Mumbai: Kingfisher House, headquarters from bankruptcular airlines founded by Vijay Mallya, have been sold to private developers Realtors Saturn for RS 52 Crore.
Sales have occurred at a fraction of the price of original demand after lenders fail to find buyers despite holding several auctions in several years.
According to real estate industry experts, banks initially improve unrealistic reserve prices because property has several limitations.
Located on the outskirts of Mumbai airport, there is not much room to develop property.
The building includes the basement, ground floor, upstairs and upstairs, measuring totaling 1,586 square meters.
This is placed on a 2,402-mtr sq-mtr plot.