Purchasing 1RK in old society like Moraj- What are chances of redevelopment in next 10 years?

I have some extra funds and I am getting an opportunity to buy a 1RK in Moraj for 50 Lacs negotiable. I won't be needing home loan as I already have funds. I stay in Navi Mumbai but will put 1RK for rent. I don't need the funds invested here back for the next 10 years. What are the chances of redevelopment in next 10 years. As per my info , Moraj was built in 2002 and OC in 2004 , so I think it has good chances of going for redevelopment in next decade. The buildings are 7 floor , as per new much increased FSI , the owners will get bigger units if there's redevelopment. Does this investment makes sense?