SBI to e-auction Kingfisher House today

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An online auction of one of Vijay Mallya’s flagship properties in Mumbai, Kingfisher House, opened and closed today without any bidders.

Not too long ago, he used to be a symbol of King of good times in India. Today the liquor baron Vijay Mallya has become a subject of public ridicule with the authorities chasing him to recover Rs 7,000 crore he defaulted to public lenders.

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State Bank of India, one of the public lenders trying to recover its loans from Mallya, on Thursday put the former headquarter of Kingfisher Airlines in Mumai for online auction.

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The bank put up a big notice outside the Kingfisher House announcing its intention to conduct e-auction for the property on Thursday.

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The former headquarter of now-defunct Kingfisher Airlines was expected to generate considerable interests among the buyers primarily because of its proximity to the highway, though some real estate agents and advisers say the price of the property is on the higher side.

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The property is located close to the domestic airport at Mumbai’s Vile Parle area. The base price for this multi-storey building, with a built up area of over 17,000 sq.ft, has been set at Rs.150 crore.

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