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ED raids reputed builders in Bengaluru, Mysuru over property tax fraud

The Enforcement Directorate (ED) raided several reputed builders' houses and offices in Bengaluru and Mysuru, targeting 11 locations in Bengaluru and 2 in Mysuru. The investigation addresses complaints of fraud and illegal business practices, including property tax fraud and fraudulent real estate transactions, as part of broader efforts to combat rising fraud cases in the sector.

ED raids reputed builders in Bengaluru, Mysuru over property tax fraud vkp
First Published Jun 24, 2024, 2:28 PM IST

The Enforcement Directorate (ED) officials conducted raids on the houses and offices of several reputed builders in Bengaluru and Mysuru. The raids, which took place in prominent areas of Bengaluru such as King Fisher Tower, Malleswaram, Basaveshwaranagar, UB City, Bannerghatta Road, and Hanumantanagar, were aimed at investigating allegations of fraud and illegal business practices.

The ED's operation extended to 11 locations across Bengaluru and also targeted two additional locations in Mysuru. The authorities are looking into numerous complaints, including accusations of fraudulent activities in the payment of property tax and other malpractices related to real estate transactions.

The investigation was launched following several complaints about these builders and companies engaging in illegal activities, such as providing sites through fraudulent means. The ED's action is part of a broader effort to address the increasing number of fraud cases in the real estate sector.

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