NEW DELHI: The Enforcement Directorate (ED) has attached colonies and plots spanning over 1,900 acres, valued at over Rs 680 crore, related to the Ramprastha real estate group in Gurugram due to an alleged fraud involving homebuyers.
A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) against Ramprastha Promoters and Developers Pvt Ltd (RDDPL) and its affiliates, the agency announced in a statement.
The properties attached include various plotted colonies within Ramprastha City covering 226 acres in Sectors 37D, 92, and 95, as well as land parcels totaling 1,700 acres in Basai, Gadoli Kalan, Hayatpur, and Wazipur, all in Gurugram. The total estimated value of these assets is Rs 681.54 crore.
The company and its directors have not been reachable for comments regarding the ED’s actions against them.
The money laundering investigation arises from several FIRs filed by the Economic Offences Wing (EOW) of both the Delhi and Haryana Police, triggered by complaints from numerous homebuyers against RPDPL and its promoters—including Arvind Walia, Balwant Chaudhary, and Sandeep Yadav—due to their “failure” to deliver promised flats and plots in a timely manner, the ED stated.
According to the findings, various projects from RPDPL, including Project Edge, Project Skyz, Project Rise, and Ramprastha City (spread across different sectors in Gurugram), were launched between 2008 and 2011. However, possession of the flats and plots has yet to be granted even after 14-17 years. The company raised approximately Rs 1,100 crore from over 2,000 homebuyers for these projects but allegedly diverted the funds to its group companies for land acquisitions instead of completing the promised developments.
