Gurgaon: Enforcement Directorate (ED) has provisionally attached immovable properties worth approximately Rs 503.4 crore in connection with its ongoing money laundering investigation against Raheja Developers Ltd (RDL), promoter-director Navin M Raheja and associated entities, taking the total value of attached assets in the case to around Rs 1,617.2 crore.According to an ED press release issued on Monday, the latest attachment was made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The attached properties belong to Raheja Developers Ltd as well as assets held in the names of Navin M Raheja and his family members.The central agency said its investigation stems from multiple FIRs registered by the economic offences wing (EOW) based on complaints filed by a large number of homebuyers regarding various residential real estate projects launched by the company.ED officials said the probe revealed that Raheja Developers mobilised approximately Rs 2,425.9 crore from nearly 4,600 homebuyers across several projects. However, evidence gathered during the investigation allegedly indicates that substantial portions of the funds collected from buyers were diverted and utilised for purposes other than the development and completion of the promised housing projects.The agency alleged that the diversion of funds adversely affected project execution and affected thousands of homebuyers awaiting possession of their homes.This is the second major attachment in the case within a span of less than two months. ED noted that it earlier attached assets worth an estimated Rs 1,113.81 crore belonging to Raheja Developers, related entities, Navin M Raheja and his family members through a Provisional Attachment Order dated April 28, 2026.With the fresh attachment of properties worth Rs 503.48 crore, the cumulative value of assets attached in the case has now risen to over Rs 1,617 crore, making it one of the largest attachment actions linked to alleged diversion of homebuyers’ funds in the real estate sector.The investigation is being conducted under the anti-money laundering law to trace the alleged proceeds of crime and identify assets acquired through the suspected diversion of project funds. ED said further investigation into the matter is continuing and additional action may follow based on the outcome of the ongoing probe.The case has attracted significant attention from affected homebuyers, many of whom have been pursuing legal and regulatory remedies over delays and non-completion of projects for several years. The latest attachment is expected to strengthen efforts to secure assets linked to the alleged financial irregularities while the investigation progresses.
