Finally, one Mallya property evokes buyer interest: Kingfisher Villa

MUMBAI: While auctions of several assets of defunct Kingfisher Airlines failed to attract even a single bidder, the plush sea-facing Kingfisher Villa in Goa has

Published on: Oct 10, 2016, 05:50:53 IST

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MUMBAI: While auctions of several assets of defunct Kingfisher Airlines failed to attract even a single bidder, the plush sea-facing Kingfisher Villa in Goa has elicited interest from at least half-a-dozen players in the hospitality industry and a media group.

The 17-lender consortium led by State Bank of India, which took physical possession of the property in May this year after a long legal battle with United Spirits over tenancy rights, is auctioning it on October 19.

Lenders have fixed a reserve price of ₹85.29 crore for the 12,350 sq m mansion, owned by United Breweries Holdings and mortgaged by the now-grounded Kingfisher Airlines in 2010 to the consortium of banks to obtain loans.

Lenders had opened the villa for inspection to interested bidders in two slots — September 26-27 and October 5-6.

“The response was good. Nearly 6 to 7 parties have visited the villa,” a source said.

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