The Directorate of Enforcement (ED) has provisionally attached assets worth approximately ₹503.48 crore in connection with its investigation into Raheja Developers Ltd., alleging large-scale diversion of funds collected from homebuyers. The attachment was made through a Provisional Attachment Order issued under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
According to the agency, the attached assets include immovable properties belonging to Raheja Developers Ltd. as well as properties held in the names of the company’s director, Navin M. Raheja, and his family members. The ED stated that the attached properties have an estimated current market value of around ₹503.48 crore.
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Investigation Based on Homebuyers’ Complaints
The money laundering investigation stems from multiple First Information Reports registered by the Economic Offences Wing (EOW). The complaints were filed by a large number of homebuyers in relation to various residential real estate projects launched by Raheja Developers Ltd.
The ED said it is investigating the company, its director Navin M. Raheja, and other associated individuals and entities under the provisions of the PMLA. The agency’s probe focuses on the utilization of funds raised from homebuyers for several housing projects undertaken by the company.
Funds Raised From Nearly 4,600 Homebuyers
According to the findings cited in the ED’s press release, Raheja Developers Ltd. mobilised approximately ₹2,425.99 crore from nearly 4,600 homebuyers across various projects.
The agency stated that evidence collected during the course of the investigation indicates that substantial portions of the funds collected from homebuyers were diverted and used for purposes other than the development and completion of the projects that had been promised to purchasers.
The ED said the findings formed the basis for the latest attachment action under the anti-money laundering law.
Total Attachments Rise Above ₹1,600 Crore
The latest attachment follows an earlier action taken by the agency on April 28, 2026, when properties belonging to Raheja Developers Ltd., related entities, director and promoter Navin M. Raheja, and his family members were attached. Those assets had an estimated current market value of ₹1,113.81 crore.
With the addition of assets valued at ₹503.48 crore under the present attachment order, the total estimated current market value of properties attached so far in the case has risen to approximately ₹1,617.29 crore, according to the ED.
The agency said further investigation into the matter is continuing.
