Shah Rukh Khan Flat to Expand 155 percent After Redevelopment

Mumbai’s old housing societies are increasingly undergoing redevelopment, offering residents the promise of larger, modern apartments.

The location significantly influences the extra space homeowners receive sea-facing buildings. For example, can see double or more in additional area, while less scenic locations may yield only 20-50 percent extra space, experts say.

Shah Rukh Khan's sea-facing flat in Carter Road's Shree Amrit Society is expected to increase by 155 percent after redevelopment, giving him access to a 2,800 sq ft 4 BHK. Vikram Modi, a real estate consultant from Mumbai, said, "If your building has a good sea view, you can get double the extra area after redevelopment." 

Key Highlights:

• Redevelopment in Mumbai can significantly increase apartment size, especially in sea-facing buildings
• Location, plot size, and FSI influence the extent of space gains for residents
• Legal safeguards and engaging experienced developers are crucial for a smooth redevelopment process

The system entails razing down old buildings and constructing new, bigger ones in their place, with residents frequently being given larger apartments at no cost as builders sell extra units in the new development for profit. Governments also generate revenue from FSI sales.

Nevertheless, experts note that location, plot size, allowed FSI, and developer prelude determine the degree of area benefits. "Redevelopment is a once-in-a-lifetime chance," maintained Satguru Builders' Sharan Babani, pointing to its importance in enhancing lifestyle and ensuring financial security.

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Prakkash Rohira cautioned “Procedural and legal safeguards are essential for homeowners. Homeowners need to engage their own lawyers and architects to protect interests since developers tend to come with draft contracts. It's important to know project details and ensure legal protection." Specialists suggest engaging experienced, well-known developers to guarantee quality and value retention in the long run.