SBICap, bidders begin inspection process of Mallya's Kingfisher Villa in Goa
The auction of the property located at Condolim in North Goa, which was once used by Mallya to host lavish parties, will be conducted on 19 October.
In Short
- A special team of SBICap has reached Goa for the "inspection" of Villa.
- The auction of the property will be conducted on 19 October.
- The notice permits bidders to inspect the villa on 26-27 September and 5-6 October.
As expected, SBICap Trustee, the subsidiary of State Bank of India (SBI) has begun its process to auction Vijay Mallya's most beautiful house in India - Kingfisher Villa. A special team of SBICap has reached Goa for the "inspection" of Villa.
"A team has reached Goa early morning, for a two-day inspection of Kingfisher Villa. It is a normal process before any auction, where potential bidders with the support of bankers, inspect the entire property," said a senior official of SBICap confirmed India Today.
Last week, the 17-lender consortium led by State Bank of India announced its plan to put Vijay Mallya's prime Goa property on a sale at a reserve price of Rs 85.29 crore. The auction of the property located at Condolim in North Goa, which was once used by Mallya to host lavish parties, will be conducted on 19 October.
"The e-auction will be of the immovable property of the villa with structures and buildings and will include pumping systems of swimming pools, AC ducting, electrical wiring and piping," said a public notice issued by SBICap Trustee.
ALSO READ: Vijay Mallya's Kingfisher House in Goa to be auctioned for Rs 85 crore
As per the notice, the bidders can inspect the villa on 26-27 September and 5-6 October.
VALUATION DONE
Few months back, lenders of the defunct Kingfisher Airlines had completed the process of valuation of the Kingfisher Villa, before putting it on sale, as a part of the efforts to recover over Rs 9,000 crore dues from the airline.
"Authorised independent valuers had assessed the property. The reserve price of Rs 85 crore was based on their report", the banker said.
The villa owned by United Breweries Holdings, was mortgaged by the now defunct Kingfisher Airlines to a consortium of 17 banks to obtain loans in 2010. At that time it was valued at Rs 90 crore.
EXCLUSIVE GLIMPSE
In May 2016, India Today got an exclusive look at the Kingfisher Villa from inside. The fleet of luxury cars parked in the villa includes a red Ferrari, and at least 20 other cars worth crores.
ALSO READ: The Mallya saga: Key legal battles of Vijay Mallya
The mansion had a massive private garden as well as ponds, swimming pools and a dance floor. Source said the dance floor was often used as a helipad for Mallya.
Inside the main villa, there are three big bedrooms and a huge living room. Every corner of the house has been reportedly decorated by the tycoon himself. "The living room has hand-crafted teakwood furniture with a fancy home theatre system. In fact, the house has been designed in a typical Goan style and is well connected to the beach," the source said.
At the end of the lawn there is a luxurious apartment-sized bedroom facing the sea. "This was Mallya's master bedroom," a security man said.
ALSO READ:
Vijay Mallya's properties, shares worth over Rs 6,000 crore attached