Rs.85 crore set as minimum bidding cost for Kingfisher villa



Vijay Mallya’s Kingfisher Villa in Goa is finally up for auction. The State Bank of India CAP Trustee Company Limited has set Rs.85 crore as the minimum cost for the auction of the villa. The e-auction will take place for 60 mins between 11am to 12 noon on October 19, 2016.

Prior to this, the famous villa was estimated at Rs.90 crore. The property will be available for inspection between September 26th and 27th and also between October 5th and 6th respectively.

The 12,350 sq meter property has been put on the block under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

It is located in one of the prime villages of Goa, Candolim. You will see it on the way to the Aguada Fort. The mansion has an enormous private garden as well as ponds, swimming pools and a dance floor. It is said that the dance floor was used as a helipad by Mallya. The main villa has three luxurious bedrooms and a massive living room.

When India Today team visited the property in May, a fleet of luxury cars worth crores was parked inside the villa, they claim in their report.