CBI to Crack Down on NCR's Top Builders: 22 Cases Expected in Next 48 Hours

CBI Investigation: The CBI will investigate more than 80 real estate projects in Noida and Greater Noida, areas adjacent to Delhi. The investigation will explore alleged collusion between banks and builders. The Supreme Court has granted the CBI permission to file cases in this regard.

Following the Supreme Court's green signal, the Central Bureau of Investigation (CBI) is prepared to take stringent action in the builder-bank nexus case. Sources suggest that the CBI may register 22 cases within the next 48 hours, with formal investigations commencing next week. These cases will cover over 80 real estate projects in Noida, Greater Noida, Gurugram, Yamuna Authority, and Ghaziabad.

Investigation Gathers Pace After Supreme Court Permission

Three days ago, the Supreme Court permitted the CBI to register 22 cases against builders and their colluding banks who defrauded homebuyers in the NCR. This permission was granted based on preliminary investigations where the CBI found cognisable offences.

Earlier, in March 2025, the court had allowed preliminary investigations into five major cases. The investigating agency informed the court that irregularities and fraud committed by builders and financial institutions had been confirmed, necessitating a detailed investigation.

Big Builders, Big Questions

All major builders in Noida and Greater Noida are under the CBI's scanner. Some of these builders have had close ties with previous state governments. The CBI has already inspected these builders' projects and conducted thorough document checks in some cases.

According to CBI sources, most of these projects are incomplete, and flat buyers have been waiting for possession for years. Now, layers of financial irregularities and fraud are being uncovered in these projects.

Crores Swindled Under the Guise of Subsidy Schemes

The alleged subsidy scheme formed the core of this scam. Under this scheme, banks approved loans in the names of buyers, but the money went directly into the builders' accounts. The condition was that the builder would pay the EMIs until possession of the flats was given. However, the builders stopped paying the installments after some time.

Subsequently, banks, citing a tripartite agreement, sent notices to buyers demanding payment of installments. In many cases, buyers were even threatened with being declared defaulters, despite not receiving their flats or possession. This process has plunged thousands of middle-class families into financial and mental distress.

Authorities and Banks Also Under Scrutiny

Not only builders, but also officials from Noida, Greater Noida, Yamuna, and other authorities, along with financial institutions/banks, are under CBI investigation. It is alleged that the authorities showed gross negligence in monitoring projects and granted builders undue concessions against regulations.

ED to Join the Investigation

Considering the angle of money laundering, the Enforcement Directorate (ED) has also been included in this investigation. Given the suspected misuse of crores of rupees and potential foreign investment, both agencies will coordinate their actions.

Buyer Petitions Formed the Basis

Over 1200 petitions filed in the Supreme Court brought this entire matter into national debate. More than 700 buyers associated with Supertech Group projects alone filed 84 separate petitions. Based on these petitions, the court allowed the CBI to intervene.