Man Infraconstruction Limited (MICL) is poised to unveil an ultra-luxury development in the prestigious Pali Hill area of Mumbai by December 2025. This initiative involves the redevelopment of the Virgo Cooperative Housing Society, where Bollywood star Aamir Khan possesses 12 apartments. As part of the rehabilitation plan, Khan will receive a unit alongside other current residents.
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Join Telegram ChannelThe project is being executed in collaboration with the Wadhwa and Chandak Group. Manan Shah, Managing Director of MICL, has indicated that the luxury apartments in this redevelopment are anticipated to be priced above ₹1 lakh per square foot. This pricing approach aligns with prevailing market trends, where luxury properties in sought-after locations are attracting premium valuations.
Currently, the luxury real estate sector in Mumbai is witnessing a slowdown in the segment exceeding ₹1 lakh per square foot. Manan Shah noted that while overall sales remain robust, there is a discernible lethargy in the ultra-luxury market. Nevertheless, the project aims to appeal to affluent buyers seeking opulent living spaces in prime areas.
Recently, Aamir Khan acquired an additional property in Pali Hill, spanning 1,027 square feet, for over ₹9 crore. This purchase underscores the actor’s ongoing commitment to Mumbai’s luxury real estate sector. Khan’s investments reflect his confidence in the city’s growth trajectory and the potential for property value appreciation.
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The Pali Hill development is expected to feature lavish apartments equipped with high-end amenities and finishes. Residents can look forward to spacious living areas, contemporary kitchens, and luxurious bathrooms, along with access to facilities such as a swimming pool, gym, and clubhouse.
The project’s location in Pali Hill is a significant attraction for prospective buyers, renowned for its upscale residences and proximity to major business districts. Its closeness to Bandra’s commercial and entertainment centers further enhances its appeal.
Manan Shah expresses a positive outlook regarding the project’s future, highlighting the robust demand for luxury properties in Mumbai. He anticipates that the development will appeal to affluent buyers seeking opulent living spaces in desirable areas. Shah also indicated that the project is projected to reach completion within the next few years, with encouraging feedback from prospective buyers.
The project’s success hinges on several factors, such as construction quality, available amenities, and the services provided. The developer must ensure that the project aligns with the expectations of discerning buyers in search of luxurious residences.
Aamir Khan’s investment in the Pali Hill project underscores his confidence in Mumbai’s luxury real estate sector. The actor’s involvement is likely to draw the attention of other affluent buyers interested in high-end living spaces in prime locations.
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The luxury real estate market in Mumbai is anticipated to remain robust, fueled by the demand from wealthy buyers. The city’s expanding economy and the increasing interest in luxury properties are expected to contribute to the growth of this market segment.
In summary, the Pali Hill project is poised to become a significant player in Mumbai’s luxury real estate landscape. Its prime location, upscale amenities, and high-quality finishes render it an appealing choice for affluent buyers. With Aamir Khan’s participation, the project is likely to attract additional high-end buyers seeking luxurious living options in prime areas.
The project’s influence on the local real estate market is expected to be substantial. Its success may stimulate growth in the luxury sector and encourage other developers to pursue similar ventures. The project’s strategic location near key business districts and its lavish amenities make it an enticing option for affluent buyers.
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As the project advances, it will be intriguing to observe how it establishes itself as a standard for luxury living in Mumbai, given its prime location and exceptional offerings.
