No takers for Mallya's Kingfisher villa, SBI's e-auction closes

The villa has been priced at Rs 85.29 crore

A State Bank of India (SBI)-led consortium of banks will on Wednesday failed to get any bidders for the Kingfisher Villa in Goa, which was once owned by industrialist Vijay Mallya. The villa was priced at Rs 85.29 crore.

It is located in Candolim and is on the way to Fort Aguada.The luxurious mansion has three bedrooms and one giant living room. Several reports suggested that the beleagured liquor tycoon had himself decorated every corner of the villa. A fleet of luxury cars is parked in the car that also includes a red Ferrari. The house is adorned with antiques and teakwood furnitures.

 Kingfisher Airlines owes around Rs 9,000 crore to the consortium of 17 banks. 

Earlier the banks had put up for auction, Kinghfisher House, the KFA headquarters in Ville Parle, Mumbai. The property build over an area of 17,000 square fit with tagged at a price of Rs 150 crore. Back then also, lenders failed to attact any bidder for the property. Then too the lenders had failed to attract any bidders.

 The liquor baron left the country in March and is currently said to be living in Britain. Kingfisher Villa, owned by United Breweries Holdings (UBHL), was mortgaged as collateral for loans to Kingfisher Airlines. 

The villa had been opened for inspection to interested bidders on September 26-27 and October 5-6. Two attempts this year to e-auction Kingfisher House, the airline’s corporate office in Mumbai, ended in failure as no buyer approached SBICAP, which is auctioning Mallya’s properties on behalf of the lenders.

With IANS agency inputs