Kingfisher Villa fails to find takers, again

  |   India News

The re-auction of embattled businessman Vijay Mallya's Goa property, Kingfisher Villa, yet again turned out to be a damp squib today despite a reduction in reserve price by 5 per cent to Rs.

According to experts, one of the reasons for failure of the auction today could be that people are seeing correction in real estate and and they expect lenders to reduce the reserve price further for the villa.

Bidders would not have come forward for buying the villa today as they are hoping that lenders will lower the reserve price for the property," said one of the analysts.

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