The Enforcement Directorate (ED) has intensified its crackdown on alleged financial irregularities in Punjab’s real estate sector by conducting raids at multiple locations linked to Royale Estate Group and Chandigarh Royale City Promoters Pvt Ltd (CRCPL) across Chandigarh, Mohali, and Zirakpur.

According to officials, the investigation relates to allegations of fraud, money laundering, criminal conspiracy, and diversion of funds connected to a residential colony project in Karala village, SAS Nagar district. The ED launched the operation under the Prevention of Money Laundering Act (PMLA) following a Punjab Police case registered in July 2025.

Authorities are probing allegations related to dishonoured cheques worth nearly ₹32.67 crore and alleged non-payment of statutory liabilities to the Greater Mohali Area Development Authority (GMADA). During the searches, ED teams reportedly examined financial records, digital devices, property transaction documents, and inter-company financial dealings.

The raids targeted premises linked to several individuals associated with the group, including promoters and key associates. Officials suspect the use of shell companies, fund layering, and irregular financial transactions tied to real estate developments in the Chandigarh tricity region.

Key Highlights

• ED conducts raids on Royale Estate Group-linked premises
• Searches carried out across:
  • Chandigarh
  • Mohali
  • Zirakpur
• Investigation linked to alleged money laundering and fraud
• Probe connected to residential colony project in Karala village
• Alleged dishonoured cheques worth around ₹32.67 crore under scrutiny
• Authorities examining:
  • financial records
  • digital devices
  • property transaction documents
  • inter-company transactions
• Case registered under Prevention of Money Laundering Act (PMLA)
• ED probing alleged diversion and layering of funds
• Greater Mohali Area Development Authority (GMADA) dues also under investigation
• Crackdown seen as part of wider scrutiny of Punjab’s real estate sector

Industry observers believe the investigation reflects increasing regulatory scrutiny on financial transparency, project approvals, and fund management practices within regional real estate markets.