Banks to auction Kingfisher House, Goa villa at lower prices

A State Bank of India-led consortium of banks will, in the coming week, again House in Mumbai and the Villa in Goa, once owned by industrialist Vijay Mallya, at lower reserve prices compared to the three failed previous auctions.


The reserve price for House, once the airline’s corporate office, will be auctioned on Monday at Rs 115 crore, which is 15 per cent lower than the failed secondheld in August, when the minimum sale price was fixed at Rs 135 crore.


The Villa in north Goa will be auctioned on December 22 at a reserve price of Rs 81 crore, which is 5 per cent lower than the held in October, when the lenders had tried to sell the sea facing property at Rs 85.29 crore.


The liquor baron left the country in March and is currently said to be living in Britain.


Villa, owned by United Breweries Holdings (UBHL), was mortgaged as collateral for loans toAirlines.


Besides these two properties, the banks are also once again auctioning the movable properties worth Rs 15.72 lakh kept at House, on January 5.


These assets include 10 cars, which will be auctioned on an individual basis.


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


Two attempts this year to e-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.