When Shree Amrit Society on Carter Road in Mumbai’s Bandra, where Shah Rukh Khan owns a sea-facing apartment, underwent redevelopment in June 2025, it was announced that the society's homeowners would receive 155% more area after the redevelopment.
Owing to this, once the building is redeveloped in the coming years, Shah Rukh Khan will be eligible to get a 4 BHK apartment of 2,800 sq ft, sources told HT.com
Experts say that the additional space granted in redevelopment projects varies and depends on several factors, including plot size, permissible FSI, and the developer’s offerings. Here’s a look at the percentage of extra area residents can typically expect, and the other key aspects they should keep in mind.
What is redevelopment?
In Maharashtra, several old buildings, especially those comprising two to seven storeys, are currently being redeveloped. Redevelopment of housing projects involves demolishing the old structure and replacing it with a modern, bigger building, subject to various norms.
Also, residents of the old building 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 in the open market. The government also earns revenue by selling the floor space index (FSI) to the builder.
1) Location plays a major role
{{/usCountry}}1) Location plays a major role
{{/usCountry}}According to real estate consultants, location plays a big role in the additional area ratio that homeowners of old housing societies receive.
"If your building has a good sea-facing view or sea view, you can get double or more than double the additional area after redevelopment. However, if the location is weak or average, there are transactions where existing residents get around 20% to 50% additional area," Vikram Modi, a real estate consultant from Mumbai's Juhu area, told HT.com
"Some residents are getting 60% extra space. In Worli Seaface, it gets even wilder. A society has shortlisted three developers, expecting 94% more area and full rent upfront, among other conditions. However, these offers aren’t for all societies. A few hundred metres can change everything - the deal, the price, the possibilities," as per a discussion on Zapkey’s Open House show.
2) An additional area also means additional cost
According to real estate consultants, homeowners in older housing societies across the Western Suburbs pay an average monthly maintenance fee of ₹1,500 to ₹2,000.
"However, with additional area in a condominium set up, the monthly maintenance also goes up, and so does the day-to-day actual maintenance of the house. Hence, homeowners should factor in this aspect during the negotiations for redevelopment," Modi said.
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3) Redevelopment is not just about the numbers
According to real estate developers, revamping old housing societies goes beyond calculating additional area or the corpus money offered. Several other factors play an equally important role in the process.
"Redevelopment is a once-in-a-lifetime opportunity. A chance to not just improve your flat, but to enhance your lifestyle, secure your financial future. So, before making a decision, homeowners should ask the right questions to their consultants or the developer about their track record, quality, delivery, design, and who will create a building that will hold value even after 20 years? This is because what you build today is not just for you, it’s a legacy for your children, for your society. and for your city," said Sharan Babani, promoter of Mumbai-based Satguru Builders.
4) Get legal experts on board
According to legal experts, housing societies planning redevelopment should hire their own lawyers and architects rather than depend on experts hired by the developer.
"Developers often approach housing society members with a draft development agreement. They may propose that their lawyer draft the agreement, for which the buyers may not have to bear legal costs. This is the first warning bell. It is imperative that housing societies appoint a lawyer and architect to understand the minute details of the project and safeguard their interests,” Prakkash Rohira, an advocate, who handles real estate-related cases at Bombay High Court, said.
5) Check the redevelopment track record of the developer
Homeowners should remember that redevelopment projects require specialised skill sets. They are different from constructing buildings on vacant land. "Flat owners should either go for branded developers or prefer someone local who has experience working in a particular area and project and has a previous track record to verify, legal experts told HT.com