ED Attaches ₹503.48 Crore Assets in Raheja Developers Case over Alleged Diversion of Home-buyers' Funds
Moneylife Digital Team 16 June 2026
The directorate of enforcement (ED) has provisionally attached immovable properties worth about ₹503.48 crore linked to Raheja Developers Ltd (RDL), promoter and director Navin M Raheja and his family members as part of an ongoing money laundering investigation into the alleged diversion of funds collected from homebuyers.
 
The attachment was carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. According to the agency, the attached assets comprise immovable properties belonging to Raheja Developers as well as properties held in the names of Mr Raheja and his family members.
 
With the latest attachment, the total estimated current market value of assets attached in the case has risen to approximately ₹1,617.29 crore.
 
ED said its investigation stems from multiple first information reports (FIRs) registered by the economic offences wing (EOW) following complaints from a large number of homebuyers regarding various residential real estate projects launched by the company.
 
According to the agency, investigations have revealed that Raheja Developers mobilised about ₹2,425.99 crore from nearly 4,600 homebuyers across multiple housing projects. However, evidence gathered during the probe allegedly indicates that substantial portions of these funds were diverted and utilised for purposes other than the development and completion of the projects for which the money had been collected.
 
ED alleged that funds raised from homebuyers, who invested in the company's residential projects with the expectation of receiving completed homes, were not fully utilised for project execution. The agency is examining the alleged diversion of these funds and the role of individuals and entities associated with the company.
 
The latest attachment follows an earlier provisional attachment order issued on 28 April 2026, under which ED had attached properties belonging to Raheja Developers, related entities, Mr Raheja and his family members. Those properties were estimated to have a current market value of about ₹1,113.81 crore.
 
Following the fresh attachment of assets worth ₹503.48 crore, the cumulative value of properties attached in the case now stands at around ₹1,617.29 crore, making it one of the largest attachment actions in a real estate-related money laundering investigation.
 
The case is significant because it involves complaints from thousands of home-buyers who allegedly invested substantial sums in residential projects that were either delayed or remained incomplete.
 
The agency said further investigation is continuing to trace the flow of funds, identify beneficiaries of the alleged diversion and examine the involvement of other associated individuals and entities.
Comments
bsrini54
3 months ago
Diverting funds, delaying projects, swindling cheating and harassing is in DNA of all builders save a handful. But the long and short of this action by ED is the homebuyers are still clueless and their supposed projects in limbo.
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