It seems that the real estate industry is on a redevelopment spree. So many buildings are getting redeveloped, especially in Mumbai, that even Bollywood superstar Aamir Khan has not been spared. Aamir’s building which is situated in the upmarket area of Bandra in Mumbai will be going through redevelopment.
You will be surprised to note that Aamir owns 9 of the 24 apartments in the two buildings called Bella Vista and Marina Apartments at Pali Hill. the present buildings will be destroyed, says a report. On the plot of less than one acre, it is reported that a new building will be constructed.
The society started the redevelopment process and Atmosphere Realty has been selected as the company to be the winner. Atmosphere Realty is a joint venture between three real estate firms called Wadhwa Group, MICL, and Chandak. Atmosphere Realty is presently managing the premium Atmosphere project located at Mulund in Mumbai.
Considering the Wadhwa Group was engaged in negotiating with the society from the initial stages. However, the company was not available to share their views. Other builders who were interested in taking part in the redevelopment project included Kalpataru, K. Raheja, and Oberoi Realty.
Since Aamir has a lot of ownership stake in the building, he is alleged to be engaged in the entire process of redevelopment. The apartment owners who are presently there will be getting homes with 55-60% extra area in the new building. It is also being reported that the cost of the apartment in the redevelopment project buildings in that space will range from Rs. 80,000 to Rs. 1,25,000 per square feet.
If you have ever visited Mumbai or reside in the fastest city of the world Mumbai itself, then you may have surely heard about Pali Hill, which is the hub of rich celebrities. That is one of the reasons why Pali Hill has the ranking of the top 3 places in the upmarket suburban region of Bandra. If you have visited Bandra in the last two years then you would also know that there has been a burst of several buildings going through redevelopment processes. Rustomjee, K. Raheja, and Prestige are reported to have taken up several promising building projects in the market. It was just in recent times that Dilip Kumar’s bungalow in Pali Hill was taken up for redevelopment by Ashar Group.
Aamir was recently seen in the film Laal Singh Chaddha which didn’t do well at the box office. However, it was praised by the OTT audience who considered it to be Aamir’s finest film. As per a recent report, Aamir is planning to work on a new untitled film from January 2024 that will hit the theatres in December 2024, during Christmas. The makers have not announced the film yet because it is still in the pre-production stage. The film will be produced by Aamir’s own company Aamir Khan productions. There are also reports that Aamir will be featuring in ‘Sitaare Zameen Par’ which is going to be a Hindi adaptation of the movie ‘Campeones’. As per a report on Zeenews, the film will have actress Genelia D’souza have an important role.