ED Attaches ₹634 Crore in Unitech Noida Project Amid Money Laundering Probe

The Enforcement Directorate (ED) on Friday said it has attached assets worth ₹634 crore linked to the Unitech Group’s Golf and Country Club project in Noida as part of an ongoing money laundering investigation into alleged diversion of homebuyers’ funds.

The provisional order under the Prevention of Money Laundering Act (PMLA) covers leasehold rights over 347.83 acres of land in Sectors 96, 97 and 98 of Noida, along with equity holdings routed through consortium and special purpose company structures involving Sungrace Products (India) Pvt. Ltd. (Uflex Group) and CIG Infrastructure Pvt. Ltd.

While the attached value is pegged at ₹634.12 crore , the agency noted that the fair market value may be as high as ₹8,115 crore .

The case stems from 76 FIRs filed by Delhi Police and the CBI against Unitech Limited, its promoters and directors, over allegations of diversion of funds collected from homebuyers, investors and financial institutions. According to the ED, the company raised ₹16,075.89 crore , of which ₹7,794.35 crore was allegedly diverted for non-mandated purposes.

The agency also alleged that certain entities continued to derive economic benefits from the project without making proportional financial contributions. Earlier, assets worth ₹2,281 crore had also been attached, and three charge sheets have been filed so far.

The case once again underscores how India’s real-estate sector continues to be plagued by large-scale fund diversion cases , exposing persistent regulatory gaps, weak project monitoring, and delayed enforcement mechanisms that have left homebuyers vulnerable despite multiple interventions over the years.