April 2025, Mumbai, The Pali Hill, Bandra, a residential complex of Bollywood star Aamir Khan, is about to undergo an upscale makeover. The Man Infraconstruction Limited (MICL), a listed real estate developer in India, plans to start the construction of the property by december 2025. This redevelopment project promises to be an ultra-luxury residential project in Mumbai. Aamir Khan owns about 12 apartments in the Virgo Cooperative Housing Society, which is being redeveloped as part of the project.
Atmosphere Realty, a joint venture between MICL, Wadhwa Group, and Chandak Group—three well-known names in Mumbai's real estate market—is carrying out the redevelopment. The housing society is situated in Bandra, one of Mumbai's most desirable residential neighborhoods, in the posh Pali Hill neighborhood.
Aamir Khan's Redevelopment Project Status
The developers and society members are actively coordinating the redevelopment project, which is presently in the approval and documentation phase, according to Manan Shah, Managing Director of MICL.
The project is in the approval stage while we and our partners are working on the documentation part with the society. The project where Aamir Khan owns apartments is now scheduled to open in December 2025, Shah told HT.com in a statement.
In December 2023, MICL further cemented its long-term vision for high-end residential development in Mumbai by announcing that one of its associate entities, which holds a 34 percent stake, would lead the redevelopment.
Stake of Aamir Khan in the Redevelopment Project
Aamir Khan is known as Mr. Perfectionist in making wise decisions, whether its work or real estate investments. Aamir Khan owns about 12 apartments in the Virgo Cooperative Housing Society. The actor and other current members of the community will be given rehabilitation units in the new luxury project as part of the redevelopment plan.
Khan also strengthened his position in the neighborhood by recently acquiring another Pali Hill property. The recently purchased apartment by Aamir Khar, is 1,027 square feet in size, cost more than ₹9 crore. According to property documents that Square Yards was able to access, the property deal was completed in June 2025 with a stamp duty of ₹58.5 lakh and a registration fee of ₹30,000.
This most recent acquisition demonstrates Khan's sustained faith in the Bandra-Pali Hill micromarket, which is sometimes known as the "Beverly Hills of Mumbai."
The Ultra-Luxury Market in Mumbai
Even though the Mumbai real estate market is still expanding gradually, sales of ultra-luxury properties specially those costing more than ₹1 lakh per square foot have been slow in recent months.
"Overall, sales have been very good for us," Shah said. The market for homes costing more than ₹1 lakh per square foot is, nevertheless, slowing down. Products costing ₹30 crore or more are moving more slowly.
He ascribed this to a small number of wealthy purchasers and the expanding practice of developers providing larger apartments, which further reduces the number of potential buyers.
"To be honest, we're not worried about the sales pace there," Shah continued. We are at ease because the project's cash flow is guaranteed, even in the event of a slow market. Slower sales are a normal part of doing business, and our goal is profitability.
This measured optimism is a reflection of MICL's long-term strategy and sound financial planning, which are particularly important in a specialized and cutthroat market like luxury housing.
More Details On The Upcoming Project in Pali Hill, Bandra
The new luxury project's location speaks for itself, even though specifics regarding its layout and design have not yet been made public. Pali Hill is well-known for its low-rise residential charm, abundance of greenery, and proximity to Bandra and Khar's business centers, celebrity residences, and fine dining establishments.
Renowned for their signature projects, MICL, Wadhwa, and Chandak are anticipated to contribute a blend of state-of-the-art architecture, first-rate amenities, and custom interiors.
Given Aamir Khan's involvement in the project and the well-publicized partnership between leading developers, the Pali Hill redevelopment is probably going to rank among Mumbai's most talked-about luxury real estate debuts in 2025.
End Note
The upcoming redevelopment, residential project in Pali Hill, Bandra, is set to be one of the most premium developments in Mumbai. This housing society of Aamir Khan stands as a promising project in the city’s luxury housing segment. This redevelopment project will be developed by MICL, Wadhwa Group, and Chandak Group, and the location of this project is in Mumbai’s most exclusive residential areas, the project will offers a perfect blend of celebrity appeal, location advantage, and elite living.
Although there are some short-term challenges facing the ultra-luxury market, long-term investor interest in micromarkets like Bandra and Pali Hill is still high. This project, which is anticipated to be completed by December 2025, has the potential to revolutionize high-end living in Mumbai.