MICL to Launch Ultra-Luxury Pali Hill Redevelopment by December 2025

Man Infraconstruction Limited (MICL) intends to launch premium residential apartments valued above Rs. 1 lakh per sq ft in their upcoming ultra-luxury development within Pali Hill Bandra’s luxury neighborhood by December 2025.

A luxury development project will appear within the Virgo Cooperative Housing Society redevelopment zone which includes apartments belonging to actor Aamir Khan. By 2025 Aamir Khan will receive brand new units in his building since he currently possesses twelve units among those structures.

The building redevelopment process will provide Aamir Khan with newly constructed units according to the development plan. The project development occurs as part of the transformation of Virgo Cooperative Housing Society. The redevelopment initiative for the housing society falls under the supervision of Atmosphere Realty which comprises Wadhwa Group and MICL and Chandak Group as companies. MICL plans to take charge of this project redevelopment by instructing one of its associate entities which currently controls 34 percent ownership. According to Manan Shah, Managing Director of MICL, the luxury apartments in their Pali Hill redevelopment project (which includes the redevelopment of Aamir Khan’s housing complex) are expected to be priced above Rs.1 lakh per sq ft.

"The project is currently under the approval stage, and we, along with our partners, are working on the documentation with the society. The target now is to launch the project in December 2025. Sales have been very good for us overall. However, there is some slowdown in the segment priced above Rs. 1 lakh per sq ft. Any product priced at Rs. 30 crore or more is witnessing slower movement,” Manan Shah, Managing Director of MICL, told HT.com in April 2025.

The company reports that the enterprise maintains stable performance yet detects inconsistent trends in Mumbai's luxurious real estate sector.