The Enforcement Directorate (ED) has provisionally attached immovable assets worth ₹681.54 crore belonging to the Ramprastha Group, in connection with a money laundering case linked to the alleged cheating of homebuyers. The assets, spread over 1,900 acres in Gurugram, include plotted colonies and land parcels that were part of multiple delayed real estate projects.
According to the ED’s statement on Saturday, the properties have been attached under the provisions of the Prevention of Money Laundering Act (PMLA), following multiple FIRs filed by the Economic Offences Wings (EOW) of Delhi and Haryana Police. The complaints, filed by numerous homebuyers, accuse Ramprastha Promoters and Developers Pvt Ltd (RPDPL) and its directors of failing to deliver possession of promised flats and plots despite receiving full or partial payments over a decade ago.
The attached properties include developed areas of Ramprastha City in Gurugram’s Sectors 37D, 92, and 95, along with nearly 1,700 acres of land in Basai, Gadoli Kalan, Hayatpur, and Wazipur. These projects were launched between 2008 and 2011 under various schemes such as Project Edge, Project Skyz, Project Rise, and the larger Ramprastha City township. Despite initial construction activity and extensive marketing campaigns, delivery of units remains incomplete even after 14–17 years.
The ED’s investigation found that over ₹1,100 crore had been collected from approximately 2,000 homebuyers across these projects. Instead of using the funds for construction and infrastructure development, the promoters allegedly diverted a significant portion of the money to group entities. These internal transfers were reportedly shown as advances for land purchases and unrelated investments, contributing to long delays in project execution.
Promoters Arvind Walia, Balwant Chaudhary, and Sandeep Yadav have been named as key individuals in the alleged diversion of funds. The ED stated that buyers were repeatedly assured of timely delivery, but physical progress on most projects remained negligible. Investigators are also reviewing the financial transactions between group companies to establish the money trail and identify additional violations under financial regulations.
Neither the Ramprastha Group nor any of its directors have issued a statement in response to the ED’s action. Attempts to reach company representatives for comment remained unanswered at the time of reporting.
This is the latest in a series of enforcement actions against real estate companies in the Delhi-NCR region, where delayed projects and financial mismanagement have left thousands of homebuyers in limbo. In June 2025, the ED attached assets worth ₹2,348 crore linked to another NCR-based developer in a similar probe. Such cases highlight the ongoing regulatory push to hold developers accountable for project delays and misuse of buyer funds.
Image- enforcementdirectorate.gov.in
