Salman Khan’s brother-in-law Atul Agnihotri’s firm to redevelop 60-year-old Bandra housing society
Salman Khan’s brother-in-law and Bollywood actor-producer Atul Agnihotri is entering real estate development, with his firm Shivansai Homemaker Infra LLP set to redevelop an old Bandra building in Mumbai, according to property registration documents accessed by Liases Foras.
Agnihotri plans to redevelop the 60-year-old Palimala Co-operative Housing Society Limited building. Documents show that of the 11 members in the three-storey society, five flats are owned by the Agnihotri family and its company, Reel Life Production Pvt Ltd.
Atul Agnihotri is married to Alvira, the sister of Bollywood actor Salman Khan. He is best known for his debut film Sir (1993), and has also appeared in notable films such as Aatish: Feel the Fire (1994) and Krantiveer (1994).
What is redevelopment?
In Maharashtra, several old buildings, particularly those comprising two to seven storeys, are currently undergoing redevelopment. Redevelopment of housing projects involves demolishing the existing structure and replacing it with a modern, larger building, subject to various regulations.
The residents of the old building receive larger apartments in the new building for free, while the builder sells a certain number of apartments in the new building at a profit in the open market. The government also earns revenue in the form of stamp duty, registration fees, and other direct and indirect taxes.
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All about the Bandra housing society deal
According to the documents shared by Liases Foras, the Palimala Cooperative Housing Society appointed Atul Agnihotri’s company to carry out the redevelopment through a tendering process conducted by the society.
Registration records show that Agnihotri’s firm paid a token amount of ₹11 lakh in November 2025. The documents also indicate that the company paid stamp duty of ₹1.08 crore for registering the transaction on December 5, 2025.
The documents show that a total of 11 members of the society own flats measuring a total of 8,565 sq ft of MOFA Carpet Area. Following redevelopment, they will receive 1,241 sq ft of RERA Carpet Area.
The document states that “the old structures are over 60 (sixty) years old and require repairs at an increasing frequency and costs, which the Members are reluctant to continue expending. The Society opined that , given the age and condition of the Old Structures, the Society should consider redevelopment of the Property so that the Members could obtain new and larger flats…”
Additional area post-redevelopment
The documents indicate that all members will receive a 45% additional area of RERA Carpet above the existing area of the flat.
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The documents show that the Aghnihotri family, which owns five apartments, currently occupy 4,092 sq ft of the MOFA Carpet area. Following redevelopment, the family will be entitled to 5,934 sq ft of RERA carpet area.
Members to get hardship compensation under the redevelopment agreement
The developer will also provide hardship compensation of ₹4,500 per square foot to the members of the society, along with a one-time shifting charge of ₹1.75 lakh to each member, as per the documents.
The developer will also provide rental compensation of ₹1.50 lakh per month to the members for a duration of 36 to 42 months, which corresponds to the project’s duration. Additionally, the developer shall also pay ₹1.50 lakh in brokerage charges to each member that they may incur towards brokerage expenses during the temporary accommodation on rent, as per the documents.
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Amenities that members will receive post-redevelopment
According to the development agreement, all members will receive fully upgraded homes post redevelopment, including air conditioners in all bedrooms and the living room, Italian marble flooring, branded bathroom fittings, 43-inch 4K LED TVs in the bedrooms and living area, a modular kitchen, and appliances such as a microwave, refrigerator and washing machine, among other amenities.
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Email queries have been sent to Shivansai Homemaker Infra LLP, along with a message to the chairman of the housing society, and Atul Agnihotri. The story will be updated if and when responses are received.
