CBI crackdown on NCR builders cheating homebuyers, 22 cases after 47 raids

New Delhi,UPDATED: Jul 31, 2025 00:07 IST

In a major crackdown on builders accused of cheating and defrauding thousands of homebuyers in the National Capital Region (NCR), and to investigate the nexus between builders and officials of financial institutions, the Central Bureau of Investigation (CBI) has registered 22 cases against various NCR builders and unidentified officials of financial institutions.

Searches were conducted at 47 locations, including Delhi, Gurugram, Noida, Greater Noida, and Ghaziabad. The CBI seized various incriminating documents and digital evidence during these operations, shedding light on the complexity of the builder-financial institution nexus.

The Supreme Court had earlier directed the CBI to probe the allegations after homebuyers filed special leave petitions (SLPs), citing coercive actions from financial institutions. The court's instructions led to the CBI registering seven preliminary enquiries in April 2025.

Following a comprehensive investigation, the CBI completed six out of the seven preliminary enquiries within three months and submitted a status report to the Supreme Court. The investigation revealed a problematic 'Subvention Scheme' for home loans, which allegedly facilitated the fraud.

The Supreme Court, upon reviewing the CBI's report, instructed the agency to register 22 regular cases against various builders and unknown financial institution officials in the NCR. This directive is part of broader efforts to address the grievances of homebuyers.

This crackdown is expected to have significant implications for the real estate and financial sectors, potentially leading to stricter regulatory measures. The investigation is still ongoing as authorities attempt to trace the extent of the financial irregularities involved.

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