New Delhi, June 15, 2026
The ED attached immovable properties worth Rs 503 crore belonging to Raheja Developers and its officials in a case related to duping home buyers after collecting Rs 2,425.99 crore, said an official on Monday.
The Enforcement Directorate (ED) issued a Provisional Attachment Order (PAO) under the provisions of the PMLA, attaching immovable properties having an estimated current market value of approximately Rs 503.48 crore belonging to Raheja Developers Ltd, as well as immovable properties held in the names of Navin M. Raheja and his family members, the ED said in a statement.
Earlier, the ED had attached properties belonging to Raheja Developers, its related entities, Director/Promoter Navin M. Raheja, and his family members, having an estimated current market value of Rs 1,113.81 crore, in April, said the statement.
The ED is investigating the provisions of the Prevention of Money Laundering Act (PMLA), 2002, against Raheja Developers, Navin M. Raheja, and other associated individuals and entities, the agency said.
The investigation originates from multiple First Information Reports (FIRs) registered by the Economic Offences Wing (EOW) based on complaints lodged by a large number of homebuyers in connection with various residential real estate projects launched by the company, it said.
The ED investigation revealed that Raheja Developers mobilised funds amounting to approximately Rs 2,425.99 crore from nearly 4,600 homebuyers for various projects launched by the company.
However, evidence gathered during the investigation revealed that substantial amounts of the funds collected from homebuyers were diverted and utilised for purposes other than the development and completion of the promised projects, it said.
With the present attachment of assets valued at Rs 503.48 crore, the total estimated current market value of assets attached in this case so far, belonging to Raheja Developers, its related entities, Director/Promoter Navin M. Raheja, and his family members, stands at Rs 1,617.29 crore, the ED said.(Agency)
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