Salman Khan's Brother-in-Law Atul Agnihotri to Revamp 60-Year-Old Bandra Housing Society
Bollywood actor-producer Atul Agnihotri, who is Salman Khan’s brother-in-law, is making a significant move into the real estate sector with a redevelopment project in Bandra, Mumbai. His firm, Shivansai Homemaker Infra LLP, has been selected to redevelop the 60-year-old Palimala Co-operative Housing Society, according to property registration documents accessed by Liases Foras.
The society comprises 11 members, with flats of five members reportedly owned by the Agnihotri family and their company, Reel Life Production Pvt Ltd. The redevelopment project will transform the current three-story building into a modern structure, providing residents with larger and more modern flats.
Redevelopment projects have gained prominence in Maharashtra, particularly for buildings with seven floors or fewer. These projects involve demolishing the existing building and constructing a new, larger structure. The residents are given new flats for free, while the developer sells the remaining units. The government benefits from stamp duty and taxes collected from these transactions.
The Palimala Co-operative Housing Society selected Agnihotri’s firm through a tendering process. The developer paid a token amount of ₹11 lakh in November 2025 and stamp duty of ₹1.08 crore for registering the transaction in December 2025. Currently, the society’s flats have a total MOFA carpet area of 8,565 sq ft, which will expand to 1,241 sq ft of RERA carpet area per member post-redevelopment.
The Agnihotri family’s share of 4,092 sq ft will increase to 5,934 sq ft of RERA carpet area, reflecting a 45% additional area for all members. Under the redevelopment agreement, members will also receive hardship compensation of ₹4,500 per sq ft, a one-time shifting allowance of ₹1.75 lakh, and rental compensation of ₹1.50 lakh per month for 36 to 42 months. The developer will also cover brokerage charges of ₹1.50 lakh per member for temporary rental arrangements.
Redevelopment activity in Mumbai is expected to remain strong until 2026. A report by Knight Frank India (September 2025) reveals that since 2020, 910 housing societies have signed DAs, releasing almost 326.8 acres (1.32 million sq m) of potential land. The main micro-markets rehabilitating these properties are Borivali, Andheri, and Bandra, which together provide over 139 acres of area. By 2030, the redevelopment segment will have delivered 44,277 apartments valued at ₹1.30 lakh crore, while the free sale element is expected to generate ₹7,830 crore in stamp duty and ₹6,525 crore in GST.
Redevelopment schemes are a win-win for both residents and developers: residents receive larger flats in the newly constructed block, while developers can sell the remaining units on the open market. According to the 2025 review by Knight Frank India, these projects will efficiently utilize land, creating both government fiscal income and expanding the housing stock for the market.
After the refurbishment, residents will enjoy modern amenities such as air conditioning in bedrooms and living areas, Italian marble floors, branded bathroom fixtures, 43-inch 4K LED TVs, and modular kitchens equipped with microwaves, fridges, and washing machines.
Atul Agnihotri, known for films such as Sir (1993), Aatish: Feel the Fire (1994), and Krantiveer (1994), is expanding his film production firm with real estate development activities. This redevelopment project reflects the broader trend in Mumbai, where the city is rejuvenating old residential towers to improve living conditions and provide financial compensation to residents.
