Major Real Estate Fraud Unearthed: Rs 500 Crore Scandal in Gurugram

The Enforcement Directorate has uncovered a significant fraud involving two real estate giants, Orris Infrastructure and Three C Shelters, resulting in homebuyers losing over Rs 500 crore.

Real Estate FraudMoney LaunderingGreenpolis ProjectEnforcement DirectorateGurugramReal EstateDec 03, 2024

Major Real Estate Fraud Unearthed: Rs 500 Crore Scandal in Gurugram

Real Estate:The Enforcement Directorate has recently exposed a major real estate fraud in the NCR region, involving two prominent companies Orris Infrastructure Private Limited and Three C Shelters Private Limited. This scandal has left homebuyers in shock, with over Rs 500 crore allegedly siphoned off from various projects.On November 25, the authorities conducted raids across 14 locations in Delhi-NCR, targeting the properties of Orris Infrastructure, its directors, and Three C Shelters. The operation was part of a broader investigation into a money laundering case initiated by the Delhi Police's Economic Offences Wing (EOW). Despite multiple attempts, the companies have not responded to the allegations.The core of the scandal revolves around the Greenpolis project in Gurugram. Homebuyers were promised luxurious apartments and amenities, but the development rights were reportedly exploited. Funds were siphoned off, leaving many investors without their homes and significant financial losses.During the raids, authorities seized incriminating documents, luxury vehicles, and accounts holding over Rs 31 crore. This action has shed light on the depth and breadth of the fraud, raising concerns about the regulatory oversight in the real estate sector.Orris Infrastructure, a well-known name in the real estate industry, has been involved in several high-profile projects. However, this latest scandal has tarnished its reputation. Three C Shelters, another significant player, has also come under scrutiny for its role in the Greenpolis project.The investigation is ongoing, and more details are expected to emerge as the Enforcement Directorate and the EOW continue their probe. Homebuyers and investors are advised to be cautious and seek legal advice if they suspect any irregularities in their real estate transactions.This case highlights the need for stricter regulations and transparency in the real estate sector to protect the interests of homebuyers and investors. The government has already expressed its commitment to tightening laws and enhancing oversight to prevent such frauds from occurring in the future.

Frequently Asked Questions

What companies are involved in the real estate fraud in Gurugram?

The companies involved in the real estate fraud in Gurugram are Orris Infrastructure Private Limited and Three C Shelters Private Limited.

How much money was allegedly siphoned off in this fraud?

Allegedly, over Rs 500 crore was siphoned off in this real estate fraud.

What project is at the center of this scandal?

The Greenpolis project in Gurugram is at the center of this real estate fraud scandal.

What actions did the Enforcement Directorate take during the investigation?

The Enforcement Directorate conducted raids across 14 locations in Delhi-NCR, seizing incriminating documents, luxury vehicles, and accounts holding over Rs 31 crore.

What is the current status of the investigation?

The investigation is ongoing, and the Enforcement Directorate and the Delhi Police's Economic Offences Wing are continuing their probe into the money laundering case.

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