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ED Attaches ₹503 Crore Worth of Raheja Developers' Assets in Money Laundering Probe

Published: June 16, 2026 | Category: Real Estate
ED Attaches ₹503 Crore Worth of Raheja Developers' Assets in Money Laundering Probe

NEW DELHI: The Enforcement Directorate (ED) has announced the attachment of fresh assets worth about ₹503 crore as part of its ongoing money-laundering investigation into Raheja Developers and its promoter, Navin M Raheja. The agency issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA).

The order has attached immovable properties with an estimated current market value of ₹503.48 crore belonging to Raheja Developers Ltd., as well as properties held in the names of Navin M Raheja and his family members, as stated in an official statement on Monday.

The probe stems from multiple FIRs registered by the Economic Offences Wing (EOW) based on complaints lodged by a large number of homebuyers regarding various residential projects launched by the company. According to the ED, its investigation found that Raheja Developers mobilized funds of ₹2,425.99 crore from nearly 4,600 homebuyers for various projects.

The agency alleged that evidence gathered during the probe showed 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 it uncovered a large-scale diversion of funds in the case and attached the assets as part of its efforts to trace and secure the proceeds of crime.

Raheja Developers, however, has categorically denied the allegations of fraud. 'No wrongdoing has been committed against any homebuyer. In fact, Raheja Developers Ltd. has invested significantly more funds into the project than what has been collected from customers,' the company said in a statement. 'This has also been substantiated in the forensic audit conducted under the supervision of the Haryana Real Estate Regulatory Authority,' it added.

In April, the agency had already attached properties belonging to Raheja Developers, its related entities, promoter Navin M Raheja, and his family members, with an estimated current market value of ₹1,113.81 crore. 'With the present attachment of assets valued at approximately ₹503.48 crore, the total estimated current market value of assets attached in this case so far stands at approximately ₹1,617.29 crore,' the ED said.

This move by the ED is part of a broader effort to ensure that homebuyers' funds are not misappropriated and to maintain transparency and accountability in the real estate sector.

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Frequently Asked Questions

1. What is the Enforcement Directorate (ED)?
The Enforcement Directorate (ED) is a law enforcement agency in India responsible for enforcing economic laws and fighting financial crimes. It operates under the Ministry of Finance.
2. What is the Prevention of Money Laundering Act (PMLA)?
The Prevention of Money Laundering Act (PMLA) is an Indian law aimed at preventing the laundering of money obtained from illegal activities and to provide for the confiscation of property derived from, or involved in, money laundering.
3. Why did the ED attach Rahej
Developers' assets? A: The ED attached Raheja Developers' assets as part of a money-laundering investigation into alleged fraud against homebuyers. The agency found evidence of the diversion of funds collected from homebuyers for purposes other than the development and completion of promised projects.
4. How much are the total assets attached by the ED in this case?
The total estimated current market value of assets attached by the ED in this case stands at approximately ₹1,617.29 crore, including the recent attachment of assets worth ₹503.48 crore.
5. What is Rahej
Developers' response to the allegations? A: Raheja Developers has denied the allegations of fraud, stating that no wrongdoing has been committed against any homebuyer and that the company has invested significantly more funds into the projects than what has been collected from customers. This claim is supported by a forensic audit conducted under the supervision of the Haryana Real Estate Regulatory Authority.