Mumbai: Beleaguered businessman Vijay Mallya’s Kingfisher House — the former headquarters of his defunct Kingfisher Airlines Ltd — is once again set to be auctioned, after the last one in March turned out to be a damp squib.
State Bank of India’s (SBI) investment bank arm SBICAP Trustee Company announced that the auction of the building would be held on August 4. The fresh auction was announced after SBICAP conceded to demands to lower the reserve price of the building from Rs 150 crore to Rs 135 crore.
Kingfisher House, which boasts a built-up area of 17,000 square feet, was earlier put up for e-auction on March 17. Nobody came forward to buy it. At the time, builders had claimed that the price was too high and the market, sluggish. In order to make it saleable, SBICAP dropped the reserve price by Rs 15 crore.
However, one of the builders from South Mumbai said even the current price of Rs 135 crore was too high. “If the bank wants to sell the building, it needs to price it below Rs 100 crore,” the builder said.
03/07/16 daijiworld
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State Bank of India’s (SBI) investment bank arm SBICAP Trustee Company announced that the auction of the building would be held on August 4. The fresh auction was announced after SBICAP conceded to demands to lower the reserve price of the building from Rs 150 crore to Rs 135 crore.
Kingfisher House, which boasts a built-up area of 17,000 square feet, was earlier put up for e-auction on March 17. Nobody came forward to buy it. At the time, builders had claimed that the price was too high and the market, sluggish. In order to make it saleable, SBICAP dropped the reserve price by Rs 15 crore.
However, one of the builders from South Mumbai said even the current price of Rs 135 crore was too high. “If the bank wants to sell the building, it needs to price it below Rs 100 crore,” the builder said.
03/07/16 daijiworld
