Kingfisher House sold for Rs.52 crores

The Debt Recovery Tribunal (DRT), Bengaluru, has finally sold, Kingfisher House, the erstwhile headquarters of the defunct Kingfisher Airlines to a Hyderabad-based company Saturn Realters for Rs. 52.25 crores after more than eight failed attempts to auction the property.

The tribunal has sold the property owned by absconding liquor baron Vijay Mallya aviation company at almost one-third of its reserve price of Rs. 135 crores set in the first auction conducted in 2016. The property was originally valued at Rs. 150 crores.

The beleaguered property had not found a buyer even after the 8th online auction for the was conducted on November 27, 2019 with reserve price of Rs. Crore.

Saturn Realtors had bid for the property in the 9th online auction that was conducted in March this year with a base price of Rs. 52 crores.

The commercial building originally known as Paradigm, and later as Kingfisher House, has a total built up space of 17,074 sq. ft. across a basement, an upper ground floor, a ground floor and an upper floor.  S-ET

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