ED Attaches ₹585 Crore Land in Haryana, UP in Real Estate Scam Linked to Homebuyer Fraud

The Enforcement Directorate has provisionally attached land parcels worth ₹585.46 crore across Haryana and Uttar Pradesh in connection with a money-laundering investigation involving an NCR-based real estate developer accused of cheating thousands of homebuyers.

The probe relates to ADEL Landmarks Limited, formerly known as Era Landmarks Limited, and its promoters. According to official findings, an attachment order was issued under the Prevention of Money Laundering Act (PMLA) for around 340 acres of land located in Gurugram, Faridabad, Palwal and Bahadurgarh in Haryana, along with Meerut and Ghaziabad in Uttar Pradesh.

Investigators stated that the case originates from 74 FIRs and multiple charge sheets filed by police authorities in Haryana and Delhi. The complaints allege that the company failed to deliver residential units to buyers even after delays ranging between 12 and 19 years.

Between 2006 and 2012, the developer launched several group housing projects, collecting approximately ₹1,075 crore as advance payments from 4,771 customers across eight projects. Despite the collections, the projects remain incomplete to date.

The investigation further revealed that a substantial portion of the funds collected from homebuyers was allegedly diverted to group companies for land purchases and other purposes instead of being used for construction. Several buyers seeking refunds were issued cheques that were later dishonoured.

Authorities also alleged that the company unilaterally altered approved project plans and reduced licensed land areas, resulting in the denial of promised amenities to buyers. The attached assets are expected to play a key role in recovery proceedings as the investigation continues.