Bollywood actor and producer Atul Agnihotri, known for films like Sir, Aatish and Krantiveer, is venturing into real estate with a redevelopment project in Mumbai’s Bandra area. He is also Salman Khan’s brother-in-law.
Property records reveal that Atul Agnihotri’s company, Shivansai Homemaker Infra LLP, will redevelop a residential building that is over six decades old. The project involves a small housing society and has garnered attention due to the family’s significant ownership stake in the property.
A Closer Look At The Bandra Redevelopment Plan
The redevelopment will take place at Palimala Co-operative Housing Society Limited, a three-storey building that is more than 60 years old. Of the 11 members in the society, five flats are owned by
the Agnihotri family and their company, Reel Life Production Pvt Ltd.
Why Old Buildings Are Being Redeveloped
Across Maharashtra, many ageing residential buildings are being redeveloped. This usually means tearing down the old structure and building a new one that meets current safety and living standards.
Under such projects, existing residents get bigger homes at no cost. Builders earn by selling extra flats in the open market, while the government collects revenue through stamp duty and registration charges.
How The Society Chose The Developer
Documents accessed by Liases Foras, a real estate data and analytics firm, show that the housing society selected Agnihotri’s company through a formal tender process. The firm reportedly paid a token amount of Rs 11 lakh in November 2025.
Registration papers also show that stamp duty of Rs 1.08 crore was paid on December 5, 2025, to complete the transaction.
What Residents Will Receive After Redevelopment
Currently, the 11 flats together measure 8,565 sq ft under MOFA carpet area rules. After redevelopment, each member will receive 1,241 sq ft of RERA carpet area.
The document reportedly notes that “the old structures are over 60 (sixty) years old and require repairs at an increasing frequency and costs…”
All members will get 45 per cent extra carpet area compared to their existing homes. The Agnihotri family, which now occupies 4,092 sq ft, will receive 5,934 sq ft after redevelopment.
Compensation And Amenities Promised To Members
Members will be paid hardship compensation of Rs 4,500 per sq ft, along with a one-time shifting charge of Rs 1.75 lakh. Monthly rent of Rs 1.50 lakh will be paid for up to 42 months, along with brokerage support.
New homes will include air conditioners, Italian marble flooring, modular kitchens, branded fittings, TVs, and home appliances.
Who Is Atul Agnihotri?
Atul Agnihotri is married to Alvira, Salman Khan’s sister. He began his acting career in the early 1990s and later moved into film production. In 2004, he transitioned to directing with the film Dil Ne Jise Apna Kahaa, starring Salman Khan, followed by Hello in 2008.
Atul Agnihotri and Alvira are proud parents of two kids, Alizeh Agnihotri and Ayaan Agnihotri. While Alizeh made her acting debut in 2024, Ayaan is a musician.
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