Kingfisher House house has been sold to a private developer Saturn Realtors for Rs 52 crore. The building was the headquarters of the bankrupt airline founded by Vijay Mallya. The sale has taken place at a fraction of the original asking price after the lender failed to find a buyer despite holding multiple auctions across several years. According to real estate industry experts, the banks had originally fixed an unrealistic reserve price as the property had several limitations. Being at the outskirts of the Mumbai airport, there is not much scope to develop the property. The building includes a basement, a ground floor, an upper-ground floor and an upper floor, measuring a total of 1,586 square meters. It is housed on a 2,402-sq-mtr plot.
Aug 14, 2021, 09:12AM ISTSource: TOI.in
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