The Enforcement Directorate (ED) has launched a money laundering investigation against Sidhartha Buildhome Pvt. Ltd. (SBPL), a Gurugram-based developer, over allegations of duping 950 homebuyers. The probe stems from complaints filed with the Economic Offences Wing (EOW) of Delhi Police, citing project delays and fund mismanagement.
The ED has attached assets worth ₹95 crore, including land parcels, residential houses, and commercial buildings, under the Prevention of Money Laundering Act (PMLA). Investigators allege that SBPL collected ₹520 crore from buyers but diverted funds to group companies instead of completing promised projects.
Experts predict that this case will impact buyer confidence, prompting stricter regulatory oversight in Gurugram’s real estate sector. As authorities tighten compliance measures, investors and homebuyers are expected to demand greater transparency in property transactions.
