Hyderabad-based Realty Firm Buys Kingfisher House in Mumbai for Rs 52.25 Cr
Kingfisher House, the headquarters of the now-defunct Kingfisher Airlines earlier valued at Rs 150 crore was sold to Hyderabad-based Saturn Realtors for Rs 52.25 crore. The property near the Mumbai airport was finally sold after eight previous auction attempts. The property was sold by the Debt Recovery Tribunal, Bengaluru, which is representing the lending banks. The property originally valued at Rs 150 was set at a price of Rs 135 crore at the time of the first auction in 2016. The property price was brought down to Rs 54 crore in 2019, after being unable to find a buyer in the eighth round of online auctions. The office property sits on 0.6 acres of land, beside the Western Express Highway, outside the Chhatrapati Shivaji Maharaj International Airport (CSMIA). The property transaction was executed on July 29 and has been registered by the buyer who paid a stamp duty worth Rs 2.61 crore.
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