In a major boost to the real estate sector, the Uttar Pradesh Housing and Development Board (UPHDB) has raised ₹11.68 billion through a large-scale online property auction held on the occasion of Vijayadashami. The auction saw a strong response from buyers and investors, making it one of the most successful property auctions in the state’s history.
The e-auction featured 992 plots across seven major districts — Lucknow, Kanpur, Agra, Aligarh, Moradabad, Ghaziabad, and Kasganj. These included both residential and non-residential properties, such as commercial and institutional plots, located in key urban areas.
The digital auction platform was launched to streamline the process, ensuring transparency, fairness, and broader accessibility. Registrations opened in mid-September, and the entire bidding process was conducted online, reflecting the state government’s push towards digitisation and efficient asset management.
According to officials, the funds generated from the auction will be invested in housing projects, infrastructure development, and urban renewal initiatives. This includes the construction of affordable housing and improvements in civic amenities, aligning with the state’s broader goal of inclusive urban development.
The auction’s success is being viewed as a reflection of increasing investor confidence in Uttar Pradesh’s property market, driven by reforms, improved governance, and strong demand in key cities. It also highlights the potential of e-auctions as a model for unlocking the value of public assets in a transparent and efficient manner.
