The Enforcement Directorate (ED) has attached additional assets worth approximately ₹503 crore in connection with its ongoing money laundering investigation against Raheja Developers and its promoter, Navin M. Raheja. The latest action has significantly increased the total value of attached assets in the case to around ₹1,617.29 crore, making it one of the most notable enforcement actions involving the real estate sector in recent years.
According to the ED, the attachment was carried out under the provisions of the Prevention of Money Laundering Act (PMLA). The newly attached assets include immovable properties owned by Raheja Developers Ltd. as well as properties held in the names of Navin M. Raheja and his family members. The agency stated that the current market value of these assets is estimated at ₹503.48 crore.
The investigation originates from multiple First Information Reports (FIRs) registered by the Economic Offences Wing (EOW) following complaints from a large number of homebuyers. These complaints relate to various residential projects launched by the developer, where buyers alleged delays and other issues associated with project completion.
As part of its investigation, the ED examined financial transactions linked to the company’s projects. The agency claims that Raheja Developers raised approximately ₹2,425.99 crore from nearly 4,600 homebuyers across multiple residential developments. According to the ED, evidence gathered during the probe suggests that substantial portions of these funds were allegedly diverted and used for purposes other than the construction and completion of the promised housing projects.
The enforcement agency has described the case as involving large-scale diversion of funds and stated that the attached properties represent proceeds of crime identified during the investigation. The latest attachment follows an earlier action in April 2026, when the ED attached assets worth about ₹1,113.81 crore belonging to the company, related entities, and members of the promoter’s family.
Raheja Developers, however, has strongly denied all allegations of wrongdoing. The company has maintained that no fraud has been committed against homebuyers and asserted that it has invested significantly more money into its projects than the amount collected from customers. It also cited findings from a forensic audit conducted under the supervision of the Haryana Real Estate Regulatory Authority (HRERA), claiming that the audit found no evidence of fund diversion or misuse.
Image source- enforcementdirectorate.gov.in
