Kingfisher villa price cut

Kingfisher villa price cut
06/12/2016 , by , in News/Views

Lenders to the defunct Kingfisher Airlines have decided to again put up for auction on December 22 the plush sea-facing Kingfisher Villa at Condolim in north Goa at a marginal discount of 5 percent to the last reserve price.

SBICap Trustee, which is auctioning the property, today said the reserve price for the property has been kept at Rs 81 crore and it would be put on sale on December 22.

The villa was once used by Vijay Mallya to host lavish parties.

After failed attempts to attract buyers in the first auction for different movable and immovable properties of the liquor baron Mallya, like Kingfisher House and various trademarks of the airlines, the lenders have reduced the reserve price by 10 percent each.

In the first attempt to sell the airline’s erstwhile headquarters Kingfisher House in the city in March this year, the lenders had kept the reserve price at Rs 150 core but reduced it by 10 per cent to Rs 135 crore in the second auction later in August, which also failed.

For the third time, lenders had put on block the Kingfisher House on December 19, with a reserve price 15 per cent lower at Rs 115 crore from the second auction in August.

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