Aamir Khan’s Pali Hill Housing Society Set for Ultra-Luxury Redevelopment by MICL, Launch Expected by December 2025

Bollywood superstar Aamir Khan’s residential property in Mumbai’s plush Pali Hill area is all set for a major transformation, as Man Infraconstruction Limited (MICL), in partnership with the Wadhwa Group and Chandak Group, gears up to launch a high-end luxury redevelopment project at the site. The redevelopment pertains to the Virgo Cooperative Housing Society, where Aamir Khan is reported to own approximately 12 apartments.

The project, spearheaded by MICL through its associate entity that holds a 34% stake in the venture, is currently in the approval and documentation phase. Speaking to HT.com, Manan Shah, Managing Director of MICL, confirmed that the project is expected to be launched by December 2025. “The project is currently under the approval stage, and we, along with our partners, are working on the documentation with the society. The target now is to launch the project where Aamir Khan owns apartments in December 2025,” he stated.

The redevelopment is being carried out under the banner of Atmosphere Realty, a joint venture comprising MICL, Wadhwa Group, and Chandak Group. As part of the rehabilitation agreement, existing residents, including Aamir Khan, will receive newly developed units within the project. Notably, Khan has also expanded his real estate footprint in the same locality by acquiring an additional 1,027 sq ft apartment for over ₹9 crore. The transaction, finalized in June 2025, incurred a stamp duty of ₹58.5 lakh and a registration fee of ₹30,000, as per documents accessed by Square Yards.

The new development in Pali Hill, known for its exclusivity and elite residents, is poised to become a landmark ultra-luxury residential offering in Bandra. MICL’s vision for the project includes large-format premium apartments, reflecting the rising preference for expansive living spaces among affluent buyers. However, the market dynamics in Mumbai’s ultra-luxury segment present a mixed picture.

While overall sales in the luxury housing segment have been robust, Shah acknowledged a slowdown in the niche market for properties priced above ₹1 lakh per sq ft. “Sales have been very good for us overall. However, there is some slowdown in the segment priced above ₹1 lakh per sq ft. Any product priced at ₹30 crore or more is witnessing slower movement,” he explained. He further elaborated that the limited pool of homebuyers in this price bracket and the trend of developers offering larger apartments have contributed to the sluggish pace of sales.

Despite this, MICL remains unfazed by the current market sentiment. “We’re not concerned about the sales pace there. Even if the market is slow, we’re comfortable because the project’s cash flow is secured. Our focus is on profitability, and slower sales are just a part of doing business,” Shah added, expressing confidence in the long-term viability and financial soundness of the Pali Hill redevelopment.

The project is expected to command premium pricing due to its prime location, luxurious design, and association with celebrity residents like Aamir Khan. With a launch timeline set for the end of 2025, this redevelopment is likely to make headlines not just for its scale and opulence, but also as a symbol of the evolving skyline of Mumbai’s most prestigious neighborhoods.