Vijay Mallya's Kingfisher Villa: New owner Sachiin Joshi to rechristen luxury property in Goa

Businessman-turned-actor Sachiin Joshi, who bought Vijay Mallya's Kingfisher Villa in an auction, has decided to rechristen this luxury property situated at Candolim beach in north Goa.

A consortium of banks led by the State Bank of India was able to sell the three-acre beachfront property after three failed auctions. The sale of the villa was a part of the recovery of Rs 9,000 crore that Vijay Mallya owes to various banks. Sachiin Joshi, who is also a beer baron, bought Vijay Mallya's prestigious Villa for a whopping price of Rs 73.01 crore.

Sachiin Joshi, who is the promoter of Viiking Ventures Private Limited, took over the Kingfisher Villa on Monday. Now, he has planned to change its name, but he is yet to finalise one. "The name should change. But I am yet to finalise any name. Once I decide on it, I will let everyone know," Hindustan Times quoted the businessman as saying.

Sachiin Joshi, who is all elated to have bought the villa, says that he had once dreamt of owning it, when he had visited the villa 10 years ago for a party. "I had then thought that someday if I get an opportunity, I will buy it. I even remember telling a friend that if I were to build or buy a villa, it would be like the Kingfisher villa," he said.

The villa, which has an estimated value of over Rs 100 crore, has artificial ponds, private swimming pools, open air dance floors and lush green gardens. Vijay Mallya hosted his famous lavish parties in this property in the past. It was one among the assets Mallya pledged for the loan and the lenders took possession of the property in May 2016.