The 24-year-old enjoyed an impressive 2019-20 campaign, scoring 10 times and registering eight assists in 41 appearances in all competitions, including eight goals in the Premier League.
Manchester United continue to be strongly linked with the Englishman, although Villa are believed to value their skipper in the region of £80m, having managed to avoid relegation to the Championship.
According to The Mirror, Grealish will hold talks with the club's chief executive Christian Purslow upon his return from holiday later this month.
The playmaker still has three years left to run on his current deal at Villa Park, placing Villa in a strong position when it comes to any potential negotiations.
A recent report claimed that United were prepared to wait until late in the transfer window, which does not close until the beginning of October, to make a move.