In a significant escalation of enforcement action in Haryana’s property market, the Enforcement Directorate has provisionally attached assets valued at Rs 82 crore in connection with an alleged Gurugram real estate fraud linked to the commercial project known as Ansal Hub 83.
The properties, located in Sector 83 of Gurugram, include project land and partially constructed structures forming part of a commercial complex comprising retail units, office spaces and hospitality components. The attachment has been carried out under provisions of the Prevention of Money Laundering Act 2002, aimed at preventing the transfer or disposal of assets during investigation. The probe was triggered by a criminal case registered by the Haryana Police in 2023 against senior executives of Ansal Housing Limited and associated entities. Allegations include criminal conspiracy, breach of trust and cheating in relation to funds collected from investors over more than a decade. According to investigators, the project was marketed and units were sold prior to securing complete statutory approvals. Authorities have indicated that although the development licence expired in 2015, bookings and collections reportedly continued for several years thereafter. The investigation further alleges that funds raised from buyers were diverted rather than deployed for timely completion of the project. Investor grievances had also been brought before the Haryana Real Estate Regulatory Authority, citing prolonged delays, non-delivery of possession and non-issuance of occupation certification. Regulatory complaints and criminal proceedings together underscore the layered compliance issues that can arise in large commercial developments.
Legal experts note that provisional attachment under anti-money laundering law does not determine guilt but is designed to safeguard potential proceeds of crime pending adjudication. However, such action can significantly impact project resolution pathways, including restructuring, insolvency or third-party takeover attempts. Urban development specialists say the case reflects persistent structural vulnerabilities in pre-regulation era projects, particularly those launched before the nationwide implementation of real estate regulatory mechanisms. In high-growth corridors like Gurugram, aggressive pre-sales models historically outpaced oversight systems, exposing retail investors to completion risk. The episode also raises broader questions about due diligence and financial transparency in commercial real estate a segment often marketed to small investors seeking rental income and capital appreciation. Analysts argue that stronger escrow monitoring, milestone-based fund utilisation and real-time disclosure systems are critical to restoring confidence.
As the investigation progresses, the attached assets will remain under enforcement control pending further proceedings. The outcome could influence how stalled commercial assets in the National Capital Region are resolved, particularly where allegations of fund diversion intersect with investor protection and regulatory accountability.
Also Read: Delhi real estate dispute paused by RERA
Gurugram commercial project faces ED action
