Kingfisher Villa has finally found its new owner. Actor turned businessman Sachin Joshi who has featured in movies like Jackpot, Aazaan etc bought the villa by bidding slightly higher than the reserve price of Rs 73 crores. The auction was conducted by a 17 member consortium led by SBI after Vijay Mallya had failed to repay his debts.
The sea facing grand villa is situated in Candolim, Goa and had attracted a lot of interest from potential buyers ever since its auction process initiated. But the villa went unsold at every auction due to its high reserve price. It was initially opened for auctioning at Rs 85 crores, then at Rs 81 crores and now finally at RS 73 crores. The actor bided in the range of Rs 73-74 crores to acquire the palatial villa.
The 32-year-old actor cum businessman is vice chairman of Mumbai-based JMJ group of companies whose interests ranges from Fitness Centres to Health space. He is also the owner of Viking Media and Entertainment which is into movie production.
Vijay Mallya had earlier declared himself Bankrupt after which lenders decided to auction his properties to cut short their losses. But we can imagine from its price how magnificent the villa would be.