Properties in Gurugram
New Delhi — Assets worth Rs 634.12 crore related to the Unitech Golf & Country Club project in Noida have been provisionally attached by the Enforcement Directorate. This action was taken on May 27, 2026, under the Prevention of Money Laundering Act, which is another serious step taken in connection with the investigation against the struggling real estate firm.
The statutory seizure includes leasehold interest in about 347.83 acres of land located in Sectors 96, 97, and 98 in Noida. Other interests that fall under the ambit of the seizure include specific equity shares of Sungrace Products India Pvt Ltd and CIG Infrastructure Pvt Ltd. While the total registered amount for the attached assets stands at Rs 634.12 crore, the current estimated market value is said to be around Rs 8,115 crore.
This federal intervention is based on a huge multi-agency investigation that is anchored on the 76 FIRs recorded by the Delhi Police and Central Bureau of Investigation. The findings of the ED suggest that Unitech Limited had raised a total corpus amount of Rs 16,075.89 crore from retail home buyers, institutional investors, and banks. As per allegations, the promoters misappropriated Rs 7,794.35 crore of this corpus for unauthorized activities without any reference to project development books.
A Conflict of Mandates
When considering when and against whom this ED move has been made, another element of complexity emerges in the Unitech situation. The property is under management of a board of directors appointed by the Supreme Court, in order to provide refunds and construct houses for the cheated customers of Unitech.
This Supreme Court-appointed board had only just held an online sale, on February 4, 2026, in which it auctioned off premium residential plots at “The Willows” project, built on precisely the same piece of UGCC property that is now being frozen by ED.
There was intense participation in the market by interested buyers, and these bids were quite aggressive enough to exceed the reserve price by considerable margins. The money thus earned was supposed to be used for building stalled towers of group housing projects in the area.
The ED has redefined the underlying property as proceeds of crime, meaning that the board is now barred from making lease deals and giving possession to bidders. This creates a clear conflict between statutes: the powers of the ED in seizing and forfeiting laundered money directly clash with the board’s efforts at selling off the asset in order to settle debts.
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