- Enforcement Directorate attached Rs 503.48 crore in Raheja Developers money laundering probe
- Properties belong to Raheja Developers, promoter Navin M. Raheja, and family members
- Probe follows FIRs by Economic Offences Wing over complaints from around 4,600 homebuyers
The Enforcement Directorate has attached properties valued at approximately Rs 503.48 crore belonging to Raheja Developers Ltd., its promoter Navin M. Raheja, and his family members as part of a money laundering probe into the alleged misuse of funds collected from homebuyers.
In a statement issued on Monday, the agency said the attachment was carried out under the Prevention of Money Laundering Act (PMLA), 2002, and covers several immovable properties owned by the company and the Raheja family.
The probe stems from multiple First Information Reports (FIRs) registered by the Economic Offences Wing (EOW) following complaints from homebuyers across various residential projects developed by Raheja Developers.
According to the ED, its investigation found that the company had collected nearly Rs 2,425.99 crore from around 4,600 homebuyers for multiple housing projects.
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However, the agency alleged that a substantial portion of these funds was diverted and used for purposes unrelated to the development and completion of the promised projects.
“Evidence gathered during the course of the investigation reveals that substantial amounts of the funds collected from homebuyers have been diverted and utilized for purposes other than the development and completion of the promised projects,” the ED said in the statement.
The latest attachment comes after the agency had provisionally attached assets with an estimated market value of Rs 1,113.81 crore in April 2026.
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With the fresh action, the total value of assets attached in the case has risen to approximately Rs 1,617.29 crore.
The ED said further investigation into the matter is underway.
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