CBI Registers 22 FIRs Against Builders in NCR for Housing Scam

The Central Bureau of Investigation (CBI) has taken significant action in the ongoing housing scam in the National Capital Region (NCR). On Wednesday, the CBI registered 22 FIRs against different builders operating in the NCR and unknown functionaries of various financial institutions. This move comes nearly a week after the Supreme Court directed the CBI to investigate a possible nexus between builders and financial institutions that allegedly cheated and defrauded thousands of homebuyers in the region.

The CBI's action is in compliance with the Supreme Court's directive. After registering the cases, agency sleuths conducted searches at 47 premises linked to the accused across the NCR. Scores of homebuyers in the NCR, who were allegedly cheated by builders and developers and further coerced by financial institutions for repayment of their loans, had earlier approached the Supreme Court by filing Special Leave Petitions (SLPs) to seek relief.

A spokesperson for the CBI, in an official statement, said, “The Supreme Court, observing the unholy nexus between the builders and the financial institutions in cheating the homebuyers by innovating and introducing the ‘Subvention Scheme’ of home loans, in the month of April 2025, had directed the CBI to register 7 Preliminary Enquiries (PEs).” Following the Supreme Court's directives, the CBI registered seven Preliminary Enquiries (PEs) and, after completing the enquiry in six of them within three months, submitted the status report to the Supreme Court.

Upon perusal of the status report submitted by the CBI, the Supreme Court directed the CBI to register 22 Regular Cases against different builders in the NCR area and unknown officials of financial institutions. Therefore, the CBI has registered 22 cases and conducted searches at 47 locations in Delhi, Gurugram, Noida, Greater Noida, and Ghaziabad. Various incriminating documents and some digital electronic evidence have been seized during the searches, and the investigation is continuing.

Prominent among the 22 real estate companies named in the FIRs include M/s Supertech Limited, M/s Earthcon Universal Infratech Pvt. Ltd./ “Casa Royale”, M/s Bulland Buildtech Pvt. Ltd./ “Bulland Elevates”, M/s Rudra Buildwell Construction Pvt. Ltd./ “KBNOWS Apartments”, M/s Logix City Developers Pvt. Ltd./ “Blossom Zest”, M/s Jaypee Infratech Ltd./ “Orchards”, M/s Ajnara India Ltd./ “Ajnara Ambrosia”, and Jaypee Sports International Limited/Jaiprakash Associates Limited (Kove Project, Kassia Project). The CBI's action is expected to bring some relief to the aggrieved homebuyers and restore faith in the real estate sector in the NCR.