India's Enforcement Directorate attaches assets in major real estate fraud cases

The Enforcement Directorate (ED) in New Delhi attached properties worth Rs 782.36 crore belonging to Raheja Developers Ltd and its director Navin M Raheja. The agency says the builder collected about Rs 2,425.99 crore from roughly 4,600 homebuyers for residential projects that were not delivered. Including earlier attachments, the total value of seized assets is estimated at Rs 2,399.65 crore.

Separately, the ED conducted searches at eight locations linked to Gurugram‑based real‑estate firms Imperia Wishfield Private Ltd and Imperia Structures Ltd. Officials seized cash of Rs 50.5 lakh, three high‑end luxury cars, digital devices and documents. The investigation alleges that the firms collected more than Rs 63 crore from buyers of the Elvedor project and diverted the funds, leaving buyers without possession after about 15 years.