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The Enforcement Directorate (ED) has summoned the chief administrator of the Greater Mohali Area Development Authority (GMADA) in connection with an alleged INR 150 crore money laundering investigation linked to change of land use (CLU) approvals granted to real estate projects in Mohali. The probe centres on alleged irregularities involving Suntec City and Altus Space Builders Pvt Ltd, with the agency seeking records related to approvals, financial transactions and officials involved in the process. The summons follows ED searches conducted across Mohali, Chandigarh and Patiala in the past week under the Prevention of Money Laundering Act (PMLA). Investigators are examining allegations that project approvals were obtained fraudulently and that homebuyers were misled regarding land permissions and delivery timelines in certain residential developments.
The Enforcement Directorate (ED) has summoned the chief administrator of the Greater Mohali Area Development Authority (GMADA) as part of its ongoing INR 150 crore money laundering investigation into alleged irregularities linked to change of land use (CLU) permissions granted to real estate projects in Mohali. Officials confirmed in the past week that the agency has directed the GMADA official to appear before its Jalandhar zonal office with records related to approvals issued to Suntec City and Altus Space Builders Pvt Ltd. Advertisement
According to investigation officials, the ED has sought complete documentation connected to CLU approvals, financial transactions between the builders and GMADA, and details of officials involved in the approval process. The probe is being conducted under provisions of the Prevention of Money Laundering Act, 2002, following allegations of irregularities in land licensing and project clearances linked to residential developments in the Mohali region.
The investigation stems from two Punjab Police FIRs involving allegations of land fraud, unauthorised project approvals and failure to hand over properties to buyers despite collection of funds from allottees. One of the FIRs, registered at Phase-11 police station in Mohali, pertains to Altus Space Builders’ ‘Millennium Court’ project at Nagiari village, where homebuyers alleged that plots were sold by presenting conditional CLU permissions as final approvals. Investigators alleged that buyers paid substantial amounts for plots but possession and sale deeds were not delivered within committed timelines.
The ED has also alleged that certain transactions involving the transfer of project assets may have been executed at significantly undervalued rates. Investigators are examining claims that a project associated with Altus Space Builders was acquired for nearly INR 130 crore despite an estimated market valuation exceeding INR 300 crore. Officials stated that the agency is scrutinising whether the transactions were structured to facilitate laundering of proceeds generated through the alleged fraud.
In the past week, the ED conducted simultaneous searches at 12 locations across Mohali, Chandigarh, New Chandigarh and Patiala linked to developers, intermediaries and associated firms, including Indian Cooperative Housing Building Society, Altus Space Builders, ABS Townships and Dheer Constructions. During the searches, investigators reportedly recovered around INR 1 crore in cash along with project-related documents and financial records that are now being examined as part of the wider probe.
Officials stated that the agency is now examining the role of GMADA officials in granting CLU permissions and verifying whether statutory charges and regulatory compliances linked to the approvals were fully executed. GMADA officials indicated that the authority would cooperate with the investigation and furnish all records sought by the agency.
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