mjunction provides e-platform for sale of UPAVP prime plots

For the first time, mjunction services limited, India‘s largest B2B e-commerce company, has conducted e-auctions in the housing and real estate sector for the Uttar Pradesh AwasVikasParishad (UPAVP). 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, Bareily, Agra, Varanasi and Kanpur. A total of 17 plots have been sold from these zones. MD & CEO of mjunction, Vinaya Varma said that UPAVP, which is also known as the Uttar Pradesh Housing and Development Board, helped bring in transparency and aided in discovery of market-determined price for its various properties. UPAVP was following an offline process till now; mjunction customized the e-auction platform to make it convenient for potential buyers, by getting them direct access to UPAVP properties, besides being assured of market-driven price discovery. It has provided a customized platform to Uttar Pradesh Awas Vikas Parishad for selling their properties through e-auction, he said.