Rs 85 crore bidding price for Vijay Mallya's Kingfisher villa in Goa

State Bank of India CAP Trustee Company Limited has set Rs 85 crore as the minimum cost for the auction of Vijay Mallya's Kingfisher Villa in Goa.

The e-auction will take place for 60 mins between 11 am to 12 noon on October 19.

The property, which was earlier valued at Rs 90 crore, will be available for inspection between September 26th and 27th and between October 5th and 6th.

The property has been put on block under Section 13(4) of the Securitisation and Reconstruction of Financial Assets  and Enforcement of Security Interest Act, 2002.

The 12,350 sq meter property is located in Candolim and is on the way to Fort Aguada.

The mansion has a massive private garden as well as ponds, swimming pools and a dance floor.

It is rumoured the dance floor was often used as a helipad for Mallya.

Inside the main villa, there are three big bedrooms and a huge living room .  

When India Today team visited the property in May, a fleet of luxury cars worth crores were parked inside the villa.