Aamir Khan's Building to be Redeveloped - MICL Undertakes Redevelopment of Virgo Society in Pali Hill, Bandra West

Man Infraconstruction Limited (MICL) has unveiled plans for a grand redevelopment project in the plush Pali Hill neighborhood of Bandra, Mumbai. This project, which is home to esteemed Bollywood actor Aamir Khan among others, is set to transform the area. The company, in a statement on December 29, shared that the redevelopment includes creating 50,000 square feet of saleable construction space, targeting an impressive revenue of Rs 500 crore.

MICL has outlined a vision for the plot, which spans 35,000 square feet, to feature opulent 4 and 5 BHK luxury apartments. The anticipated launch of this high-profile project is in mid-2024.

The redevelopment is being undertaken by an associate entity of MICL, wherein the company holds a 34 percent stake. This ambitious project revolves around the property owned by Virgo Co-operative Housing Society Limited in Pali Hill, Bandra West, Mumbai.
Aamir Khan, a notable resident of the Virgo Society, is set to receive an apartment in the rehabilitated segment of the redeveloped project.

Manan Shah, the Managing Director of MICL Group, has mentioned that the company has received a letter of intent from the society and is in the process of finalizing the development agreement. This will be followed by other necessary procedures, including obtaining RERA registration. Shah revealed that the sale component of the project would comprise sea-view 4 and 5 BHK apartments in the uber-luxury segment.

Shah further indicated that the expected price range for these luxurious apartments could start from Rs 18 crore, with some units priced above Rs 100 crore. The company is anticipating a per square foot price of around Rs 1.25 lakh, though final prices are yet to be determined.