Sachiin Joshi reportedly bought the very famous Kingfisher Villa owned by liquor baron Vijay Mallya. Just like its original owner Mallya, Kingfisher Villa's new resident also has a liquor connection - Sachiin Joshi owns Goa-based beer brand Kings Beer.

 

Sachin reportedly shelled out Rs 73 crore to buy the villa. Sachin is the vice chairman of JMJ Group which has diverse business interests. 

 

Sachiin Joshi

 

He also owns Viiking Media and Entertainment under which he produced a couple of Hindi films like Aazaan, Mumbai Mirror and Jackpot and Telugu movies including Veedevadu, Mounamelanoyi, Ninu Choodaka Nenundalenu, Mogali Puvvu etc. 

 

According to reports, Sachiin has agreed to pay Rs 73 crore for the villa, marginally higher than its reserve price. Originally, in 2016 it was priced at Rs 86 crore, the first time when the villa was put up for auction. Unable to find a buyer, the price was reduced to Rs 81 crore in December, but still no one came forward to purchase it. The final auction took place last month with a lower reserve price of Rs 73 crore.

 

Kingfisher Villa

 

The sea-facing magnificent villa situated in Candolim, Goa, had earlier drawn interest from many players in the hospitality industry and a media group when it was opened for inspection to interested bidders. 

 

The 17-lender consortium led by the State Bank of India took physical possession of the Kingfisher Villa in May 2016.