NEW DELHI: Business-to-business e-commerce company, Wednesday said that it has conducted e-auctions in the housing and real estate sector for the state of Uttar Pradesh.
The initiative was driven by the Uttar Pradesh Housing and Development Board, which according to the company helped in bringing transparency and aided in the discovery of market-determined price for its various properties.
The Uttar Pradesh Awas Vikas Parishad (UPAVP) was following an offline process till now.
“Mjunction’s customised e-auction platform makes it convenient for potential buyers, by getting them direct access to the UPAVP properties, besides being assured of market-driven price discovery,” it said in a statement.
Commercial plots for group housing, schools, nursing homes and hospitals were among those up for e-auction across six zones of the UPAVP – Lucknow, Meerut, Bareilly, Agra, Varanasi and Kanpur.
A total of 17 plots have been sold from these zones.
“Mjunction has provided a customised platform to Uttar Pradesh Awas Vikas Parishad for selling their properties through e-auction. Creating a transparent and convenient channel for purchasers has also led to significant price appreciation for UPAVP,” Mjunction CEO, Vinaya Varma said.