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The Enforcement Directorate attached additional assets worth about ₹503 crore in a money laundering probe involving Raheja Developers and promoter Navin M Raheja, citing alleged diversion of homebuyer funds. Total attachments in the case now stand at roughly ₹1,617.29 crore.
10:34 PMEconomic Times RealtyThe Supreme Court will hear a petition seeking a formal scheme for subvention-plan home loans where builders and lenders share losses if flats are not delivered. The plea also asks for a structured debt-relief framework for buyers stuck paying EMIs on stalled or undelivered projects.
7:30 AMEconomic Times RealtySummary
The Enforcement Directorate attached additional assets worth about ₹503 crore in a money laundering probe involving Raheja Developers and promoter Navin M Raheja, citing alleged diversion of homebuyer funds. Total attachments in the case now stand at roughly ₹1,617.29 crore.
Why it matters
A larger attachment raises the odds of prolonged project delays and harder financing for developers tied to customer-advance diversion risks.
Summary
The Supreme Court will hear a petition seeking a formal scheme for subvention-plan home loans where builders and lenders share losses if flats are not delivered. The plea also asks for a structured debt-relief framework for buyers stuck paying EMIs on stalled or undelivered projects.
Why it matters
A judicially mandated loss-sharing and relief framework could reprice real-estate credit risk and change how homes are financed under subvention plans across India.
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