RealEstate – ED Attaches Gurugram Properties Worth Rs 82 Crore
RealEstate – The Enforcement Directorate has provisionally attached immovable assets valued at approximately Rs 82 crore in Gurugram as part of an ongoing probe into an alleged real estate fraud linked to the Ansal Hub-83 commercial development. Officials say the action aims to safeguard the interests of more than 1,000 investors who reportedly put money into the project but have yet to receive possession of their units.
The commercial complex, located in Gurugram, spans nearly 2.5 acres of land and was planned to include 147 retail shops, 137 office units and two restaurant spaces. Authorities allege that the project drew substantial investment over more than a decade but failed to meet its commitments.
Probe Triggered by Haryana Police FIR
The money laundering investigation was initiated after the Haryana Police registered a First Information Report against the promoters and senior executives of Ansal Housing Limited, previously known as Ansal Housing Construction Ltd. Among those named in the complaint is whole-time director Kushagra Ansal, along with associated companies M/s Samyak Projects Private Limited and M/s Aakansha Infrastructure Private Limited.
According to the Enforcement Directorate, the FIR alleged financial irregularities and deceptive practices in the marketing and execution of the commercial project. The federal agency subsequently began examining financial transactions and property records connected to the development.
Allegations of Misleading Assurances
Investigators claim that more than 1,000 individuals invested their savings in the project after being promised timely delivery and modern commercial infrastructure. Promotional materials and sales representations allegedly assured buyers of high-quality facilities and assured returns.
However, officials state that construction milestones were not achieved as promised. Even after nearly 15 years since the project’s launch, the development has reportedly not secured an occupation certificate, and possession has not been handed over to investors.
Several buyers approached the Haryana Real Estate Regulatory Authority, raising complaints related to delays, non-completion of construction, and alleged violations of statutory norms. Investors also alleged that funds were collected in violation of regulatory requirements.
Sales Continued After Licence Expiry
The Enforcement Directorate’s findings indicate that the project licence expired in December 2015. Despite this, developers allegedly continued to market and sell commercial units and collect payments from buyers until September 2023 without renewing the necessary approvals.
Authorities further claim that units were advertised and sold even before obtaining certain mandatory clearances at the initial stages of the project. The agency alleges that funds raised from investors were not fully utilized for completing construction but were diverted elsewhere.
Officials estimate that more than Rs 82 crore was collected from allottees between 2011 and 2023. The attached properties include the project land and the existing construction on site. The provisional attachment order has been issued to prevent any transfer, sale, or disposal of the assets while the investigation continues.
Legal Process and Next Steps
The attachment has been carried out under provisions of the Prevention of Money Laundering Act. The order is subject to confirmation by the adjudicating authority as per due legal process. The agency stated that further investigation is underway to trace the alleged diversion of funds and identify additional assets, if any.
The case highlights growing scrutiny of stalled real estate projects and financial compliance in the sector. Regulatory authorities have, in recent years, stepped up action in cases involving delayed possession and alleged misuse of investor funds.
Representatives of the accused entities have not publicly responded to the latest development at the time of reporting. The matter remains under investigation, and officials have indicated that further action will depend on the findings of ongoing inquiries.