore.
Using Archonet’s LandWise, we ran the redevelopment potential of Amrit Society through LandWise, our real estate feasibility tool, to understand which DCPR 2034 schemes apply, how much FSI can be leveraged, and what the financial outcome looks like for developers.
Why This Redevelopment is Significant
- Sea-facing plot on Carter Road – one of Mumbai’s most premium addresses.
- Large society with three wings, ~53 members – ensuring scale.
- 155% additional area for residents – showing the strong bargaining power of societies in prime localities.
- High sales velocity potential – Carter Road commands ₹1 lakh to ₹1.3 lakh per sq. ft. for seafront apartments.
In short, this is a dream redevelopment parcel, but also one that requires careful structuring under DCPR 2034 to balance rehabilitation commitments and saleable potential.
Project Context
- Location: Carter Road, Bandra (West), Mumbai
- Zone: Mumbai Suburban
- Plot Area: Assumed 4,300 sq.m. (Collector’s leasehold land, 2–5 plots)
- Abutting Road Width: 36.5m (eligible for higher FSI)
- Tenements: 53 flats, assumed existing rehab area ~5,300 sq.m.
- Market Price: ₹1.20 lakh/sq.ft (for sea-facing apartments in Bandra)
- Parking Requirement: Rehab – 117 cars; Sale – 63 cars; Assumed Additional proposed – 63 cars
Given its location and road width, 33(9) Cluster Redevelopment does not apply here. Instead, the feasible regulations are: 30(A), 33(7B), 33(11), 33(20B), Combination: 30(A) × 33(20B), Combination: 33(7B) × 33(20B)
FSI & Scheme Analysis
After inputting key details and existing tenements details, from the LandWise , here’s what is permissible:
| Applicable Scheme | Max BUA (excl. Fungible FSI) | Authority’s Share |
| 30(A) | 10,750 sq.m. | 0 sq.m. |
| 33(7B) | 10,750 sq.m. | 0 sq.m. |
| 33(11) | 17,200 sq.m. | 5,738 sq.m. |
| 33(20B) | 17,200 sq.m. | 5,738 sq.m. |
| 30(A) × 33(20B) | 17,200 sq.m. | 3,225 sq.m. |
| 33(7B) × 33(20B) | 17,200 sq.m. | 5,309 sq.m. |
The clear takeaway is that standalone 30(A) and 33(7B) offer limited FSI (~10,750 sq.m.) and hence restrict the developer’s sale potential. On the other hand, 33(11), 33(20B), and the combination schemes open up 17,200 sq.m. of BUA — a game-changer for project viability.
LandWise’s detailed Scheme comparison output looks like this.
Chosen Scheme – 33(7B) × 33(20B)
After analyzing the options, the 33(7B) × 33(20B) combination emerges as the most practical route and assumed scheme chosen by the developer. Here’s why:
- Higher Saleable Area: Unlocks 17,200 sq.m. BUA
- Authority’s Share: 5,309 sq.m. (to be shifted to another plot, easing the developer’s balance sheet)
- Parking: Feasible with podium/basement solutions (117 rehab + 63 sale + 63 additional)
- Rehab Area: Society members negotiated 155% extra area – almost double their current flats, a huge pull for tenant approval
- Market Advantage: With Bandra’s sea-facing rates at ₹1.20–1.30 lakh/sq.ft, premium inventory absorption is not a concern
To check FSI statement for the chosen scheme, click here and to check Regulation Summary, click here
Financial Feasibility (LandWise Outputs)
Based on sensitivity analysis, here’s what the numbers say:
- Total Revenue: ₹978.8 Cr
- Total Cost: ₹812.2 Cr
- Net Profit: ₹166.7 Cr
- Net Profit Margin: ~17%
Check Financial Summary here. Detailed Approval cost summary can be found here.
The numbers highlight that while redevelopment margins are not astronomical, the premium Carter Road location ensures both healthy returns and brand visibility for the developer.
The Gross Development value (GDV) of the project crosses 2000 Cr, considering rehab component to be worth more than 1000 Cr.
After the initial inputs and analysing outputs, you can use Sensitivity Analysis feature, wherein you can quickly check cost/revenue impact based on changing critical inputs.
Key Learnings for Developers
- Location Dictates Negotiation Power: Sea-facing plots command higher rehab ratios (155% in this case), compared to 40–60% in average suburbs.
- Regulatory Fit is Critical: Multiple schemes may apply, but the right choice can swing project viability massively.
- FSI is the Real Driver: With 36.5 m road width, max permissible FSI was unlocked, making the deal feasible.
- Market Absorption Matters: Carter Road sales velocity supports ₹1 lakh+ psf pricing, justifying the premium rehab offer.
- Developer Strategy: IPO-bound Sri Lotus Developers took this project likely because it adds both visibility and balance sheet heft.
Why This Case Matters for Developers
This redevelopment reflects the core challenge in Mumbai real estate:
- Choosing the right scheme under DCPR 2034
- Maximizing FSI utilization without overburdening costs
- Balancing rehab commitments vs. sale potential
- Factoring in authority share transfers
- Aligning pricing strategy with market absorption capacity
With LandWise, developers can test multiple scheme combinations in minutes — getting instant FSI statements, regulation summaries and financial summaries. Instead of weeks of manual feasibility work, the decision-making shifts to a few hours, helping developers quickly judge whether a project is a Go/No-Go.
Closing Thoughts
The redevelopment of Amrit Society on Carter Road is not just about Shah Rukh Khan’s flat — it’s a case study of Mumbai’s redevelopment market. The chosen scheme (33(7B) × 33(20B)) balances society expectations, regulatory compliance, and developer profitability.
For developers, the real lesson here is: every land deal needs rapid feasibility analysis before committing capital. With tools like LandWise, you can cut through regulatory complexity, model multiple scenarios, and focus on the deals that truly deliver value.
Check LandWise in action and see how you can evaluate your next redevelopment deal in minutes.