Crackdown on Real Estate Groups in Mohali: ED Probes Alleged Fraud and Cheating
The Enforcement Directorate (ED) has launched a crackdown on two real estate groups in Mohali, Suntec City and Altus Space Builders Private Limited, over allegations of fraudulent change of land use (CLU) approvals and cheating of landowners and buyers.
Probe Widens: ED Uncovers Alleged Redesignation of Land for Personal Gain
The ED investigation has revealed that portions of land in the GMADA's Eco City-3 project and Sector 84 were allegedly redesignated from "educational use to residential use" after land acquisition, leading to a 100% jump in land prices within a short period.
- Land prices jumped from ₹3.5 crore per acre to around ₹7 crore per acre within two months.
- Some suspected benami transactions are under scrutiny.
ED Teams Visit Multiple Locations, Seize Documents
As part of the investigation, ED teams have visited the Majri tehsil in New Chandigarh and sought detailed revenue and ownership records from multiple tehsil offices in Mohali district.
- ED teams have collected jamabandis, mutation records, sale deeds, and registry details related to land acquired for Eco City-3, low-density housing projects, and commercial corridors.
- Investigations are also examining the role of property dealers, middlemen, and firms suspected of facilitating speculative or benami land purchases.
Link to Bureaucrats and Land Procurement Raises Questions
The ED has also procured details of land procured in the name of a private individual, Peeyush Bhalla, who is linked with several bureaucrats and was allegedly involved in land procurement for IAS and PCS officers' colony at New Chandigarh.
Registration Process Raises Red Flags
ED has questioned the registration process involving a land transaction between Altus Space Builders Private Limited and Dhir Constructions during the tenure of then urban development minister Aman Arora.
- The minister shares close ties with Gaurav Dhir of Dhir Constructions.
- The minister has denied any involvement, stating that although Dhir was his friend, he had no connection with his business dealings.
ED Seeks Explanation from Tehsildar
Officials said the agency has sought an explanation from the Majri tehsildar regarding how the land registration for a group housing project was processed after official working hours.
Irregular Land Transfers and Concealed Agreements Under Scrutiny
Investigators have also reportedly recovered two separate sale agreements related to the same land parcel, which were allegedly not disclosed at the time of registration.
Sources said the ED is examining whether irregular land transfers, undervaluation or concealed agreements were used to facilitate questionable transactions linked to high-value urban projects in New Chandigarh.