Real estate tycoons arrested for ₹1,100 crore homebuyers' fraud

Business Jul 21, 2025

Big news in the real estate world: The Enforcement Directorate (ED) has arrested Sandeep Yadav and Arvind Walia, who run the Ramprastha Group.
They're accused of a massive ₹1,100 crore fraud where over 2,000 homebuyers paid for homes that still aren't finished—even after waiting 14-17 years.

Projects launched between 2008-2011, still not completed

After buyers complained to police in Delhi and Haryana, the ED stepped in and seized assets worth nearly ₹682 crore in 2024—including big land parcels in Gurugram.
Projects like Project Edge, Project Skyz, and Ramprastha City were launched way back between 2008 and 2011 but are still incomplete.
For many young buyers hoping to own their first home, these delays have meant years of uncertainty and financial loss.
```