England international Grealish is the subject of serious interest from Manchester City with the Premier League champions having indicated they would make a formal offer after Euro 2020 concluded.
But Villa are determined to hold on to their talisman and opened negotiations with his representatives over a new, improved deal last month.
Grealish is currently enjoying a break following his summer exploits with the Three Lions and things are expected to progress further when he returns for pre-season training at Bodymoor Heath.
The 25-year-old signed a five-year deal worth around £125,000-a-week last September but Villa are willing to offer him a significant increase to commit again.
Villa will also step up efforts to further bolster their attacking ranks with the Premier League season now just a month away.
New £33million record signing Emi Buendia reported for his first day of training on Monday. Villa have also been linked with Argentina winger Julian Alvarez.