The 26-year-old scored 22 goals last season as Rovers finished ninth in the Sky Bet Championship and has netted 34 times in 65 games for the club.
Crystal Palace, Watford, Norwich and West Brom have been credited with an interest in the Benin international, who has been at Blackburn since signing permanently from Cardiff, after a loan spell, in January 2014.
Villa boss Tim Sherwood is searching for more firepower after the £32.5m sale of Christian Benteke to Liverpool.
He is closing in on a loan deal for Emmanuel Adebayor, who he managed at Tottenham, with the deal expected to be completed soon.
Adebayor was given a guided tour of Villa’s Bodymoor Heath training ground on Tuesday while talks continued on Wednesday.
Nantes midfielder Jordan Veretout could also be a Villa player by the end of the week with the club holding talks with the 22-year-old.
Sherwood has already signed seven players this summer and is prepared to let several squad members go, with left-back Aly Cissokho told he can leave.
Elsewhere, Rovers are facing a fight to hang on to Gestede’s team-mate Jordan Rhodes after the Scotland international was the subject of a recent bid from Middlesbrough.
The former Dunfermline striker was reportedly unhappy at being denied the opportunity to speak with Aitor Karanka’s side.