New Delhi: Vijay Mallya’s Kingfisher House has finally been sold. The lenders have sold the ownership of liquor baron Vijay Mallya to Kingfisher House, the headquarters of the now-defunct Kingfisher Airlines. Let us tell you that the lenders have sold this Kingfisher house to a private developer in Hyderabad for Rs 52 crore. Earlier also several attempts were made to sell this house but the lenders could not find the buyer.
In fact, citing real estate industries, where does the report go that initially, banks had fixed an unrealistic reserve price for it. The reason for this was that the property had many limitations. Where has it gone that there is not much scope for development of the property as it is situated on the outskirts of Mumbai airport? This sold property is located in the luxurious Vile Parle area near the airport in Mumbai.
Earlier auction attempts failed
Let us tell you that many attempts have been made in the past to sell this property, but all of them were unsuccessful. The lenders had tried to auction the property for the first time in March 2016 with a reserve price of Rs 150 crore. Mallya has been declared a wilful defaulter and has been denied dues by the authorities for default in repayment of loans related to Kingfisher Airlines. Let us tell you that Kingfisher Airlines was closed in 2012.