The Enforcement Directorate has issued a public alert for homebuyers to verify builder credentials and RERA registration amid a Rs 129.80 crore asset attachment linked to alleged misappropriation, signalling a crackdown on real estate scams.
The Enforcement Directorate has told homebuyers to be on guard against builders who refuse to disclose RERA registration details, press for cash payments or hold back refunds, as it stepped up its public warning alongside a fresh property attachment in Ahmedabad. The agency said buyers should check whether a project is registered, whether the land carries any encumbrance, and whether title documents and statutory approvals are in order before paying over any money.
According to the ED, purchasers should not depend on verbal assurances, booking forms or notarised papers alone. It said buyers should insist on a proper agreement for sale or sale deed and treat unusually high returns, guaranteed buybacks and steep discounts as warning signs. The message echoes broader consumer protection advice from state regulators, including Telangana’s RERA authority, which has warned that unapproved pre-launch offers can be illegal and risky.
The federal agency’s warning came as it provisionally attached assets worth Rs 129.80 crore linked to an Ahmedabad realty group and associated persons under the Prevention of Money Laundering Act. The ED said the case began with multiple police complaints and court filings alleging that the accused misled ordinary homebuyers, small investors, traders and middle-class families by presenting their schemes as genuine developments while allegedly lacking mandatory approvals, including RERA registration.
The ED said the attachment was intended to prevent the assets from being sold or hidden further and to protect the interests of affected buyers and other legitimate claimants. It has urged anyone who is asked to pay cash, denied documents, kept waiting for registered papers or asked to accept a transfer of project land to a third party to report the matter to law enforcement, RERA and other competent authorities.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
