Kanga & Co. advised United Spirits Limited (USL) a subsidiary of the Diageo Group, on the sale of the iconic Niladri Bungalow on Nepean Sea Road, Malabar Hill, Mumbai, to Ajaykumar Vaghani and Manisha Vaghani for ₹172 crore.
Kanga & Co advised the sellers United Spirits on this deal.
The transaction team consisted of Kunal Vaidya (Partner) and Prachi Thakkar (Associate).
The bungalow consists of ground plus 2 upper floors, and admeasures about 18,844.32 sq. ft. built-up area.
Niladri Bungalow is a prominent sea-facing mansion located on Napean Sea Road in Malabar Hill, Mumbai. Spanning approximately 16,000 square feet, the property features a swimming pool, private lawns, and a deck. Historically, it served as the Mumbai residence of Vijay Mallya, former chairman of United Spirits Limited (USL), and was known for hosting numerous high-profile events, including Kingfisher Calendar launches. Following Mallya's resignation in 2016, USL, owned by Diageo Plc, decided to sell several non-core assets, including Niladri Bunglow.
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