ED attaches assets worth ₹681.54 crore in Ramprastha Promoters & Developers case-OxBig News Network

The Enforcement Directorate has attached immovable properties worth ₹681.54 crore linked to Ramprastha Promoters & Developers Private Limited (RPDPL) and its group companies, in a case alleging that homebuyers were cheated.

The attached assets include two plotted colonies of Ramprastha City, measuring about 226 acres at Sector 37D, Sector 92, and Sector 95, Gurugram, as well as land parcels measuring about 1,700 acres in Basai, Gadoli Kalan, Hayatpur, and Wazipur, Gurugram.

The ED probe is based on cases registered by the Delhi Police’s Economic Offences Wing (EOW) and the Haryana Police, following complaints from numerous homebuyers against RPDPL and its promoters Arvind Walia, Balwant Chaudhry Singh, and Sandeep Yadav. They allegedly failed to deliver the flats and plots within the promised timeframes.

“ED investigation revealed that various projects of RPDPL, such as Project Edge, Project Skyz, Project Rise, and Ramprastha City (a plotted colony project) situated at Sectors 37D, 92, and 95, Gurugram, were launched between 2008 and 2011, and possession of flats and plotted lands is yet to be given even after the lapse of more than 14 to 17 years,” it said.

As alleged, RPDPL collected about ₹1,100 crore from over 2,000 homebuyers for these projects. The funds were allegedly diverted.