What Actions Are Being Taken Against Builders Cheating Homebuyers in NCR?
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Synopsis
In a groundbreaking operation, the CBI has registered 22 FIRs against builders in NCR for cheating homebuyers, following a Supreme Court directive. This investigation highlights the exploitation of vulnerable buyers and the need for accountability in the real estate sector.
Key Takeaways
- CBI's crackdown on builders highlights the issue of real estate fraud.
- 22 FIRs filed against builders and financial officials.
- Supreme Court's involvement stresses the gravity of the situation.
- The misuse of subvention schemes has drawn attention in this case.
- The investigation is ongoing with potential for further developments.
New Delhi, July 30 (NationPress) In an extensive operation targeting real estate deception in the National Capital Region (NCR), the Central Bureau of Investigation (CBI) has filed 22 FIRs against various builders and unidentified officials from different financial institutions for purportedly defrauding thousands of homebuyers.
This initiative is a response to directives from the Supreme Court.
The CBI conducted searches at 47 locations throughout Delhi, Gurugram, Noida, Greater Noida, and Ghaziabad related to these cases. Numerous incriminating documents and digital evidence were confiscated during the raids, according to the agency.
The inquiry originates from multiple petitions lodged by distressed homebuyers in the Supreme Court. Thousands of buyers, duped by developers and subsequently oppressed by aggressive actions from financial institutions, sought justice from the apex court.
Recognizing the complaints, the Supreme Court in April 2025 mandated the CBI to conduct an exhaustive investigation into the alleged collusion between builders and financial institutions.
The court specifically highlighted the exploitation of the ‘subvention scheme’ — a home loan model designed to attract buyers with promises of no EMI until possession of the property, often resulting in extensive defaults and unfinished projects.
Following the SC directive, the CBI initially opened seven Preliminary Enquiries (PEs). Within three months, it completed six and presented a status report to the court.
After assessing the CBI’s findings, the Supreme Court instructed the agency to transform the findings into 22 formal FIRs. Consequently, the CBI registered the cases and initiated a comprehensive search operation across various NCR cities.
Among the builders implicated in the FIRs are M/s Supertech Limited, M/s AVJ Developers (India) Pvt. Ltd / 'AVJ Heights', M/s Earthcon Universal Infratech Pvt. Ltd / 'Casa Royale', M/s Rudra Buildwell Projects Pvt. Ltd / 'Rudra Palace Heights', M/s Geotech Promoters Pvt. Ltd / 'Geotech Blessings', M/s Shubhkamna Buildtech Pvt. Ltd / 'Shubhkamna City', M/s Bulland Buildtech Pvt. Ltd / 'Bulland Elevates', M/s Jaypee Infratech Ltd / 'Orchards', M/s Decent Buildwell Pvt. Ltd / 'Shri Radha Aqua Gardens', M/s Rudra Buildwell Construction Pvt. Ltd / 'KBNOWS Apartments', M/s Saha Infratech Pvt. Ltd / 'Amadeus', M/s Dream Procon Pvt. Ltd / 'Victory Ace', M/s Logix City Developers Pvt. Ltd / 'Blossom Zest', among others.
The CBI has indicated that the investigation is ongoing, and additional actions may ensue based on discoveries.
Point of View
We stand with the community of homebuyers who have suffered due to deceitful practices in the real estate sector. This decisive action by the CBI exemplifies the importance of accountability and transparency, reinforcing our commitment to fair housing practices.
NationPress
31/07/2025
Frequently Asked Questions
What prompted the CBI's investigation into builders?
The investigation was initiated following multiple petitions from homebuyers who alleged that they were cheated by developers and faced harassment from financial institutions.
How many FIRs have been registered by the CBI?
The CBI has registered 22 FIRs against various builders and unidentified financial institution officials.
What is the 'subvention scheme' mentioned in the context?
The 'subvention scheme' is a home loan model that lured buyers with promises of no EMI until possession, but often resulted in defaults and incomplete projects.
What actions have been taken by the CBI so far?
The CBI has conducted searches at 47 locations and seized numerous incriminating documents and digital evidence in connection with the cases.
Are more actions expected from the CBI?
Yes, the CBI has indicated that the investigation is ongoing and more actions may follow based on the findings.
