Lenders’ attempt to auction Kingfisher House in Mumbai — the headquarters of Kingfisher Airlines — failed for the fifth time despite a further cut in reserve price.
The property, which was first put on the blocks in March, 2016 with a reserve price of ₹150 crore, saw banks lowering the price after failing to attract any buyers. This time, the reserve price was reduced by 10% to ₹93.5 crore as compared with the previous auction held in March. In the last 15 months, the reserve price was reduced by 37.66% but failed to attract buyers.
The 17,000 square-feet property is located in the Ville Parle, near the domestic airport.
