mjunction expands e-auctions to real estate sector

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B2B e-commerce company mjunction services Ltd has expanded its services in the real estate sector, a company official said.

mjunction, a 50:50 joint venture between SAIL and Tata Steel, conducted e-auctions in the housing and real estate sector for the Uttar Pradesh Awas Vikas Parishad (UPAVP), he said.

The company is planning to launch this service in other states as well.

“mjunction has provided a customised platform to UPAVD for selling their properties through e-auction. This is just the beginning, and we expect to extend this to other states in the near future,” mjunction MD and CEO Vinaya Varma said.

Commercial plots for group housing, schools, nursing homes and hospitals were up for e-auction across six zones of the UPAVP – Lucknow, Meerut, Bareily, Agra, Varanasi and Kanpur.