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Aamir Khan's residence in Mumbai's Pali Hill is being redeveloped into a luxury housing project by Atmosphere Realty, a joint venture between MICL, Wadhwa Group, and Chandak Group. The Virgo CHS, where Khan owns 12 flats, will be replaced with upscale 4 and 5 BHK sea-view apartments priced above INR 1 lakh per sq ft. Set for launch by December 2025, the project includes a rehab section for current residents. Khan recently bought another Pali Hill property worth over INR 9 crore. Despite a slowdown in the ultra-luxury segment, developers are confident in the project's success amid strong demand in premium locations.
Bollywood actor Aamir Khan's residence in Mumbai's Pali Hill is set for a significant transformation. The Virgo Cooperative Housing Society, where Khan owns approximately 12 apartments, is being redeveloped into a luxury residential project by Man Infraconstruction Limited (MICL) in collaboration with Wadhwa Group and Chandak Group. The project is slated for launch by December 2025.
The redevelopment, managed by Atmosphere Realty a joint venture of the three real estate firms aims to replace the existing structure with upscale 4 and 5 BHK sea-view apartments. Each unit is expected to be priced above INR 1 lakh per square foot, positioning the project in Mumbai's ultra-luxury housing segment.
During the redevelopment phase, existing residents, including Khan, will be provided with units in the rehabilitation section of the project. In addition, Khan has purchased another property in Pali Hill, measuring 1,027 square feet and valued at over INR 9 crore, finalized in June 2024.
While the overall real estate market in Mumbai remains robust, developers have noted a slowdown in the ultra-luxury segment, particularly for properties priced above INR 30 crore. Despite this, MICL's Managing Director, Manan Shah, expressed confidence in the project's success, citing secured cash flows and a focus on profitability.
The redevelopment of Khan's residence reflects a broader trend of luxury housing projects emerging in Mumbai's prime localities, catering to a niche segment of high-net-worth individuals seeking premium living spaces.
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