ED Restitutes 78 Flats to Defrauded Homebuyers in Gurgaon, Marking a Major Win for Buyers

                Gurugram, August 14, 2024: In a landmark decision, the Enforcement Directorate (ED) has restituted 78 flats, valued at over Rs 20 crore, to homebuyers who were defrauded by the SRS 
Group in Gurgaon. These properties were part of the SRS Group’s Pearl, City, and Prime projects, which faced legal challenges due to financial misconduct.

The ED had attached these flats in 2020 after discovering that the SRS Group had laundered money from unsuspecting buyers. This action is the first instance of the ED returning 
properties to defrauded homebuyers, marking a significant milestone in providing relief and justice in the real estate sector.

This restitution is a major step forward for victims of real estate fraud, showcasing the government's commitment to protecting buyers' interests and ensuring that justice is served. The ED 
is also in the process of returning additional properties worth Rs 2,215 crore to other affected homebuyers.

This development underscores the proactive role of regulatory agencies in addressing real estate fraud and restoring trust in the market. It highlights the government's dedication to 
supporting those who have been wronged and sets a positive precedent for future actions in the sector.
Source: Economic Times Realty