ED attaches Rs 503 crore in Raheja Developers case
The Enforcement Directorate (ED) has provisionally seized properties worth about Rs 503.48 crore from Raheja Developers Ltd., its Chairman and Managing Director Navin M Raheja, and his family. This step, under the Prevention of Money Laundering Act (PMLA), 2002, is part of a larger investigation into claims that homebuyers were cheated. With this Provisional Attachment Order (PAO) from the ED’s Delhi office, the total value of attached properties in the case is now about Rs 1,617.29 crore.
This order follows earlier claims that large sums collected from homebuyers were routed through related businesses and shell companies for reasons unrelated to the projects. The ED found that Raheja Developers Ltd. collected about Rs 2,425.99 crore from around 4,600 homebuyers for different residential projects, promising to deliver homes. The case began after the Economic Offences Wing (EOW) of the Delhi Police filed several First Information Reports (FIRs) in response to complaints from buyers who said they were cheated and did not receive the flats they were promised. Many complaints concern projects in the National Capital Region (NCR), especially in Gurugram, such as Raheja Revanta. Homebuyers have reported long delays, not getting their homes even after years of payments, and not knowing how their money was used.
The Enforcement Directorate (ED) has carried out several searches connected to the Raheja Revanta project in Gurugram, which has faced many complaints from buyers. On June 27, 2025, the ED searched offices and homes linked to the company and its associates under Section 17 of the PMLA. During these searches, officials seized documents, digital evidence, jewellery, bullion worth about Rs 15.82 crore, and foreign currency valued at around Rs 15 lakh. Additional searches took place on April 25, 2026.
Analysis of the seized materials and other evidence reportedly showed a complicated system for moving money. The funds were allegedly used for things not related to the projects, raising concerns about money laundering linked to cheating and criminal activity. Braheja Developers Ltd., founded in 1990 by Navin M. Raheja, has built many residential and commercial projects in Delhi-NCR and attracted thousands of buyers.
The company has faced ongoing complaints from homebuyers about delays and quality issues. Some projects have also undergone insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) following action by homebuyer groups.
This new attachment by the ED hasincreased regulatory pressure on the company and its leaders. However, provisional attachments made by the Adjudicating Authority under the PMLA can be challenged in court. The ED says that its investigation is ongoing. The agency is following the money trail and examining the roles of related companies, including N A Buildwell Pvt. Ltd. and Riyasat Palaces Ltd. These companies were also involved in the April 2026 attachment of properties valued at about Rs 1,113.81 crore and were the final recipients of the allegedly diverted funds.
This shows the ED’s focus on real estate cases in which large sums were collected from homebuyers and allegedly misused. Thousands of affected buyers are waiting for the courts and regulators to resolve the case, and they may recover some money from the attached assets if the charges are proven. The investigation continues, and the ED is expected to file additional reports and request confirmation of the attachments soon.
