Vijay Mallya's famed Kingfisher Villa, nestled in the picturesque landscapes of Goa, has entered a new chapter. The mansion, once a symbol of the flamboyant lifestyle of the liquor baron Vijay Mallya, is now owned by Bollywood actor Sachin Joshi and his wife, Urvashi Sharma.
Vijay Mallya: Vijay Mallya's renowned Kingfisher Villa, situated in the beautiful locales of Goa, has commenced a new phase. The villa, once considered a symbol of the dazzling life of the liquor tycoon and businessman Vijay Mallya, is now known by the name of Bollywood actor Sachin Joshi and his wife, Urvashi Sharma. This luxurious villa is now known as "King's Mansion," reflecting not only its grandeur but also its connection to Vijay Mallya's legacy.
Vijay Mallya's Kingfisher Villa: The Story Behind the Property
Vijay Mallya is accused of defaulting on massive loans (approximately ₹9000 crore) from Indian government banks, including ₹900 crore from IDBI Bank. To recover these dues, many of his luxurious villas and properties were put up for auction. His Goa-based Kingfisher Villa was part of this process.
In 2017, the villa was sold for approximately ₹73 crore. The bank sold it through an auction in an attempt to recover its outstanding amount. The villa's magnificence and amenities are breathtaking. Spread across approximately 12,350 square feet, this mansion is located on a sprawling three-acre plot and boasts modern amenities such as a private swimming pool, beautiful lawns, and a dance floor.
King's Mansion: A New Identity Under New Ownership
The new owners of the villa are Bollywood actor Sachin Joshi and his wife, Urvashi Sharma. Sachin Joshi named the villa "King's Mansion" to maintain a connection to its original identity—Vijay Mallya and his Kingfisher beer brand. This name is a tribute to the villa's heritage while also marking the beginning of a new chapter.
Sachin Joshi is not only an actor but also a successful businessman. His company, "Viking Ventures," is active in the hospitality and wellness sectors. Sachin is also well-known in the Telugu film industry, where he starred in "Nee Jathaga Nenundali," a remake of Aditya Roy Kapur's character. His wife, Urvashi Sharma, has also worked in films, and this purchase signifies their success and new business endeavors.
Why Was the Sale Necessary?
Controversies surrounding Vijay Mallya's lifestyle and business practices necessitated the auction of his assets. Various governments and banks constantly pressured Mallya to repay his loans. In an attempt to recover the debt, several of his luxurious villas and properties were seized and put up for auction. The Kingfisher Villa was sold through auction in 2017 as part of this process.
News of Kingfisher's extravagance and losses had been circulating for a long time. He garnered headlines nationally and internationally for his lavish parties and events, but financial difficulties and debt ultimately led to the sale of his assets.
The Grandeur and Luxury of Kingfisher Villa
Entering this Goan mansion, you are greeted by the magnificent sight of a private swimming pool. The expansive manicured lawns and dance floor made it an ideal venue for parties and large events. The lingering scent of Mallya's parties can still be felt here. The villa perfectly reflects the glamour of his renowned Page 3 parties.
Sachin Joshi and Urvashi Sharma's New Chapter
Sachin Joshi's purchase demonstrates his success in both Bollywood and the business world. King's Mansion has become a new home and business hub for him. Urvashi Sharma is also a partner in this venture. The couple plans to utilize the villa not only as a luxury residence but also within the hospitality and entertainment industries.
Vijay Mallya's Current Situation
Vijay Mallya is currently in the UK and is stranded there due to ongoing legal proceedings initiated by the Indian government. A protracted legal battle continues between various courts and government agencies regarding debt recovery. Although the property is now under new ownership, Mallya's name remains in the news due to ongoing financial and legal disputes.
