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The Enforcement Directorate has attached assets worth around INR 503 crore in its ongoing money-laundering investigation against Raheja Developers. The action is linked to allegations of fraud involving homebuyers and suspected diversion of funds collected from multiple housing projects. Earlier attachments in the same case had already taken the total value of seized properties beyond INR 1,100 crore. With the latest move, the cumulative value of attached assets in the case has risen to nearly INR 1,617 crore, involving the company, its promoter Navin M Raheja, and associated family members.
The Enforcement Directorate has expanded its action in the ongoing investigation against Raheja Developers by attaching assets worth approximately INR 503 crore. The move is part of a wider money-laundering probe linked to allegations of fraud involving homebuyers and suspected diversion of funds collected for real estate projects.
The attached assets include immovable properties linked to Raheja Developers Ltd, its promoter Navin M Raheja, and members of his family. These properties are reportedly connected to funds raised from homebuyers across several residential developments.
The case originates from multiple complaints and FIRs registered by the Economic Offences Wing of the Delhi Police. Homebuyers had alleged that large sums were collected from them under housing schemes, but several projects faced delays and issues related to delivery of flats.
According to the Enforcement Directorate, Raheja Developers and associated entities are believed to have collected around INR 2,425.99 crore from nearly 4,600 homebuyers across different projects. Investigators have also found indications that a significant portion of these funds was allegedly diverted instead of being used for construction and project completion.
This latest attachment comes after earlier enforcement actions in which assets worth over INR 1,113.81 crore were already seized. With the fresh attachment, the total value of properties under ED possession in the case has reached nearly INR 1,617 crore.
The investigation is still ongoing, with the agency continuing to trace fund flows, examine transactions, and identify additional properties linked to the alleged irregularities. Further enforcement actions may follow as the probe progresses.
Source PTI
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