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Vijay Mallya’s Kingfisher Villa’s Name Will Be Change By New Owner Sachin Joshi

Actor Sachiin Joshi, who was last seen romancing Sunny Leone onscreen in jackpot, is now a proud owner of Vijay Mallya’s famous Kingfisher Villa.

After three failed auctions, banks have finally managed to sell the Kingfisher Villa in Goa belonging to the troubled businessman Vijay Mallya to actor-producer Sachin Joshi.

Sachin Joshi

The property, known as the ‘Kingfisher Villa’, is situated on the picturesque Candolim Beach, a tourist hotspot.

It had earlier failed to attract buyers on three auction attempts by SBI Caps – which had taken over the possession of the villa – ostensibly since the reserve price was between Rs. 81-85 crore.

For the current sale, the reserve price was fixed at Rs. 73 crore and the villa found a buyer in actor-cum-business baron, 33-year old Joshi, of the Mumbai-based Viiking Ventures Pvt Ltd, said an SBI official who requested anonymity.

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The property sale comprises a part of the recoveries due of the Rs. 9,000-crore plus amounts including loan and interest outstanding from Mr Mallya who is currently living in the UK since over a year.

Sachin Joshi’s father and chairman of JMJ Group of Company, JM Joshi, said that his son has started buying this villa for Rs. 73 crores. Soon they will go to Goa to see this villa. Talking to the media in Jodhpur, JM Joshi said that ‘Kingfisher Villa’ will be renamed ‘King’s Mention’.

Promising media to tell about his future plans Joshi said that the villa helps him to bring back positive feeling. “It’s a good feeling. It’s a very positive feeling and I guess it’s a mixed bag at this moment.”

This villa has all the comforts of the world. The beach side villa has 15 small bungalows in it. The villa, spread over 12,350 sq ft or three acres at Candolim (on the way to Fort Aguada), was legally owned by United Breweries Holdings, the parent company of the Kingfisher Airlines.The lenders had taken physical possession of the villa in May 2016.

About Prachi Jain

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