Search

No takers for Vijay Mallya’s Kingfisher Villa in Goa,

The exterior view of Kingfisher Villa is seen in the western Indian city of Goa July 5, 2012. Embattled Kingfisher Airlines on Thursday won more time from lenders to develop a turnaround plan while its bankers moved ahead with the sale of two properties to recover a small fraction of what they are owed. Kingfisher, controlled by liquor baron Vijay Mallya, has never made a profit in a struggling Indian airline industry and has seen its domestic market share fall from second to last among the six big carriers after grounding most of its fleet. Picture taken July 5, 2012. REUTERS/Stringer (INDIA - Tags: TRANSPORT BUSINESS) - RTR34NFQ




An SBI-led consortium’s attempt to auction the Kingfisher Villa in Goa, failed for the second time on Thursday as it had no takers despite a five per cent cut on the reserve price.

The reserve price for the north Goa villa, where absconding industrialist Vijay Mallya hosted lavish parties, was kept at Rs 81 crore, which was 5 per cent lower than the October auction price.

In the first attempt the lenders had tried to sell the sea facing property for Rs 85.29 crore.

“Unfortunately, none of the bidders came forward. The auction failed this time as well,” an official of SBICap, which is auctioning Mallya’s properties on behalf of the lenders, said here.

Earlier on Monday, its attempt to auction the Kingfisher House here, the defunct Kingfisher Airline’s corporate office, also failed for the third time due to no takers despite a 15 percent cut in its reserve price.

Officials said the depressing effect of the 8 November demonetisation measure on the real estate market could be a factor in the lack of bids as bidders expect prices to be reduced further.

Please follow and like us:
0

Related posts

Leave a Comment

Social media & sharing icons powered by UltimatelySocial