The housing society in Pali Hill, in Bandra locality of Mumbai, where Aamir Khan owns several apartments, will be taken up for redevelopment by Atmosphere Realty.
These apartments are in the building in the society with two wings, namely 'Bella Vista' and 'Marina'. It stands on a plot measuring 36,597 sq. ft.
The society has initiated the process for redevelopment, and Atmosphere Realty has been given the 'preferred developer' letter by the society. However, a formal agreement is yet to be signed.
The existing apartment owners are likely to get homes with 55-60 percent extra area in the new building. The price for apartments in new buildings is between Rs 80,000-1,25000 per sq. ft.
Atmosphere Realty is a joint venture (JV) between Wadhwa Group, MICL Group and Chandak Group.