Redevelopment of Aamir Khan's housing society: MICL plans to build a luxurious complex in Mumbai's Pali Hill by December 2025

By Bricksnwall | 2025-04-21

Bollywood star Aamir Khan owns up to 12 apartments on Mumbai's posh Pali Hill, which MICL, Wadhwa, and Chandak Group are planning to renovate.

By December 2025, the listed real estate developer Man Infraconstruction Limited (MICL) intends to open an ultra-luxury project in Bandra, Mumbai's affluent Pali Hill neighbourhood. Bollywood star Aamir Khan owns several homes in the Virgo Cooperative Housing Society, which is being redeveloped as part of the project.

We are working with our partners on the documentation with the society, and the project is presently at the approval stage. The project where Aamir Khan owns units is currently scheduled to begin construction in December 2025. MICL's managing director, Manan Shah, told HT.com…

The MICL declared in December 2023 that it will redevelop the project through one of its affiliated companies, in which it owns a 34 percent stake.

Along with the other current occupants, Bollywood actor Aamir Khan, who owns about 12 flats in the building, will also receive a unit in the project's restoration phase.

For more over ₹9 crore, Aamir Khan purchased a 1,027 square foot property in Bandra's exclusive Pali Hill neighbourhood. According to property registration papers that Square Yards was able to uncover, the transfer deed was finished in June 2025 and came with a ₹30,000 registration charge and a stamp duty of ₹58.5 lakh.

Sales of luxury homes in Mumbai's market are weak in the sector over ₹1 lakh per square foot.

Manan Shah claims that although overall sales have been robust, the ultra-luxury sector of Mumbai's real estate market is notably slow.

Overall, sales have been excellent for us. The market for homes costing more than ₹1 lakh per square foot is, nevertheless, slowing down. "Any product that costs ₹30 crore or more is moving more slowly," Shah stated.

Sales are slow, perhaps because everyone is building larger flats these days, but there aren't many purchasers in that price range," Manan Shah remarked.

The premium flats in their Pali Hill reconstruction project, which also involves redeveloping Aamir Khan's home complex, are anticipated to cost more over ₹1 lakh per square foot, according to Manan Shah.

However, Shah stated, "to be honest, we're not worried about the sales pace there." "The project's cash flow is guaranteed, so we're at ease even if the market is slow. We prioritise profitability, and slower sales are a natural byproduct of operating a firm.

Source: Hindustan Times