No one is buying Kingfisher House, 8th auction today
No one is buying Kingfisher House, 8th auction today
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Kingfisher house owned by liquor baron Vijay Mallya, who is absconding outside India, has been put up for auction for the 8th time in three years. Presently Kingfisher House is the headquarters of the defunct Kingfisher Airlines Limited (KAL). The Debt Recovery Tribunal (DRT), based in Bangalore (Banglore), for the seized property, has announced a new auction date on November 27 through an online bidding process.

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During the first auction of the property, the auction started with a reserve price of Rs 135 crore. Currently, the value of about 150 crores was in 2016. This time for the 8th auction, the reserve price has been fixed at less than Rs 54 crore, with a sharp drop of 60 percent.

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The building was originally known as Paradigm and was later converted to Kingfisher House. It has a basement, an upper ground floor, a ground floor, and an upper floor, to be sold. Its total measurement is 1,586 square meters. It is situated at a distance of around 2,402 square meters in a prestigious location outside Chhatrapati Shivaji Maharaj International Airport (CSMIA).

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